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Restructuring Of A Shipping Company Can Pay Dividends

“It could lead to ongoing success of any company”

Many jobs were affected by the recent reductions in fleet size in World-Wide. The sun is shining again on the horizon. Anyway, we must thank all those Mariners whose jobs were affected for their understanding and especially for their past contributions. We gather most of these reductions were the result of plans made by the Shipping Companies.

Fleet rejuvenation obviously has to be an ongoing process in a world that looks to quality and reliability. Recently, we observe that there has been a streamlining on the operational level by shipping companies to strengthen their competitiveness by maximizing efficiency and cost control. We should be appreciative of the good contribution made by all sides to this process, challenging as it may be.

Based on feedbacks, it is encouraging to note that some of these new adjustments made by companies are bringing positive results. They have reorganized commercial, crewing, purchasing, insurance and technical arrangements.
Inter-action with senior Chief Engineers and Masters reveals that there is good communication now between the offices and ships.

Our vision talks of Indian Shipping being a benchmark. We must all continue to move ahead and strive to develop “Best in Breed” approaches on all levels and in all areas. New marketing efforts should be put in place and the close dialogue with all business associates must continue. Available synergies must be exploited.

On ships, good constructive work must continue with harmonious spirit. Shipping Companies must never stand still since the competition never sleeps. In addition, to above operational improvements companies must move full steam ahead at corporate level. Changes must be made to create a simpler corporate structure. Financial arrangements should be largely settled in close co-operation with the companies bankers.

We must continue highlighting the joint and individual endeavours to create an even stronger name in global shipping which would reflect on our combined future aspirations.

– Vikram Gokhale & N. Nanda (authors of NG Series)

N. Nanda and Vikram Gokhale are Marine Engineers with vast experience as Chief Engineers at sea and ashore. They are Senior faculty with a premier Maritime Institute at Mumbai.

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