INCHCAPE SHIPPING: Strategic Investments Accelerate Inchcape on Global Growth Journey

Connecting the world through trade is the backbone of Inchcape Shipping Services. This major organisation, of international importance, traces its roots way back to 1847 when two seafarers from Scotland formed a partnership to carry mail and other cargo on steamers around the British Empire, mainly working for the East India Company.

Today, the company is very different but still embodies the ambition and global thinking of its history. Now, 253 offices in 60 countries, manned by more than 3100 people, help to keep the world moving.

With a vision of connecting the world, and helping customers to trade successfully by making better decisions in every port, everywhere, Inchcape shipping has been on a growth journey recently, acquiring new companies and building on success at various sites around the world.

In June 2024, the major announcement came that the company had struck a deal with the Grieg Group to acquire Grieg Logistics AS. Looking to strengthen its position in the Nordics, and specifically across Norway, Inchcape was excited by the heritage and quality of Grieg Logistics – which operates terminals at Tønsberg, Mosjøen and Skålevik, with offices in Tønsberg, Larvik, Bergen, Mongstad, Kristiansund and Mosjøen and a ship agency presence along the Norwegian coastline. This growth in Norway will further enhance the Inchcape reputation as an industry leader in tanker, cruise, dry bulk, liner, government, ship manager, and offshore sectors.

“Inchcape and Grieg Logistics have enjoyed a long-standing partnership, first formalised in 2019,” said Inchcape Shipping Services CEO, Philippe Maezelle. “The partnership facilitated the sharing of technologies and the expansion of port agency support in Norway. We are extremely excited to welcome the Grieg Logistics team into our organisation. We look forward to providing even greater service and coverage to our combined customer base.”

Initially, little will change as the pair integrate. Greig Logistics will operate under the same banner and CEO Stig Trygve Andersen will continue to lead the team.

“Inchcape Shipping Services and Grieg Logistics complement each other perfectly, and we eagerly anticipate the continued growth of our business areas within Inchcape,” he said.

In Norway, the company is now able to offer better value, bigger knowledge, more services, and solutions that others cannot.

GLOBAL GROWTH

The mindset of constant growth is evident across Inchcape and recent success in Singapore, Trinidad and Tobago, Oman, the Philippines, and Chile are indicative of the way the company will enhance its value for clients.

In the Middle East, the energy industry is prevalent and shipping is largely centred around oil and gas. Oman is a major oil and gas exporter with 5.2 billion barrels of crude and 24 trillion cubic feet of gas reserves. In this space, Inchcape has significant expertise and Inchcape Shipping Services Country Manager for Oman, Tejas Parmar, is confident about the future thanks to an unrivalled service portfolio.

“The country’s proximity to major east-west shipping lanes and the Strait of Hormuz, which is a vital chokepoint in oil transport, makes it a crucial player in global maritime trade. Approximately 20% of the world’s petroleum passes through this narrow waterway,” he says.

“Without a doubt,” he adds, “the country’s busiest trade centres around the oil and gas industry, which forms the backbone of the economy and lion’s share of Oman’s export revenue. As one of the largest crude producers in the Middle East it is fortunate to have substantial oil reserves. Natural gas is both exported and used domestically for energy and industrial purposes. There’s also a well-developed petrochemicals sector, creating additional value and export products.

“The major benefit for customers of working with us end-to-end is they avoid a fragmented supply chain working with different agents and suppliers in different ports; whereas we offer the same service excellence across all our stations. Our 24/7 operations can help reduce overall costs through efficient coordination of local vendors and supporting services.”

In South America, Inchcape opened its newest office at the Port of Arica in Chile in September. The northernmost port on the continent and strategically located alongside key regional markets, this position offers Inchcape and customers local knowledge from Port Agent Rodrigo Narvaez and opportunities across multiple industries including bulk, fuel, and cruise.

“This expansion is a significant milestone for Inchcape, positioning the company at the heart of South America’s northernmost port, close to the Peru border, and at the gateway to an expansive hinterland encompassing parts of Peru, Bolivia, and Brazil,” the company said.

In a similar vein, the company launched, in June, its enhanced offering in Trinidad and Tobago. A new office and new warehouse facilities form part of a strategic expansion in the Caribbean to support the offshore market. The office in Chaguaramas and the warehouse in Point Lisas optimise the storage and handling of spares, provisions, and equipment, ensuring that Inchcape continues to set the standard for seamless operations and cargo management.

“With a clear vision for the future, our new facilities in Chaguaramas and Point Lisas are strategically positioned to serve the demand in the bustling hub,” said an ambitious and excited Trinidad and Guyana’s Marine Services Manager, Kishan Ramoutar. “The Chaguaramas Bay area, known for its comprehensive repair yard and drydock facilities, plays a crucial role in the commercial maritime industry, particularly in the offshore oil and gas sector. Our presence here is a testament to Inchcape’s dedication to supporting these critical operations with unparalleled expertise and efficiency.”

EXPANSION IN THE EAST

Unlike other parts of the world, southeast Asia continues to achieve economic growth amidst global challenges. Booming populations and strong international relations allow countries in the region to partner with worldwide organisations, especially in logistics.

Inchcape holds a robust position across the APAC region but has furthered its strength by investing in the Philippines and Singapore.

With a new office in Manila, Inchcape is looking to support activity in the offshore energy sector as the Philippines invests in projects including wind and oil and gas.

“Recognising the array of opportunities in the Philippines, Inchcape is positioning itself at the forefront of service provision for offshore wind projects, cable laying, oil and gas developments, and extensive reclamation undertakings. These initiatives underscore their dedication to being a pivotal player in the growth of the maritime industry in the Philippines,” the company said.

General Manager, Jonathan Guanzon is tasked with building relationships across government services as well as military, energy, and bulk transport. The new office will support operations at the major ports: Manila, Bataan, Batangas, Subic, and Palawan.

In Singapore, the company is an industry leader with a range of services on offer for clients. A major hub on the global shipping map, Singapore has opportunities for growth that are often unmatched by other geographies. Inchcape Singapore General Manager, Benjamin Oh, is well aware of the potential in his region, also overseeing work at ports in Indonesia – Batam and Karimun.

The full Inchcape suite is offered from Singapore, and the local team is innovative in its approach to problem solving.

“As a one-stop shop, customers can get everything they need without having to deal with multiple vendors and service providers,” says Oh. “In fact, many in the industry don’t seem to be aware that we aren’t just simply an agency. We provide integrated logistics and supply chain activities, including air or sea freight, survey and inspection (S&I), warehousing, end-to-end project solutions, sustainable port operations (SPO) as well as Disbursement Account (DA) management (OneCape DA), to name just a few. One of our key strengths is that we’re always able to find solutions for our clients, even for unique requests.”

With a deep understanding of offshore energy and ship agency services, this strategic centre can work across industries for companies with a broad scope of operation.

“Compared to our peers we have a very wide global footprint, with a lot of customers based here in Singapore as well, so they can engage immediately with our teams to explore innovative solutions not only within Southeast Asia but the entire APAC region and across the world, enabling them to grow their business with a strong global partner based locally in Singapore. In addition, we have very large volumes, so we can offer discount rates for hotels, launches, towage, de-slopping and transport,” says Oh.

All of this growth comes through the innovation and forward-thinking mindset of Inchcape’s people. The company leverages the strength of local agents and regional partners, building lasting relationships, and offering knowledge of a port that few others can claim. Ultimately, Inchcape is on track to achieve its mission of connecting partners to a smoother, smarter ocean, all thanks to its investments in best practice.