Reederei “NORD” Klaus E.Oldendorf bucks the trend by entering the third party shipmanagement fray

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Limassol-based tanker, bulker and containership owner Reederei “NORD” Klaus E. Oldendorf is to enter the third party shipmanagement sector in a move that will surprise many players in an industry dogged by severe crew shortages, SMI can exclusively reveal.

The company, which manages its tanker and newbuilding fleets from Limassol but which recently relocated the management of its bulkers and box ships to Hamburg, is confident it has the crews to man any third party ships it takes on. However, it was keen to stress that it was entering the niche or ‘boutique’ segment of the market rather than trying to compete head on with the major players.

Keith Obeyesekera, General Manager, said Reederei “Nord” would seek those owners of tanker, container or bulk tonnage who demanded quality management of their vessels. “We regard this as niche management because we are a quality operator and we are known by our peers as such.”

It would also be open for newbuilding supervision work, an area it has built up a strong reputation in, he added.

“We intend to man these ships with our own manning so we have to grow as we expand our own manning pool. That is one of the reasons why I say we have to do it systematically.

“Our move into the third party sector is a three year programme. We want to be fully up and running and making money in the next three years and we are quite confident we can do it. We are even happy to offer ship owners benchmarking exercises because we are confident about our operation. We are ready to be open and frank with third party principals and show what we are able to provide,” Mr Obeyesekera concluded.