Ashley Group is renowned within the marine industry, having specialised in steel shipping and carved out its own distinct niche. Now, after several years of success, the company is undergoing some important changes. CEO Peter Allan explained more, during an in-depth interview with Inside Marine. Report by Imogen Ward.
Over the years, Ashley Group has worked hard to establish itself as a versatile, reliable and multifaceted company operating within the remit of ocean freight logistics. Although this mission has been achieved, the company continues to adapt and evolve its offering in order to maintain a strong, market-leading presence. Its most recent focus? A comprehensive fleet renewal.
“As a group, fleet renewal has always been at the forefront of our minds,” explained CEO Peter Allan. “Of course, it’s the standard cycle of shipping, when buying ships there is always an understanding that they will not last forever and that technology will continue to advance.”
A welcome refresh
Initially, back in 2019, the group was focused on purchasing aged vessels that were built in the early noughts. Since, then the company has been naturally transitioning to a younger, more efficient fleet.
“We wanted to do this in an organic manner to avoid overextending ourselves too much,” continued Mr Allan. “So, every move we make is very much targeted towards what we want to do and how it supports our group and our growth.
In 2024, the company signed a deal that saw four new vessels join the Ashley Group fleet. Initially presented the opportunity
by one of its partners, Ashley Group was onboard with the idea of a deal. After eight months of back-and-forth, the two companies came to an agreement, which resulted in Ashley Group being equipped with three near-new Kamsarmaxes and one Ultramax.
“The collaboration was a perfect match for our growth plans,” said Mr Allan. “It enabled us to expand our fleet without overextending ourselves. Following completion of the deal, we received four vessels, three which were built in 2020 and one in 2019. This was a great success for us and as whole really fit well into our business strategy mould.”
With this deal a roaring success, Ashley Group went on to add another new vessel to its ranks just a few months later. This ship
came in the form of a 184m chemical tanker called Carole M. Built in 2016, not only did the new vessel help increase Ashley Group’s fleet numbers, but it also opened new doors within the chemical sector.
“We have been operating Medium Range (MR) vessels for several years, owning four or five in recent times,” explained Mr Allan.
“Recognising an opportunity to expand into the Handysize segment, we saw strong similarities in the fundamentals of both sizes, making it a logical and promising move.
“Additionally, our experience in the MR sector revealed growing demand for parcelling in the Atlantic Basin. This insight drove our decision to acquire Carole M, a 37,000dwt chemical tanker.”
A new look
Just as Ashley Group’s fleet is undergoing its own metamorphosis, the company felt it was time to implement another important update. This one focused on its website. After sitting dormant for several years, following a renewal in 2019, the company’s website was in need of a refresh to reflect who we are.
“Since our last website refresh, we have evolved into a very different company,” commented Mr Allan. “Of course, our principles remain the same, but we had to evolve and modernise, and our previous website no longer reflected who we are.
“We hope our customers feel the new website is a better reflection of Ashley Group’s journey, which still puts across our values and what we bring to the industry as a whole.”
Although Mr Allan is very proud of the new website, he was also quick to point out that a strong digital presence is important, but not as important as proving what the company is capable of.
“At the end of the day, it’s all about how you perform, how you report to shareholders and whether you actually execute what you are saying online,” added Mr Allan.
Of course, as a company, Ashley Group has been showcasing that commitment
from the beginning, and the results speak for themselves. Since 2021, the company has increased its ship count, cargo book and its employee numbers – with 22 highly-experienced members now positioned within the UK and across the globe.
A greener outlook
As part of this continuous growth, as well as Ashley Group’s broader evolution, the company has also seen a shift in focus when it comes to the commodities it is transporting.
“Historically, we have always focused on products related to the steel industry,” said Mr Allan, “Now, however, we have begun to pivot, and we are diversifying into commodities related to renewables.
“We can see where the industry is headed, and we want to be a part of that transition: adding value wherever possible.”
Determined to make its mark on the green energy transition, Ashley Group is currently
looking to invest in battery-powered ships.
With this infrastructure in place, the company will be better positioned to become a prominent member of the renewables supply chain.
In line with this, the company has also recently implemented a new in-house management team, which is following set KPIs, one of which is focused on ensuring the efficiency of Ashley Group’s vessels.
As the transition continues to progress, Ashley Group believes this will become a more prominent focus of the business.
“We are a young company when it comes to length of operation, but the values that we are implementing come from 100 years of experience,” said Mr Allan, in conclusion.
“There’s a longevity in what we do, which is why we are investing in our employees and in the future of the marine industry.
“We believe Ashley Group will be here for a long time to come and we are ready to help make a difference.”
