BSM re­ports 20% rise in ves­sels un­der man­age­ment

Financial Mirror (Cyprus) - - FRONT PAGE -

Bern­hard Schulte Ship­man­age­ment (BSM), one of the old­est mar­itime com­pa­nies op­er­at­ing on the is­land, re­ported a 20% in­crease in the num­ber of ves­sels un­der its man­age­ment over the last year.

The com­pany said in an an­nounce­ment that the in­crease “comes as no sur­prise against the back­drop of a fast grow­ing econ­omy that Cyprus has been de­mon­strat­ing in re­cent times.”

Par­tic­u­larly over the last six months, the coun­try has at­tracted many pri­vate eq­uity firms and ship­ping com­pa­nies, such as Ridge­bury Tankers, who have set up a pres­ence in Cyprus.

“With an in­creas­ingly strong gov­ern­men­tal sup­port and the solid com­mit­ment from ship man­agers, ship­ping on the whole is gain­ing Cyprus a lead­er­ship po­si­tion as a ship man­age­ment cen­tre among Europe, Asia and Africa,” said Arthur McWhin­nie, Man­ag­ing Di­rec­tor of BSM Cyprus.

An ac­tive mem­ber of the board of the Cyprus Ship­ping Cham­ber and the Cyprus Marine En­vi­ron­ment Pro­tec­tion As­so­ci­a­tion, McWhin­nie said “hav­ing been the first en­trant in the ship man­age­ment sec­tor in Cyprus, BSM has not only es­tab­lished a busi­ness pres­ence in this mar­ket since 1972, but has been in­stru­men­tal in help­ing de­velop the is­land as a lead­ing ship man­age­ment hub both re­gion­ally and glob­ally. Our global net­work across 30 lo­ca­tions pro­vides seam­less con­nec­tiv­ity to re­sources around the clock, a cru­cial el­e­ment in run­ning an ef­fi­cient net­work of global ship man­age­ment cen­tres.”

He said that BSM’s high qual­ity crew and re­li­able shore based staff are equally note­wor­thy as­sets that have pro­pelled the com­pany for­ward in this highly com­pet­i­tive in­dus­try.

The role of Cyprus as a train­ing cen­tre that com­pletes BSM’s global train­ing net­work was also em­pha­sised in 2013, with the in­au­gu­ra­tion of their new, wholly-owned Mar­itime Train­ing Cen­tre in the heart of Li­mas­sol, where cadets are trained an­nu­ally in a state-of-the-art train­ing fa­cil­ity to learn and de­velop com­pe­tences.

BSM Cyprus man­age a fleet of about 95 ves­sels, and it also runs ves­sels out of Venezuela. The Venezuela branch of­fice is in op­er­a­tion for the last 20 years, and ob­serves Latin Amer­ica for fur­ther growth prospects.

“While an in­creas­ing num­ber of com­pa­nies mov­ing to Cyprus re­flect the is­land’s strong eco­nomic and ge­o­graph­i­cal po­si­tion, it also trans­lates in­crease com­pe­ti­tion. It be­comes even more cru­cial for BSM to stay ahead in terms of min­i­mum loss time, ves­sel avail­abil­ity and top quar­tile in safety,” McWhin­nie said.

BSM will be host­ing a cus­tomer hos­pi­tal­ity event on Tues­day, Septem­ber 15, at its Mar­itime Train­ing Cen­tre in Li­mas­sol to co­in­cide with this year’s Mar­itime Cyprus con­fer­ence.

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