Ship Owning and Chartering Business
Leveraging Insight and Expertise from the Shipbuilding and Marine Transport Industries
The marine transportation business serves as a main artery for international logistics, as the optimal means for transporting large volumes of cargo over long distances. MC is aiming to capture new business opportunities in this industry through its ship owning and chartering business, leveraging the insight and expertise it has amassed in ship trading activities.
The ship owning and chartering business is one business MC is focusing on in particular. It is a business in which we own ships for chartering to marine transport companies, cargo owners and other parties in Japan and overseas. But there is more to this business than merely chartering vessels. It also requires us to arrange ship captains, chief engineers, crew and other essential personnel. In the sense that we operate according to the demands of customers in terms of destination, schedule and other aspects, it could be compared to a limousine-for-hire business.
MC has engaged in ship trading over many years. Through these deeply rooted connections with the shipbuilding and marine transport industry, we have an expansive network, ranging from shipbuilders and shipowners to charterers, who charter shipowners' vessels, and cargo owners. This mass of insight and expertise is the major driving force propelling our ship owning and chartering business.
Market rates in the marine transport industry slumped in the wake of the global financial crisis in 2008. However, the market is recovering, led by bulk carriers, against a backdrop of rising demand for constructing infrastructure in China, India and other emerging markets. Amid this recovery, in May 2011 we established a new ship owning company, Diamond Star Shipping Pte. Ltd., in Singapore. With a base in what is a major hub of the marine transport industry, we are poised to directly tap into logistics demand. Having a base in Singapore will also enable us to secure the skilled seafarers that are so essential to a ship-owning business. We believe that these advantages will allow us to capture new business opportunities.
[From the Business Frontline]
Today, Singapore is one of the world's major marine transport hubs. The island nation is home to a host of cargo owners, shipowners, operators, shipbuilders, ship management companies, financial institutions, insurers, law offices and other businesses connected with marine transportation. Singapore thus offers a whirlpool of important information for running our ship owning and chartering business. We are working to pick up valuable and timely information for our business while looking for business expansion opportunities by developing new customers, for example. At the same time, we ensure a reliable supply of safe, high-quality vessels for our clients.
Managing Director Diamond Star Shipping Pte. Ltd.