Shipping business navigates its way to success
WHILE many family-owned British shipping businesses have ceased trading over the years, Cardiff-based Graig Shipping plc continues to thrive as it sets sail into its second century.
Graig, which recently held a centenary anniversary dinner at the Coal Exchange, has successfully navigated over the years through global conflict and periods of profound shipping depressions.
The privately-owned ship owner and maritime financial services company was founded in 1919 by Idwal Williams. It has extensive experience and a strong track record of structuring, investing and managing shipping investments around the world, both for private and institutional clients.
In the early 1900s Cardiff was transformed from a small market town into the world’s biggest coal exporter. At its height there were more than 200 shipping companies listed on the Cardiff Coal and Shipping Exchange in Cardiff Docks.
To mark its centenary the firm has also published a book highlighting its history. Graig: One Hundred Years in Shipping has been written by maritime historian Dr David Jenkins, honorary research fellow at the National Museum of Wales, with a closing chapter from is chief executive and chairman Hugh Williams.
Mr Williams said: “We are proud of Graig’s heritage, built on foundations of entrepreneurship, of strong ethics and of integrity – the ability to read cycles in the market, to spot opportunities, to innovate, to take calculated risks and to operate in the global way that we have. From those early and formative years our Welsh heritage has always been important. It is reflected throughout our history in the names of our companies and ships, and in our branding.
“It remains relevant now and will continue to be so in the future as Graig strives to set an example for the local economy, with our international reputation and our skill creation.
“We aim to contribute to society and play our part in the growth of Cardiff as the capital of Wales.”
On the outlook for the £10m turnover business, he said: “We are a progressive, forward-looking, company and believe that continued investment will be vital to our future success. We already have a very strong presence in China, where we have operated for over 25 years.
“From concept to delivery, our knowledge and network within the region helps to deliver global shipping projects for our partners and clients, and this has led to Graig supervising the construction of more than 150 vessels in China and Asia since 1997.
“We have a vastly experienced management team who are optimistic for the future of this long established business.
“We also have further diversification plans within the sector supported by Barclays.
“Managing a business that is over 100 years old brings great responsibility and I, together with the rest of the management team, am committed to the future commercial success of this business as a strong local employer, working for the benefit of the entire community.”
The company and its group of companies continue to innovate, typified by Idwal Marine which was set up in 2010 and is now established as a leading global maritime consultancy and data service provider.
It also hosts the industry’s first online inspection platform.
Barclays corporate relationship director, Greer Hooper said: “Graig Shipping is a great example of a business being prepared to diversify into other areas as its business evolves, spotting threats and opportunities and adapting to meet or seize them.
“By really understanding the business and issues they have faced, Barclays has been able to support Graig Shipping financially and professionally throughout the latest chapter in its historic journey.
“This is a business with a rich history but one that is also determined to have a bright future.”