Issue 12 2019

Acquisition International - Issue 12 2019 21 Oct19570 With the world becoming more global by the day, the need for transporting goods across the oceans has never been greater. Running their operation out of Dubai, Dubai Navigation Corp has had the most incredible success since their inception over two years ago. We took a closer look at their company to find out why. Set Sail for Adventure stablished in 2017, Dubai Navigation Corp is a privately- owned, fast-growing, ship-owning company. With a varied fleet made of three bulk carriers, three tankers and one container vessel, it is able to handle any number of jobs thrown in its direction. As a dynamic company with a global reach, Dubai Navigation Corp have gained a reputation within the industry for their reliability and flexibility. This base is the source of its success, with strong industry connections built up with partners and customers alike. The company was established to invest in Dry Bulk, Tanker and Container assets at historically low prices. The cyclical nature of these markets means that it is possible to invest at low levels, before returning the capital to stakeholders through asset sales and dividends. Modernisation and expansions occur as the market recovers. Buying its first six ships in the initial nine months of the business, (Bulk Carrier and container), they bought three Aframax/ LR2 tankers in early 2019. The process of renewing and replacing that initial fleet means that the current number of ships actually stands at seven, with the continuing mission to build up a fleet of at least ten ships within two years still in place. The operations of Dubai Navigation Corp mean that they can handle anything thrown at them. Clients range from the big Container liner operators to bulker charterers. The freight to be transported is of goods in connection with mining, steel, commodity and energy companies. Oil, coal, iron ore, grain, bauxite and grains are all transported too, with the Management team leveraging their knowledge and experience to find appropriate clients with which to deal. This chartering side of the business provides a constant base level of income. It is this that makes the business a success, with the ability to upswing earnings and ships value, and react appropriately. Working simply and flexibly are the cornerstones for any successful shipping operations, with Dubai Navigation Corp applying these principles as it established itself and as it has expanded. There is a flexible structure in place to support a strong management team. Ship-Managers are based not in Dubai, but in Honk Kong and Mumbai. This provides the company with knowledgeable staff E and low overheads. Hiring staff with experience in the industry is essential, as without staff the ships wouldn’t run. Support offered to crews onboard ships is essential and when in the office the close teamwork that applies on deck is applied at the computer desk. This positive atmosphere moves the company forward in a constantly changing industry. With new shipping regulations coming into effect at the start of 2020, things will have to change for Dubai Navigation Corp. Ships will be forced to change the fuel they used, from high-sulphur to low-sulphur. This means that unless the fuel is changed, or the ship is equipped with a scrubber, it won’t be able to travel. It’s a game- changer for many shipping companies, affecting those with old and new ships. Fortunately, Dubai Navigation Corp has matters in hand. It has been implementing the necessary changes since the first quarter of 2019, leaving it six months for any potential delays. As a company, it welcomes a move towards more environmentally friendly attitudes and believes that these changes can be applied without negative economic effects for them or their clients. It is this positive attitude that sets Dubai Navigation Corp apart as a responsible and prepared ship owner and operator. In all, Dubai Navigation Corp is a strong organisation built carefully with the intention of bettering itself constantly. Now able to put its plans into action, it has proven to be a forward-thinker in the world of shipping. This is a company that has been on the up since its inception, and it only looks to continue heading in that direction. Contact: Lars Juul Jorgensen Company: Dubai Navigation Corp Website: www.dubainavigation.com/index.html Telephone: 00971 4 559 6489 “Support offered to crews onboard ships is essential and when in the office the close teamwork that applies on deck is applied at the computer desk. This positive atmosphere moves the company forward in a constantly changing industry.”