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P.F. Bassoe AS & CO. (ID: 8180)
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Company Profile Tanker Chartering Our company has a major position within tanker chartering clean and dirty, and the whole world is our scene. It is thorough knowledge of the world tanker fleet and close relations to shipowners and charterers that make for a good result for the customer. Our post-fixture department is professionally taking care of each fixture, an important element for a smooth fulfilment of each charter. Source: Bergesen d.y. ASA Sale and Purchase We are advising on sale and purchase transactions of any nature. Expertise, coupled with the ability to locate the right buyer, seller, yard, type of vessel, price and financing is our product. PFB's ambition is to continue to serve the international shipping industry in the forthcoming years in a professional manner. By providing accurate market information and business proposals our aim is to contribute with optimal solutions for our clients. Project/Finance Current activities/ projects include: Advising on share transactions between stocklisted companies. Various transactions in the direct investment (K/S) market. Advise on financing of vessels. Asset protection management. Freight Derivatives PFB are involved in over the counter (OTC) and cleared products in both crude and clean markets. We believe that the freight derivatives market will see considerable growth in volume over the next few years and are committed to taking part in developing this market. As a part of this commitment we have taken a shareholding in the freight futures exchange, Imarex, and have also introduced an introductory service whereby our direct clients may test the system on a limited and temporary basis via our membership in order to promote liquidity. Freight derivatives, both Imarex futures and FFA?s, are in essence Swap contracts settled against an index (usually BITRA or Platts). At expiry the contract is settled in cash (cash for difference) with no actual physical voyage taking place. These contracts are increasingly becoming an integral part of the risk management tools available to tanker companies and/or traders with an exposure to the industry: Oil companies/Refiners/Charterers: - Lock in future freight cost - Rate protection while retaining flexibility of choise of vessels - T/C aletrnative (more liquidity/availability compared with physical timecharter) Shipowners: - Lock forward revenues, stability of cashflow - Rate protection but still flexibility in physical market to take advantage of combinations - Cometitive alternative to the T/C market which is very illiquid - Trade other segments Traders (finance institutions/investors): - Control cost of freight when trading oil (physical or implied when trading parer) - Trade the paper => pure exposure alternative to other products (buy/sell FFA instead of shares) In general no restrictions to physical operations: o Free to choose ships, ports etc according to spot requirements o No weather or vessel delays and resulting freight volatility o No requirement to move physical cargo or vessel Asset Protection Management Problem loans and workout situations in general are costly both in terms and management time. Outsourcing brings in practical experience in the day to day running of operational aspects as well as private disposal solutions, in addition to freeing up management time. Newbuilding PFB provides services for our shipping clients in the global market for newbuilding of ships. We maintain a close contact with the leading shipyards, and are able to keep our clients updated about price trends and development of designs and technology. We assist our clients in evaluation of offers, contract negotiations and contract administration during the construction period. Market research We do market reasearch on an ongoing basis. The objective of our research is to provide our clients with timely and accurate information on current and future market developments, in order to identify turning points for freight rates and asset values in the highly cyclical shipping market. The research work includes monitoring of the macro environment in general, and of the oil market in particular, in order to better understand how freight volumes and trading patterns will impact demand for tonnage. We also closely follow the development of the fleet in important segments, including ordering and deliveries of new vessels and scrapping of old tonnage. About us P.F.Bassoe AS & Co. (PFB) is a leading name in international shipping since 1972, actively involved in tanker chartering and sale and purchase as well as shipping corporate finance transactions. We work a comprehensive list of customers including most Norwegian and Scandinavian shipowners in addition to well-reputed international names. We are also in direct dialogue with oil companies, foreign and domestic. Currently we have a staff of 28 professionals. PFB is owned by Pareto AS, a major Norwegian investment bank. PFBs aim is to assist our clients in reaching their goals and increase their profitability by producing an added value when conducting business on their behalf, and achieve this through customer relationships based on mutual trust and our long term commitment to dedicated market segments. P.F.Bassoe AS & Co. (PFB) is a leading name in international shipping since 1972, actively involved in tanker chartering and sale and purchase as ... P.F. Bassoe AS & CO.