Anders Hald, chief executive of MB Shipbrokers — formed following the management buyout of Maersk Broker — said the firm is well positioned for the future under its new employee ownership structure.
Speaking to TradeWinds following the surprise announcement, Hald said that former owners, the Mc-Kinney Moller family and Maersk Broker board, concluded the management buyout was the best option of all the alternatives.
He said that the move would continue the firm’s commitment to Maersk Broker’s legacy and values and provide a basis for its development.
Under the scheme, all Maersk Broker’s 250 employees will get the chance to join the buyout.
“We will basically offer all our current employees an opportunity to participate and all should have a share,” said Hald, who declined to disclose the financial details behind the buyout.
He said the move will now give his firm a similar structure to stock-listed brokers or partnerships that are also able to reward employees through a stake in the company.
“If you look at most, if not all, of our competitors they have a similar structure,” he said. “The people who do the day-to-day efforts should share in the rewards, that is the right formula.”
Clean break
MB Shipbrokers will make a clean break from the giant Danish shipping group. Along with the new name is a new company logo, with a propeller replacing the iconic Maersk star.
However, the move does not add to the consolidation trend in shipbroking. Maersk Broker was linked to several suitors, but Hald does not think he has missed out on a chance to form a mega-broker with one of the industry’s other giants.
Many competitors were eyeing Maersk Broker as a consolidation target, especially for its strengths in container ship chartering and newbuilding broking in the Far East.
Some suggest the buyout was pursued after the collapse of much-discussed merger talks with Clarksons.
Hald said for now MB Shipbrokers is happy to stick to Maersk Broker’s plans and be guided by its clients on how to develop the firm.
At present, there are no new outposts planned for its global network of 14 offices or diversification into different business streams.
Value added services
He does see a continuation of growing value-added services such as advisory and consultancy within its current portfolio.
“To a large extent, it will be business as usual and the same strategic goals will continue,” he said.
“I think we are in a good place right now to look at the future way we do our business. But that is up to the expectations of our clients and what they feel is the right way forward,” he said.
Maersk Broker has traditionally relied on its trainee scheme for new recruitment, and Hald said that he intends for that to continue.
