Contacts:
Pat Adamson, London, +44 207 8239444
Warwick Norman, Melbourne, +61 3 86 865741
Cargill acquires stake in RightShip
LONDON/MELBOURNE – The Australian-headquartered ship vetting company RightShip Pty Ltd today confirmed that Cargill has acquired a one third stake in the company. Shares were sold in equal amounts by founding partners, BHP Billiton and Rio Tinto.
Cargill, the international food, agriculture and risk management company, is one of the world’s major users of shipping, especially dry bulk vessels. RightShip’s CEO, Warwick Norman, welcomed Cargill’s decision to become a one third partner as a vote of confidence in RightShip’s vetting services, and praised their practical commitment to raising shipping standards.
“The decision by Cargill to invest in RightShip is a great boost to us, and recognition of how relevant and useful our vetting services are to shipping businesses of all sizes. Cargill’s involvement widens our network, increases our capacity and expertise while strengthening our ability to further improve global shipping standards,” he said.
All RightShip partners believe that a more standard and uniform vetting system across bulk trades can benefit the shipping industry as a whole. By leading the adoption of screening standards across the dry bulk segment, RightShip is positioned to make a significant step forward as the major global vetting platform for bulk trades.
The combination of vetting information and experience provided by all three stakeholders will deliver a more comprehensive, integrated and user friendly vetting system for all RightShip partners and clients. Equally important, it will provide an excellent shop window for owners offering their quality vessels.
Warwick Norman concluded, “It’s great news for our business, our customers and the wider industry”.
RightShip
RightShip Pty Ltd was formed in 2001 as a boutique ship vetting company, aiming to lift standards in dry bulk vetting and overcome worldwide marine quality issues.
RightShip offers online evaluations of vessels, to give immediate support to business decisions about the charter of ships. For an attractive annual fee, clients get unlimited 24-hour access to the simple to use, web-based system.
Today RightShip vets dry bulk, petroleum, gas and liner ships for industry users worldwide, including shippers, ship-owners, operators, ports and insurers. The database currently contains details of over 52 000 ships in the world fleet.
RightShip gives the competitive and risk management advantages of an in-house vetting service, without the costs. Dedicated, expert staff are also readily available for additional advice and support, as is a global network of highly experienced specialists for additional inspections or audits if required. For more information, visit www.rightship.com
Cargill
Cargill is an international provider of food, agricultural and risk management products and services. With 149,000 employees in 63 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed.
Cargill’s Ocean Transportation Business is headquartered in Geneva, with offices in London, Amsterdam, New Jersey, Singapore and Shanghai. Its global team has a unique blend of experience across shipping, commodities, risk management and operational and safety management. Today it ships 150 million tonnes of bulk commodities spanning the agricultural, industrial and energy sectors and trades in excess of 100 million tonnes of derivative contracts as part of its global risk management. Cargill’s Ocean Transportation’s Business focuses on drawing upon its expertise and intellect to discover new and innovative ways to optimise transport requirements for its customers.