Marine services player Heidmar has become a technical manager as well, after welcoming Landbridge Ship Management (LBSM) to its operation.
LBSM, a technical manager of five VLCCs owned by the Huwell Group, has joined forces with Heidmar, the two companies said.
According to a joint statement, “Huwell … decided that Heidmar … is best situated to further develop and grow LBSM”.
Heidmar, a third-party commercial manager of tankers and bulkers, has long said it wanted to expand into technical management.
“With the launch of technical management, the company extends its expertise to encompass the vital aspect of crewing, vessel operations and maintenance,” it said.
Pankaj Khanna-led Heidmar is currently managing more than 60 bulkers and tankers out of Athens, London, Hong Kong, Singapore, Chennai and Dubai.
The statement does not identify the five VLCCs passing under Heidmar’s technical management but they are probably the Landbridge Group’s 308,000-dwt Landbridge Fortune and Landbridge Prosperity (both built 2016), Landbridge Glory and Landbridge Horizon (both built 2019) and Landbridge Wisdom (built 2020).
Huwell Services Ltd “will explore more opportunities to grow together with Heidmar in different areas of shipping”, its chief executive, Stone Xu said.
In October, Heidmar dropped plans to list on the Nasdaq.
Despite the setback, it said its expansion would go on as planned, with a view to growing its tanker and dry bulk commercial management and pooling business “organically”.
Heidmar moved into the commercial management of dry bulk ships in January 2023.
In May, it made its first hire for a dedicated sale-and-purchase advisory desk.
The company was founded 40 years ago as a pioneer in the third-party pool management business.
Heidmar was long owned by George Economou. In 2020, however, the Greek magnate dropped the company, which has since survived and continued under Khanna.
