Top Ship Management Companies in Singapore 2024

This article discusses ship management companies based in Singapore. Some reports suggest that the maritime industry in Singapore is projected to grow at a compound annual growth rate (CAGR) of over 2% from 2021 to 2026. Singapore has over 100,000 ship management crew which highlights the growing need for secure digital supply chain solutions in this emerging sector. Let’s explore the top shipping management firms in Singapore, their operations, and their objectives.

What is Ship management?

Ship management involves the oversight of marine vessels, which may belong to a subsidiary or independent owners, but are often managed by third-party companies due to the complexities involved. Ships are similar to large factories that operate at sea in varying weather conditions, requiring careful maintenance of the machinery and spare parts on board.

Top Ship Management companies of Singapore

The shipping industry is an integral part of global logistics, with Singapore having over 5,000 maritime-related businesses covering shipping, port activities, maritime services, and offshore and marine engineering. Here is the list of some of the top ship management companies of Singapore.

1.  Ardmore

Ardmore began operations in 2010, strategically entering the shipping industry with ambitious growth plans. Over the years, it has become a top-tier organisation known for superior operational standards, customer service, and efficiency. With a strong financial foundation, Ardmore is agile in pursuing growth opportunities.

Read also – Top Freight Forwarding Companies In Singapore

The company offers shipping services such as voyage charters, time charters, and commercial pools, fostering close partnerships with key commercial and technical managers critical to its success. Ardmore recognizes the critical role of both its seafarers and shore team in overcoming the challenges of global shipping operations.

Through its global network and partnerships, including Value Maritime for emissions-reducing technology, Ardmore ensures safe and effective shipping services for its customers.

2.  Norstar

Norstar was founded in 1998 in London by Chris Bonehill, specialising in ship brokerage and newbuilding. In 2001, the company relocated to Monaco and expanded into ship ownership, investment and management. Brothers Chris and Tom Bonehill joined forces in 2005 to grow global operations.

Their deep industry insight, gained from early experience in shipping through their Captain father, informs Norstar’s character and success. The company focuses on integrity, pride, resilience, quality, accountability and community developed over decades in the industry.

Norstar provides commercial marine transportation services globally, emphasising safe, efficient and reliable logistics to support partner operations. Their vision is a sustainable planet and global well-being achieved through innovative, scalable partnerships.

3.  OSM Thome

OSM Thome was formed by the 2023 merger of OSM Maritime Group and Thome Group, combining extensive experience in maritime services. Founded by Bjørn Tore Larsen in Norway in 1989 and established in Singapore in 1963, the company manages over 1000 vessels and employs approximately 31000 personnel worldwide.

Their core services include entire ship and crew management, as well as a range of marine services such as catering, new building supervision and marine insurance. OSM Thome emphasises 24/7 customer success through dedicated teamwork and superior service delivery, prioritises employee welfare and fosters a strong team spirit both onshore and offshore.

They are committed to sustainability, OSM Thome actively promotes environmental initiatives aligned with the United Nations Sustainable Development Goals, driving growth and innovation in the shipping industry while ensuring environmental responsibility.

4.  Fleet Management Limited

Fleet Management Limited is a subsidiary of The Caravel Group Limited headquartered in Hong Kong SAR. It operates as a leading global ship management company. With over 27,000 seafarers and 1,000 onshore professionals, they manage a diverse fleet of over 650 vessels across various shipping segments.

Their operations are spread across 27 offices in 12 countries, serving a client base of over 100 major ship owners worldwide including Fortune 500 companies. Committed to excellence, they focus on providing reliable, cost-effective ship management services that meet rigorous quality, safety and environmental standards.

Their vision is to become a major player in specialised shipping segments. They aim for continuous improvement and zero accidents.

5.  Bernhard Schulte Ship management

Bernhard Schulte Ship management (BSM) is a leading third-party ship manager known for prioritising its people and expertise both at sea and ashore. They operate through an extensive global network comprising 11 ship management centres, 28 crew service centres and 5 maritime training centres.

They manage a fleet of over 670 vessels with a workforce of over 25,000 seafarers and 2,000 shore-based staff. They ensure safe, reliable and efficient ship management services across a variety of vessel types. As part of the Schulte Group, founded in 1883, BSM leverages over 140 years of shipping industry experience.

They provide tailored maritime solutions aimed at maximising ship availability, safety and operational efficiency with an emphasis on integrity, compliance and sustainability. BSM fosters long-term client relationships while focusing on safety, customer satisfaction and crew well-being in their approach to ship management.

