Spotlight on Baltic Exchange members 

A series of interviews with key individuals at organisations who have recently joined the Baltic Exchange community. 

Humphrey Hodgson, Director of Sale & Purchase at SeaFort Maritime

 

Who are SeaFort Maritime and how did the business start? 

We are a boutique sale & purchase broker, working within the various facets of ship acquisition: newbuilding, second hand, demolition as well as other long-term projects including ship finance.

We consider ourselves to be a modern shipbroking company who deeply value the traditional and the discreet nature of the industry within which we work.

In conjunction with my colleague Tom Cuthbertson (Director) we are also delighted to continue our close association with Stephen O’Keeffe, who remains closely associated with SeaFort Maritime.

Relationships are what define us - shipping will always be influenced by people and as brokers we are there to facilitate and enable that process.

 

What does the Baltic Exchange mean to you? 

The values of the Baltic Exchange are ingrained within what we do as brokers on a daily basis.

On the practical side, the access and use of benchmark data allows us to provide an impartial assessment alongside our own market research.

In an industry which is effectively self-regulated, our membership to the Baltic Exchange clearly outlines our company values; it tells our clients and the Shipping markets who we are – with a code and platform that people can recognise and trust.

 

How has the COVID-19 outbreak affected SeaFort Maritime? 

COVID-19 has certainly brought its fresh challenges and the shipping markets are as interesting and varied as ever!

From a sale & purchase perspective, there are plenty of opportunities and we are finding ourselves busy continuing to scope the market for our clients.

Whether it is the beloved “Zoom” conference call or simply a WhatsApp message, quick communication means we remain in close contact with our clients notwithstanding the restrictions to travel or working in the office space.

One area within S&P which has caused some challenges relates to ship delivery: the repatriation of sellers’ crew and embarkation of new crew. COVID-19 has meant even the largest and most efficient ports are at times not viable because of quarantines and other evolving rules. We have had to tap into our local network of contacts to really gain an insight at a local level, with things changing on a daily (sometimes even hourly) basis.

If anything this virus has shown us the importance of remaining adaptable to change.

 

How is the maritime industry changing? 

Clearly technology will continue to be a key driver within the industry and we believe it can be used to enhance how we do business. Even within the realms of S&P, there is plenty of scope for development.

I was at the “The Captain’s Table” which was hosted during Hong Kong shipping week at the end of last year which was a perfect example of entrepreneurs from outside the shipping world showcasing how new technologies can change and improve how we work.

As the maritime industry is moving forward, we are also seeing the focus on social responsibility growing, perhaps more in line with other industries.

As an example, the Hong Kong Convention (HKC) in relation to demolition sales is becoming more common as owners require it as an essential item when considering the ‘end of life’ cycle for a vessel.

Although shipping is undoubtedly going to change and arguably the aftermath of the virus will only accelerate this, there is one aspect which is still a cornerstone within shipping and which will undoubtedly remain a constant - people and relationships.

* Find out more about SeaFort Maritime here: www.seafortmar.com