The Containership Co. attracts attention
Organizers of a proposed new containership company hope to reveal details of their plans in the next month to six weeks.
Franck J. Kayser, managing director of The Containership Co., said it was premature to give details about the new company, which has attracted wide interest because of involvement by John Fredriksen, the Norwegian shipping magnate who is chairman and chief executive officer of Frontline Ltd., one of the world’s largest tanker companies. Fredriksen, is involved in many sectors of the maritime industry dry bulk carriers and gas ships to drilling rigs. He was one of the investors who urged the tourism company TUI to spin off Hapag-Lloyd.
Kayser would only confirm “there are a number of investors involved and Mr. Fredriksen is one who is looking at it.” He would not identify other investors or organizers other than himself and Tholstrup-M'ller of Boxton Maritime, a Norwegian shipbroker.
A report in Lloyds List said the company is expected to provide port-to-port calls between connecting port pairs that most carrier do not provide. But Kayser said, “We are looking at every model, both big ports and small ports to find the optimum. We are very open about that.”
The Copenhagen-based company has said it wants to offer container shippers competitive, longer term fixed ocean rates.
'We are looking at building up something,' rather than acquiring an existing company, Kayser said. “There is too little free capital and too much debt to take over. That is the reason why you have not so much acquisitions and mergers. It is a question of the money that is available and the debt you take over, which in many cases is substantial.
“Our basic idea is that we want to help ship owners utilize assets,” he said.