COMPANY PROFILE

London Ship Managers (LSM) can trace its roots back to the Union Castle Steamship Company and other members of the British & Commonwealth Group such as the Clan Line and the King Line. It was out of those prestigious companies that CI Shipping of London was born as a Ship Manager.

In 1992 CI Shipping of London and Safmarine of Cape Town decided to pool their Ship Management knowledge and experience in the reefer ship business to form a new company called London Ship Managers. The aim of this new company was to manage the reefer fleet owned by Safmarine and the fleet operated by the De Nadai Group of Italy for which CI Shipping had been the manager for many years. There had always been a long standing tradition of joint ventures and commercial co-operation between Safmarine and the De Nadai Group, this had extended through to the chartering arm of Safmarine namely Universal Reefers Limited.

It was therefore a natural choice to extend these commercial arrangements by forming a joint technical management organisation, which would be dedicated to the operation of their vessels using the recognised expertise of their respective management teams who had a common background of maintaining stringent high standards and the ethics associated with a high profile ship owning company. In July 1993 both fleets of vessels were successfully merged into one technical management team based in central London and staffed by employees from both CI Shipping Ltd and the Safmarine Group.

Through this pool of vessels LSM quickly became respected in the trade and recognised as one of the larger managers of this particular type of ship in the United Kingdom.

Both shareholders enjoyed the benefits of the expertise contained within the shore based management team and the sea staff , all of which had been in the industry for many years. The economy of scale which had been sought was immediately effective with the operating costs of all the vessels coming down to a very competitive rate and allowing the fleet to compete successfully in the open market.

In 1999 Safmarine sold most of its reefer fleet and it's shares in LSM to its partner, the De Nadai Group. So today London Ship Mangers Limited is a wholly owned company of the De Nadai Group of Padua in Italy. .

LOCATION

LSM is based at St Clare House in the Minories within the City of London, close to the Lloyds Building, the Baltic Exchange and the Chamber of Shipping.

Compiled & Edited by : Captain Ian K Wise Dated : 1st January 2005 Chief Executive