Tschudi Shipping's chief executive has said that his company will only return to shipowning with vessel employment secured.
The comments by Jon Edvard Sundnes came more than two years after the Tschudi Group company finalised the sale of its last two vessels.
“It is a bit sad to be out of shipowning,” Sundnes told TradeWinds.
Norway-based Tschudi Group, which has been in shipping since 1883, is controlled by fourth-generation owner Felix Tschudi, 60. The company is focused on maritime services, logistics and shipmanagement.
Sundnes, a maritime veteran, who joined the Tschudi Group in 2000 when it was Tschudi & Eitzen, stressed that despite the shipowning exit, it is important for the company to maintain its maritime competence.
Mine reopening
Among the ways that it is doing so are its preparations for the reopening of the Sydvaranger Gruve iron-ore mine and LNG ship-to-ship activities in Honningsvaag, Norway.
Sundnes noted that DVB Bank have got less from the sale of Tschudi's last two anchor-handling tug supply vessels had they not been sold in 2017.
The sale of these last ships in Tschudi's owned fleet, which was part of a rescue effort by the two banks, finalised in 2018.
Tschudi has reported a pre-tax loss of NOK 2m ($211,000) in 2019, which is an improvement on a loss of NOK 5m a year earlier.
The company reported book equity of negative NOK 108m, which factors in a loan of NOK 143m from Felix Tschudi, according to financial daily Finansavisen.
This story has been amended since publication to reflect that only DVB Bank was involved in the sale of two anchor-handling tug supply vessels. DNB was not involved.
