OSM is extending its digital network and offering full ship management services across Cyprus, providing new opportunities for the Central European and Middle East markets.
The ship management company has reportedly seen its client base grow around Cyprus and has therefore decided to offer full management services including technical management out of the Mediterranean country, according to OSM founder, chairman and chief executive Bjørn Tore Larsen.
“We have full ship management out of offices in Norway, Singapore and Helsinki. Now with Cyprus fully compliant to offer technical management we are ensuring we remain a ship management company for owners and their charterers to work closely with” said Larsen.
“We chose Cyprus 12 years ago to run some of our ship management and back office services, but now we have expanded it into a full ship management centre.”
Ship management services in Cyprus will be focused on the Middle East and Central European shipowner markets.
Larsen says that ship management has become a much bigger industry in recent years and leading companies such as OSM have to be able to provide the right level of services to shipowners to succeed.
“To reap the rewards you need to offer products that customers are happy with,” he says adding that this is not just a question about cost.
“As charter requirements, regulations that are both regional and international, public opinion and social pressure, increasingly influence maritime operations, it requires a much higher level of competence and expertise across many different fields. This is an expertise level that may be hard to find in a smaller or under-priced ship management firm.”
The expanded Cyprus office has already taken in some dry bulk vessels and tankers under management, and has more coming in. The Limassol office will also serve as the Central European Hub for the company’s OSERV supply chain and procurement services.
All OSM offices are fully connected and linked to the company’s 24/7 operations centre in Singapore, where the technical decisions are made and where it can monitor and manage the company’s global fleet. Other ship management centres, including the new Cyprus centre, all act as back up to Singapore if the need arises.
OSM aims to become a highly-predictive analytical, artificial intelligence and machine learning-based organisation in 2020.