Bernhard Schulte Shipmanagement (BSM) Hong Kong was established to support the world-class ship management services for demanding clients worldwide. Having operated successfully for almost 45 years, the company is now enjoying a strong period of growth. Managing Director of BSM Hong Kong Captain Firoze Mirza explained more, in conversation with Imogen Ward.
When BSM Hong Kong was established back in 1981, it was the first outpost of the Schulte Group in Asia. Ever since then, the company has been living up to its reputation.
“Originally operating under the name Eurasia Ship Management, BSM Hong Kong had many years of successful operations before it merged with its sister companies under the BSM brand,” revealed Managing Director of BSM Hong Kong Captain Firoze Mirza. “Today, we are one of 11 ship management centres
of Bernhard Schulte Shipmanagement and provide a crucial comprehensive offering to ship owners and investors not just within Greater China and East Asia, but worldwide.”
A strong foundation
BSM is one of the largest third-party ship management companies in the world and a leader in maritime excellence. Drawing on the legacy of its group, BSM Hong Kong has been experiencing a consistent and steady expansion.
“When I joined as Managing Director in 2010, BSM Hong Kong managed around 10 vessels,” said Captain Mirza. “We have been on a continuous growth trajectory ever since and now manage around 54 ships. Not only have we expanded the number in our fleet, but we have also greatly expanded our scope of operations.
“We took over large container vessels as they came in, which have a capacity of up to 20,000 TEU; expanded into very large ore carriers; and are now moving quite aggressively into alternative fuels.”
Over the years, BSM Hong Kong has also successfully expanded its workforce and service portfolio to maintain its commitment to delivering the highest quality ship management service.
According to Captain Mirza, this continuous growth and success can be attributed to BSM Hong Kong’s values as a family-owned business.
“BSM Hong Kong has remained a family-owned business for several generations and will continue to be so in the future,” commented Captain Mirza. “This foundation allows us to take a long-term view without the additional pressure of making short-term profits. Our shareholders also share that same long-term thinking, focusing not on the next quarter, but the next quarter century: an outlook that allows us the freedom to bear the near-term investment costs for a long-term return.
“With 20 per cent of the global fleet currently under third-party management, there is a good business case for expanding that figure further. We have geared ourselves up and invested heavily to meet that growing demand.”
Innovation applied
BSM Hong Kong also recognises that the ever-changing business environment brings new challenges that must be addressed. To overcome these hurdles, the company fully intends to continue bringing new innovative solutions to the table.
One example is the sharp rise in requirements for emissions management to comply with regulations on the decarbonisation of shipping. New regulations such as EU ETS or FuelEU Maritime
require consistent and efficient compliance measures from ship managers. In this context, BSM relies not only on its expertise, but also on the development and use of innovative digital solutions. For example, BSM and its specialised emission compliance teams have introduced the FuelEU simulator and FuelEU dashboard.
Designed to help clients better understand and predict the ins and outs of current FuelEU Maritime regulations, the two systems are fully integrated into BSM’s PAL ship management software and are accessible for all BSM clientele.
“Collectively, such advanced systems provide BSM and our clients with a strong competitive advantage,” shared Captain Mirza. “The Dashboard assists clients in estimating anticipated GHG intensity, compliance balance and potential FuelEU penalties based on a vessel’s reported fuel data for various fuel types. Additionally, the Simulator allows users to model the impact of modifications on managed vessels, delivering actionable, ship- and trade-specific insights to help minimise compliance costs.
“When it comes to emissions data submission, there is a huge delay between
emissions and submissions – which often leaves many operators completely in the dark. This software helps our customers avoid any nasty surprises. Best of all, the Dashboard is future-proof thanks to its ability to switch between different fuel types, allowing for an accurate comparison of potential compliance cost savings across the various fuels of the future.”
Another example of BSM’s innovation is its Fleet Performance Centre which was
established several years ago. Utilised to track fleet performance in real time and provide alerts when elements need correcting, the centre is a crucial tool for many. Of course, its usefulness does rely on user proficiency – something that BSM Hong Kong and its sister centres are all too happy to provide.
“We have found that when it comes to using these types of tools, the biggest errors are usually created during the reporting stage,” explained Captain Mirza. “We go to the effort of providing our crews with in-depth training to ensure they understand how to report the information correctly.”
Investing in development
Understanding the true value of crew training, BSM has invested heavily in this area of the business, and BSM Hong Kong regularly takes advantage of the 28 BSM Crew Service Centres and six Maritime Training Centres at its disposal.
“Last year alone, BSM trained over 32,000 seafarers at our centres,” continued Captain Mirza.
“After a seafarer has completed the course, we find they are more enlightened
and have a greater appreciation for the importance of taking care at all times.
“With in-house training being such a success, BSM opened four new crew service centres in 2024 and a brand-new Maritime Training Centre in Ghana this year.”
Looking to the future, BSM Hong Kong intends to continue implementing its first-class training regime to retain its leading market position. Additionally, as it continues to advance within the segment of alternative fuels, BSM Hong Kong expects to utilise BSM Group’s prior experience with LNG to its advantage.
“BSM has a huge amount of experience operating LNG carriers and vessels with LNG Dual Fuel engines,” said Captain Mirza. “This experience has provided us with a set of
skills that we feel are also transferrable to other non-LNG alternative fuels like methanol or ammonia. We also have access to a pool of more than 5,000 seafarers that have gas carrier experience. These factors will really help us in the future as more of our clients seek out alternative fuel sources.”
Whatever the future brings for BSM Hong Kong, the company intends to remain focused on what is most important.
“Ship management is a very personalised business, and our clients need to be able to trust us,” concluded Captain Mirza. “After all, they are allowing us to look after assets collectively worth billions. We rely on the entire BSM network to ensure that every client feels like a priority. That is the BSM way.” n
