Cargill acquires stake in vetting company
Australian-headquartered ship vetting company RightShip said Cargill has acquired a one-third stake in the company. Shares were sold in equal amounts by founding partners, BHP Billiton and Rio Tinto.
Cargill is a major user of shipping, especially dry bulk vessels, and Warwick Norman, RightShip’s chief executive officer, said the investment “is a great boost to us, and recognition of how relevant and useful our vetting services are to shipping businesses of all sizes. Cargill’s involvement widens our network, increases our capacity and expertise while strengthening our ability to further improve global shipping standards.”
RightShip was formed in 2001 in an effort to lift standards in dry bulk vetting and overcome worldwide marine quality issues. Today it vets dry bulk, petroleum, gas and liner ships, and has a database with details of over 52,000 ships in the world fleet.