7-December-2012
Montreal-based shipowner and operator Fednav is expanding its footprint in Asia, focusing on enhancing its log-carrying capabilities. In April 2011, the Canadian bulk carrier operator established an office in Singapore, adding to its existing regional offices in Tokyo and Brisbane. This Singapore office is distinct within Fednav’s network as it operates independently from the main shipping activities controlled by the Montreal headquarters, with a specific mandate to develop Asian-centric business strategies. Traditionally focused on the Atlantic markets, Fednav has capitalized on the opportunities presented by the St. Lawrence Seaway and the Great Lakes to grow into Canada’s largest dry cargo shipowning and chartering group. The company has been in operation for 68 years, but it is now aiming to replicate its Atlantic success in Asia, positioning itself as the industrial carrier of choice in the region. Currently, Fednav manages a fleet of approximately 70 vessels, including owned and long-term chartered ships. This year alone, the company took delivery of 11 new bulk carriers and has an additional 12 ice-class ships scheduled for delivery between 2013 and 2016, which includes one ice-breaking bulk carrier and six Lakes-fitted bulk carriers. Notably, Fednav operates a fleet of six log-fitted bulk carriers from its Singapore office and boasts the largest ice-class bulker fleet globally. In Asia, Fednav is actively pursuing opportunities in the supramax and handysize bulk carrier segments for the logs trade, aiming to carve out a niche in this growing market.