6.  Columbia ship management

Columbia was founded in Cyprus. It has built a global reputation by consistently exceeding client expectations through high-quality, customised management services. Columbia has over 40 years of experience in ship management and maritime services.

They have established themselves as a world-class provider known for its commitment and professionalism. Their approach emphasises leveraging a strong global network to deliver significant value to clients and maintain a leading position in the maritime industry. Columbia offers uniquely flexible and fully customizable management service packages designed specifically for each client, ensuring cost-effective operations and taking advantage of economies of scale. With a focus on 24/7 communication, efficiency and transparency, their highly experienced staff, ashore and on board, prioritises optimising fleet performance to enhance the client’s business results.

The company has expanded its global presence with over 25 management and representative offices, crewing agencies and training centres worldwide. As part of a larger network. Columbia works closely with global partners to enhance service efficiency and effectiveness. They are dedicated to continuous improvement and strive to be the best choice for customers, partners and employees, offering a transparent, flexible and customised service portfolio to meet diverse business needs.

7.  Asiatic Lloyd

The Asiatic Lloyd and Atlantic Lloyd Group is overseen by the K.F. Bunnemann family. It engages in ship ownership and ship management activities. It primarily focuses on post-Panamax bulk carriers and container vessels with 1,000 to 9,000 TEU capacity.

Asiatic Lloyd Maritime LLP serves as the entity responsible for strategic investments in both bulk and container shipping, comprehensively managing vessels and overseeing project development and asset management. In parallel, Asiatic Lloyd Shipmanagement LLP, based in Singapore, provides technical and crew management services, ensuring operational excellence for the fleet.

Atlantic Lloyd specialises in technical ship management services, serving affiliated companies and external clients, meeting the rigorous reporting standards expected by financial institutions, institutional investors and specialised entities in today’s maritime industry.

8.  Asia World Shipping

Asia World Shipping Private Limited, a subsidiary of the Hong Kong-based parent company, has over 30 years of experience in the maritime industry. They specialise in the management of tankers, container ships, dredgers, LPG fleets and bulk carriers, operating primarily in Southeast Asia and expanding into Africa.

Their services include technical management, terminal management and crew management for ship owners. Most recently, they have been appointed as worldwide agent by Harmony Systems Limited for the procurement of oil and oil products, and as technical and crew manager for tugs and barges by GSC, Dubai.

Asia World Shipping Private Limited excels in providing high standards of service, leveraging deep expertise in ship engine systems, optimising operational processes and strategically positioning tonnage to capitalise on market dynamics. They prioritise owner satisfaction, cost efficiency and operational excellence in their service delivery.

9.  Apollo Maritime Group

Apollo Maritime Group aims to establish itself as a leading provider of safe, innovative and sustainable maritime services globally. Their mission focuses on creating value for clients and stakeholders, leveraging applied knowledge, experience and innovation to help clients achieve their objectives.

They prioritise risk identification and mitigation in collaboration with stakeholders, emphasising high safety and quality standards, zero harm to persons and property, and minimal environmental impact. Apollo Maritime Group also prioritises the health and well-being of its seafarers and communities, as well as addressing environmental concerns through initiatives such as fuel consumption optimization and promoting the use of cleaner fuels.

Committed to the United Nations Sustainable Development Goals, they strive to sustain economic growth, prevent marine pollution, and contribute to the global partnership for sustainable development.

10.  Arcadia Shipping Private Limited

Arcadia Shipping Private Limited was founded in 2015. It is an emerging ship management company dedicated to providing world-leading vessel management solutions. Their success is driven by revolutionary innovation, excellent management practices and a commitment to continuous improvement.

Arcadia prioritises the needs of ship owners, providing high-quality and efficient solutions tailored to their specific management requirements. They view clients as partners and leverage their technical and technological expertise to turn challenges into opportunities for all stakeholders. Arcadia Shipping has a team of highly skilled, organised and experienced professionals who work closely with clients to ensure safe and reliable vessel operations.

Their current fleet demonstrates versatility, managing a wide range of vessel types including LPG carriers, chemical tankers, VLCCs, Aframax and MR tankers. With a vision to become a trusted long-term partner in global maritime services, Arcadia focuses on delivering efficient, high-quality services that support economical, safe and environmentally friendly operations at competitive costs.

Conclusion

The growth of the shipping industry is fueling the expansion of the ship management market. In Singapore, the maritime industry market size is projected to grow from USD 4.75 billion in 2024 to USD 6 billion by 2029, achieving a CAGR of 4.79% during the forecast period (2024-2029).

The increasing number of ship supply chains and their efficient management at various port locations have further fueled the market growth.

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