SINGAPORE – BP Shipping executives buyout BP Shipcare Sdn Bhd and rename it as International Shipcare. The newly launched operation plans to continue vessel layup and maintenance from its anchorage in Brunei Bay and adjacent service facility in Labuan, Malaysia.
The acquisition was led by Gavin Kramer, former Asia Pacific regional director of BP Shipping Ltd. and former BP executives Andrew Lockie and Noel Curran. Kramer becomes managing director.
Andrew Lockie, director
“Vessel lay-up is an important component of the overall shipping market and should be viewed as a valuable tool available to shipowners to optimize usage of their resources,” says Kramer. “In times of cyclical earnings, laying up an under-utilized vessel could be preferred to accepting a loss-making charter. We have the capability to get ships back into service quickly should market conditions pick-up…”