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RS Platou London

RS Platou opened an office in London at the beginning of June. The office, headed by Richard Fulford-Smith, commenced trading on 1 June 2009 as shipbrokers and marine advisors. Chris Chasty, formerly head of the shipping group at accountants Moore Stephens, joins as chief financial officer. The firm is a partnership 51% owned by RS Platou ASA, one of the world’s leading maritime services companies, and 49% by the local management team led by Richard Fulford-Smith.

“Initially we will be concentrating on sale and purchase, newbuilding brokerage and advisory work. Throughout the summer and autumn we will be recruiting more senior people to extend our coverage to all major sectors of the industry, and announcements will be made at the appropriate time,” said a statement from the company. “The credit crunch and the global recession have contributed to create a uniquely challenging environment for all participants in our industry, particularly for owners, shipyards and the banks. Our principal role during this difficult time will be to provide sound, independent and objective advice to our clients – not only to help them through the difficulties, but also to make the most of the opportunities that will inevitably arise during this period.”

Recruitment agent Faststream notes in its Q2 employment report that Platou’s establishment may mark the beginning of a trend: “The era of Norwegian and British co-operation [in shipbroking] appears to be at an end. More British companies are expected to open up offices in Oslo or on the west coast in the coming months and compete directly with their Norwegian counterparts. At the same time more Norwegian shipbrokers will follow fellow competitors and set up shop in London.”

Platou is expected to open a S&P operation in Athens in September or October this year, with ex-Clarkson’s broker Dimitris Ioannou as a key member of the team.

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