Opportunities in Asian Shipping Markets to be Focus for New Broker

With financial and commodity markets in turmoil, this might not appear to be the most auspicious time to begin a new shipbroking venture. But for Antony Prince, the Bahamas based designer of a range of highly successful bulk-carriers, including the series-built “Fantasy”, “Valiant” and “Trader” vessels, a market of this sort can present many new and interesting possibilities, not only for niche newbuilding opportunities, but also with regard to newbuilding resales, second-hand sale & purchase transactions, and – with his contacts in the field of technical and commercial shipmanagement and finance – support for banks who may suddenly find themselves shipowners by default.

Building on his reputation gained as one of the undisputed leaders in the design and turnkey delivery of bulkcarriers, and with his vast experience in brokerage, yard support, construction supervision and related activities, Antony Prince says “Algoship Brokers Ltd represents a unique opportunity to further develop our close and trusted relationship with a selection of high-quality professionally run shipyards, in India, China and elsewhere and to market available newbuilding opportunities to a wider range of clients than has been the case up to now. In addition, we will look to opportunities in respect of newbuilding resales and second-hand tonnage for a wide range of vessel types as well as some chartering activities.”

As President of the new enterprise, Antony Prince adds “We are not really too perturbed by the present market turmoil as we are here for the longer term and will develop this business step-by-step. We have already agreed a strategic alliance with Dutch-based Conoship International BV to market their designs, and ours, for a whole range of vessels, from 600 up to 180,000 dwt - opening up opportunities for ship-owner clients in Europe and elsewhere to obtain competitively-priced new tonnage from select Asian shipyards with a reputation for reliability in terms of their construction skills and adherence to delivery dates. In fact, some of the yards we work with have been able to deliver vessels several months ahead of contracted delivery dates. You can learn more about this development from a separate announcement that we will be making jointly with Conoship and Germanischer Lloyd, the classification society selected to provide supervisory services to this alliance.”

Run from a head-office in Nassau, Bahamas, Algoship Brokers Ltd will initially work alongside other companies controlled by Mr Prince in Shanghai, China and Kochi, India. In building this venture he is joined by his son, Martin Prince as a vice-president. Martin is a qualified lawyer with a background in finance obtained through working with a large European-based shipping group. Also working alongside them – and primarily responsible for liaison in European markets - is Barry Evetts, a UK based shipping consultant with many years experience in shipbroking and commercial shipmanagement gained in Asia, Australasia, Europe and Latin America.