Gold Magazine June - July 2013, Issue 27 | Page 72

CYPRUS SHIPPING DIRECTORY

ÖSTERREICHISCHER
LLOYD SEEREEDEREI
(CYPRUS) LTD

Capt. Eberhard Koch
Chairman & CEO, Managing Partner

F

ive years ago, Österreichischer Lloyd decided
to convert its operations from those of a
third-party ship manager and to become a
pure shipowner.
We wanted to concentrate solely on ownership
of a particular segment since we had, at that
time, a purchase agreement for 6 MPV newbuildings, to complement the other younger
ladies in our fleet. The third party managed
vessels were becoming of age and, obviously,

70 Gold THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS

As a ship owning company, what criteria
did you take into consideration before
deciding to register your vessels under the
Cyprus flag?
This question is very easy to answer. For Österreichischer Lloyd, Cyprus is an international Maritime Centre with a “white” flag
of excellence, with a Department of Merchant Shipping granting us extraordinarily
excellent and highly knowledgeable daily
support. Cyprus is an EU Member State
and offers low set-up and operating costs for
shipping companies if one compares them
to other shipping-orientated destinations.
Cyprus is very strategically located and offers
excellent modern communication and travel
facilities whilst holding flexible passport of
access to three continents within proximity.
It offers highly qualified and experienced
managerial, administrative and technical
dedicated bilingual staff. Corporation tax

Photography: Jo Michaelides

more of an economical burden. The transition has been very successful indeed and we
are very happy with the decision taken. We
aim at guaranteeing the best possible safety,
and quality and competence for which our
name stands for competence..
An additional strong positive aspect from
this conversion to pure ownership was the
utilisation of the excellent skills of the existing seafarer pool , exclusive to our vessels.
Each of the valued seafarers thoroughly welcomed our decision and we are receiving the
return tenfold on a daily basis.
Whilst affording the necessity of dedicating additional quality time and concentration on the specific market segment of our
vessels towards our esteemed charterers, we
are receptive to strong new investors/strategic partners who are of a similar mind in
preparation for the future and new promising projects, or to potential third party management in the future. We are always open,
willing, ready and abl e at any time.