Universal Marine and Techno Marine join forces
Dec. 5, 1997 The Japanese shipmanagement sector has seen a potentially significant consolidation this week, with two
independent shipmanagers joining forces .
As smaller companies, Universal Marine and Techno Marine - which will henceforth trade jointly under the Universal
Marine name - have got their work cut out in a land where shipmanagement is dominated by the major shipping
combines.
The Lloyd's Ship Manager lists just half a dozen shipmanagers in the entire country in its 1997 directory. Two of
those are the in-house operations of NYK and MOL.
Universal Marine's joint fleet, which includes VLCCs, LPGs, chemical tankers, capesize bulkers and reefers, is 60
strong. This should be large enough to secure economies of scale and sustain a platform from which to win new
business. One hitch is that just 10 vessels are under full management rather than crewing-only contracts, although
Universal expects to increase this to around 30.
The company is making a conscious effort to develop along European lines, and will employ superintendents directly
responsible for particular ships, rather than Japanese-style foremen.
