Tanker specialist Bruno Bai is planning to grow shipbroker Ifchor Galbraiths’ new tanker desk in Singapore to take advantage of opportunities in the region.
Bai, who has nearly 20 years of tanker experience, joined the merged company at the end of last year.
He is looking to expand the three-person team.
“Ideally, we hope to have eight people by the end of this year,” he said. “We would like to have a strong footprint in Asia.”
Bai said the tanker sector has been dominated by the Western players — oil majors, traders and shipowners.
But in the past two to three years, companies in Asia, primarily China, India and Vietnam, have begun making their move in the tanker arena, drawn in by trade disruptions caused by Russia’s invasion of Ukraine and the resulting Western sanctions.
Bai believes that Singapore, the region’s tanker hub with the necessary infrastructure, is likely to be the “first stop” where newcomers will set up their commercial offices.
“They will not just concentrate on Chinese or Asian business … they will go beyond that, and I see a gap where I can help them in going international,” he told TradeWinds.
Ifchor Galbraiths has been in the maritime industry for a long time, he added, and he can use its brand and platform to provide good services for Asian players.
Bai, who has dedicated a significant portion of his career to shipowners such as BW Tankers and Navig8, strongly believes in the enduring importance of maintaining strong relationships within Asian business culture.
However, if one can include the “Western” ability in providing market analysis and advice to customers, the East-West working relationship will go a long way.
The hot tanker market may prove a challenge in hiring the right candidates as brokers.
“We will be patient,” Bai said. “Being new in Singapore, we are very careful with our first hire as they set the tone for the market and that kind of value and culture that the company holds.
“We play [the] long game here and we strive to be team players.”
