OSM Ship Management has more than 60 ships under full management in Singapore. They comprise 23 car carriers, 17 container feeder ships, three Panamax bulk carriers, 15 liquid petroleum gas (LPG) carriers operated by Norgas, and four offshore support vessels.
Shubpreet Singh, business development director, said: “Singapore is our global headquarters for shipmanagement. We are trying to add tankers to our managed fleet in 2017. We will start off with handysize product tankers. There is a lot of shipmanagement business around at the moment as owners look at options for improved efficiency. But some owners are having financial difficulties due to the poor market conditions, so we have to be cautious about taking on new clients. Our main consideration is the quality of prospective clients and we have a strong business risk management process.”
He said that OSM has about 90 staff in Singapore. “Most of our crews are from the Philippines and eastern Europe. We also have some western European and US crews – for McDermott International owned barges operating in the USA. Our crewing management is carried out from the Philippines and Cyprus. Singapore is not a crewing management office but focuses on technical management
OSM also has a big presence in the offshore sector in Norway. “We are seeing more offshore vessel owners starting to outsource shipmanagement, especially where vessels are obtaining short-term contracts but operators do not want the costs of a shipmanagement infrastructure.”