Success strategies for shipping companies during the crisis
The Successful Shipping companies have different strategies but they know their capabilities very well and generates more proper strategies for themselves. They generally have or aiming the followings;
- Become leading company, not follower
- Creating Global brand and use Flexible business models,
- Establish good Track Records and strong operating history, allow for favorable charter contract terms and rates
- High charter coverage protects free cash flow generation and downside market risk
- Long-term and excellent customer relationships, also allow for attractive charter-in rates with no capital outlay, low breakeven
- Contracts with reputable creditworthy counterparties
- Large, Modern and Diverse Fleet Provides Scale in a Fragmented Industry
- Young Fleet with Long-term Charters
- Stable cash flow from charter-out contracts
- Acquire vessels for historically low values
- Strong balance sheet, low cost structure & operating efficiencies (also enhanced by technological innovation) provide flexibility on chartering strategy to maximize returns
- Purchasing power
- Sharing cost savings with group companies
- Strong in-house technical management
- Benefiting from Shipyard Agent advantages provided to partner companies or big actors in the world.
- Excellent industry relationships such as strategic relationships with shipyards, shipyard agents, commercial banks and other industry players such as other suppliers, universities, class societies etc.
- Experienced senior management and high profile non executives
- Hire and retain skilled professionals for technical and commercial management
- Focus on new and modern designs & industry needs that will create competitive advantage
We support our global shipowner clients with cost, time and quality effective & good sound solutions to existing – and potential – problems.
We are sure that you will also find our solutions practical and useful for managing your ships and staff.
Our clients vary from globally leading companies to small and medium sized shipping companies and we are ready to cooperate with all for their success.