Monday, November 7, 2016

Short Sea Freight Bulk and Multi Purpose Carriers Combine Services

UK and Swiss Shipping Lines Tie Up Together
Shipping News Feature
UK – SWITZERLAND – British based Carisbrooke Shipping Ltd and Nova Marine Carriers of Lugano, Switzerland have announced that they are combining their chartering and operation activities. The new arrangement will go into effect from January 1 next year and will see the two traditional short sea ship owners joining forces to service their customers and operate a combined fleet of around sixty vessels.

Carisbrooke Shipping currently controls a combination of 48 short sea, Multipurpose (MPP), and bulk carriers, with its core geographic business being in the UK-Continent/Mediterranean short sea market, carrying grains, fertilizers, coal, forest products etc. Nova Marine Carriers fleet has around 50 vessels ranging from 5,000 dwt up to 57,000 dwt bulk carriers, with its core business mainly on the Baltic-North Europe/Mediterranean-Black Sea bulk trades. The consolidation will presumably see the laying off of older and surplus vessels. Robert Wester, COO of Carisbrooke Shipping, commented on this new cooperation:

“This is an extremely positive development during a challenging time for the industry. We are very pleased with this further deepening of our strategic cooperation with a solid partner such as Nova Marine Carriers, in which we can leverage on the synergies between the strong short sea and dry bulk expertise of the two companies. Our aim is to be an active participant in consolidation efforts in the short sea market and to provide an improved 1st class service to our customers, and stakeholders alike.”

This deal is typical of what is to be expected in the current financial climate, which has seen rates crash as overcapacity affects many facets of the trade. Vincenzo Romeo, CEO of Nova Marine Carriers, commented on the new partnership, saying:

“We are excited to be bringing our respective Groups closer together. Having Carisbrooke's strength in North Europe and ours in South Europe, we are confident in bringing both commercial teams effectively together with an equitable cooperation and most importantly, servicing mutual existing and new customers with highest quality tonnage and performance.”