Astrup Fearnley opens regional office
Adding to Singapore's global maritime credentials, 138-year-old Norwegian ship broker Astrup Fearnley has joined other time-honoured European maritime firms in setting up shop here, saying this is the place to be as a new era dawns in global shipping.
Mr Le Feuvre: Singapore is the most logical place in Asia, this side of the Suez, to run tanker operations from
Seeking to tap the overall growth in the shipping industry and at the same time plug a gap in their coverage of the Asian tanker market, the Astrup Fearnley Group opened its new regional office here yesterday.
The new entity, Fearnleys Asia, will support the group's new regional focus on tanker and offshore chartering, sale and purchase (S&P) as well as finance and research along with an intensified focus on the dry bulk sector, according to its recently appointed managing director, Jonathan Le Feuvre.
Within two years, the office will have 30 staff, compared with 14 currently, of which five will be administration staff; six, S&P brokers; and the remaining majority, chartering.
'What we're doing here is really just a reflection of what has been going on in Singapore as a whole,' said Mr Le Feuvre. 'It's a really exciting place to be, and I think it's a really exciting time in history as far as shipping goes because we're seeing a shift in power away from the old world to the new world. Being here in Singapore, it's returning to the era of Stamford Raffles as a important link between China and India and it's really an exciting time and place to be.'
Until now, the group has been represented here for the last 10 years under the banner of its Fearngas division which focuses on the liquefied petroleum gas, ammonia and petrochemical shipping sector.
'The group has been growing and has been looking at where the shipping market is growing, particularly the tanker sector, and Singapore is the most logical place in Asia, this side of the Suez, to run tanker operations from,' said Mr Le Feuvre.
India in particular shows promising signs, driven by new oil and gas finds, a voracious global demand for steel, and surging infrastructure development within the country.
Fearnleys Asia will expand on the existing Fearngas operations and establish a dedicated tanker chartering team which is currently being recruited.
The team will begin operations in August as will the offshore team which is being primarily sourced from Europe because of the lack of specialised expertise locally, Mr Le Feuvre said.
The setting up of the offshore division here - covering anchor handlers to rigs - mirrors the surging offshore rig and support vessel newbuilding business here, which last year brought a Fearnleys offshore man from Europe to Singapore nearly 27 weeks in the year. The group has had a presence in Asia since 1969.
Mr Le Feuvre: Singapore is the most logical place in Asia, this side of the Suez, to run tanker operations from
Seeking to tap the overall growth in the shipping industry and at the same time plug a gap in their coverage of the Asian tanker market, the Astrup Fearnley Group opened its new regional office here yesterday.
The new entity, Fearnleys Asia, will support the group's new regional focus on tanker and offshore chartering, sale and purchase (S&P) as well as finance and research along with an intensified focus on the dry bulk sector, according to its recently appointed managing director, Jonathan Le Feuvre.
Within two years, the office will have 30 staff, compared with 14 currently, of which five will be administration staff; six, S&P brokers; and the remaining majority, chartering.
'What we're doing here is really just a reflection of what has been going on in Singapore as a whole,' said Mr Le Feuvre. 'It's a really exciting place to be, and I think it's a really exciting time in history as far as shipping goes because we're seeing a shift in power away from the old world to the new world. Being here in Singapore, it's returning to the era of Stamford Raffles as a important link between China and India and it's really an exciting time and place to be.'
Until now, the group has been represented here for the last 10 years under the banner of its Fearngas division which focuses on the liquefied petroleum gas, ammonia and petrochemical shipping sector.
'The group has been growing and has been looking at where the shipping market is growing, particularly the tanker sector, and Singapore is the most logical place in Asia, this side of the Suez, to run tanker operations from,' said Mr Le Feuvre.
India in particular shows promising signs, driven by new oil and gas finds, a voracious global demand for steel, and surging infrastructure development within the country.
Fearnleys Asia will expand on the existing Fearngas operations and establish a dedicated tanker chartering team which is currently being recruited.
The team will begin operations in August as will the offshore team which is being primarily sourced from Europe because of the lack of specialised expertise locally, Mr Le Feuvre said.
The setting up of the offshore division here - covering anchor handlers to rigs - mirrors the surging offshore rig and support vessel newbuilding business here, which last year brought a Fearnleys offshore man from Europe to Singapore nearly 27 weeks in the year. The group has had a presence in Asia since 1969.
