One of the world’s leading ship management companies, Fleet Management Ltd., has strengthened its foothold in the Philippines by moving its Manila office to a more spacious and strategic location, as well as making significant investments in the upskilling of its growing Filipino seafarers
Fleet Management is a member of the Hong Kong-based Caravel Group, a highly diversified group led by the Banga family, known for their philanthropic efforts through the Caravel Foundation. Aside from its ship management business, the Caravel Group engages in commodities trading, investment management, maritime education, and shipbuilding supervision.
The group, through Fleet Management, is gearing up for a better position globally to take advantage of new opportunities that the industry is expected to usher in as it pushes for the decarbonization of shipping, or the use of alternative fuels.
As part of its preparations, the Fleet Management office in Manila has transferred from its old home for many years at Antonino Bldg. on T.M. Kalaw St. in Ermita, Manila, to a more generous office space on the 8th floor of Four-Ecom Tower in the sprawling Mall of Asia Complex in Pasay City.
The new office is strategically located in key transport gateways, with direct links to NAIA Terminal 3 and to Manila International Container Terminal, placing Fleet Management close to its clients and seafarers. Moreover, it is near the Parañaque Integrated Terminal Exchange and Light Rail Transit 1, making the office accessible to its seafarers coming from both Metro Manila and the provinces.
The top officials of the group, led by no less than its chief operating officer (COO), Angad Banga, son of the group’s founder Harry Banga, the chairman and the chief executive officer of the group, were in Manila last week to inaugurate Fleet Management ‘s new home.
Caravel Group COO Banga disclosed that its third-party ship management business manages over 600 ships of various types manned by more than 27,000 sea staff with about 1,400 shore-based staff across 15 countries. He also mentioned the group’s recent strategic investment in maritime education with the acquisition of the International Maritime Institute (IMI) in India, which produces about 400 cadets annually.
The younger Banga was joined by Capt. Rajalingam Subramaniam, chief executive officer of Fleet Management, during the inauguration of the new Manila office, equipped with an upgraded training facility.
It has a brand new full mission bridge simulator and engine room simulator to pave the way for the training of its current and incoming Filipino seafarers in immersive environments for complex vessel operations, dual fuel readiness, and training on future fuels.
Capt. Rajalingam Subramaniam, CEO of Fleet Management Limited, announced:
“About one-third of the contracted global tonnage is dual fuel either ready or fitted,”
adding that Fleet Management is also providing newbuilding supervision to its clients. The ship management company is supervising 120 new buildings worth over $1 billion, a third of which are also dual fuel ready. Some are scheduled for delivery in 2027.
He pointed out:
“So definitely part of the investments that we’re doing is actually to upskill our crew because dual fuel themselves come in different types. LNG is the most predominant at the moment, but people are also talking about ammonia and methanol, which come with different toxicity and hazards,”
“So you have different capabilities that you need to ensure that these new buildings are being managed safely. So we ensure that our people are completely competent in terms of managing those assets. That they have the capacity and capability to meet the demands of not just the present, but the demands of the future. So we’re future-proofing our seafarers”
Pressed on how many new Filipino seafarers the company would need, Subramaniam estimated at least 2,000 more Filipino sea staff in a couple of years to add to its 4,000 Filipino crew at present.
These Fleet Management’s investments in the country underscored its deep commitment to Filipino seafarers that the company has employed since it started operating in Manila 28 years ago.
Credit:
This article was originally published in Manila Times:
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