It feels like a natural expansion for OSM Ship Management in Cyprus.
The European island state has a business-friendly maritime cluster and as OSM has seen its client base grow it makes sense to offer full ship management, including technical management, out of the Mediterranean country according to OSM founder, chairman and chief executive Bjørn Tore Larsen.
“We have full ship management out of offices in Norway, Singapore and Helsinki. Now with Cyprus fully compliant to offer technical management we are ensuring we remain a ship management company for owners and their charterers to work closely with” he says.
“We chose Cyprus 12 years ago to run some of our ship management and back office services, but now we have expanded it into a full ship management centre.”
Ship Management Services in Cyprus will be focused on the Middle East and Central European shipowner markets.
Larsen adds that OSM, which was formed in 1989, has a full global network to offer shipowners; as well as an ability to offer future-proof digital solutions to a growing range of clients seeking modern services that meet their evolving challenges head on.
Today the company delivers ship management, crew management and other services to over 500 vessels, employs more than 11,000 seafarers and is seen by the industry as a global market leader in maritime and offshore ship management.
OSM has also positioned itself to become the preferred digital ship manager, focusing on technology solutions that will help create technical ability, security, resilience and efficiency gains for clients.
All OSM offices are fully connected and linked to the company’s unique 24/7 operations centre in Singapore, the heart of the company’s digital transformation where the technical decisions are made and where it can monitor and manage the company’s global fleet 24/7.
However the other ship management centres, including the new Cyprus centre, all act as back up to Singapore if the need arises.
OSM Maritime’s Operations Centre and network is transforming decision-making, efficiency and performance for its global customer base, while highlighting a new, sustainable path forward for the industry. The OSM aim is to become a highly-predictive analytical, artificial intelligence and machine learning-based organization in 2020.
OSM prides itself on being able to provide bespoke solutions for all its partners regardless of their size and needs. As well as the unique technologically advanced operations centres, it also runs advanced ship to shore programmes that promote behavioural safety amongst crews, as well as developing best practice leadership skills.
Larsen says that ship management has become a much bigger industry in recent years and leading companies such as OSM have to be able to provide the right level of services to shipowners to succeed.
“To reap the rewards you need to offer products that customers are happy with,” he says adding that this is not just a question about cost.
“As charter requirements, regulations that are both regional and international, public opinion and social pressure, increasingly influence maritime operations, it requires a much higher level of competence and expertise across many different fields. This is an expertise level that may be hard to find in a smaller or under-priced ship management firm.”
The expanded Cyprus office has already taken in some dry bulk vessels and tankers under management, and has more coming in. The Limassol office will also serve as the Central European Hub for the company’s OSERV supply chain and procurement services.
By targeting Cypriot, Greek and Middle East owners from Limassol, the expended OSM Cyprus office will be able to offer the high level of quality expected of the company. “It is always exciting to see where it will take us,” concluded Larsen.