interview to the Group. John knows the name of every member of staff and says they are all treated as family members. John is a hands-on leader and there are not many positions that, in an emergency, he could not take over. “I have never really been concerned with having partners in my business. Today Gibunco is a team leading the company forward and I think the success has been in diversifying. Whenever I have needed a partner or a potential partner then business has been done for that specific contract. In all Gibunco Group companies there is a close knit relationship between management and the employees.” The Ministry of Defence became a client and together they built Rosia Jetty, incorporating seawater intakes for the MOD desalination plants, laid pipes underwater and built sea defences and repaired quayside walls below sea level. If there was a problem, John would be consulted and when necessary he would fly to London and elsewhere to find a solution and buy the necessary equipment. After the success in cleaning hulls in Gibraltar, John thought about expanding the business. Gibunco became a Scamp subcontractor and so was able to use the company’s patented SCAMP hull cleaning machine. It became apparent that Scamp was the answer to his plans to operate in other ports. Scamp was owned by Butterworth, a subsidiary of the Exxon Oil Company, at the time when oil companies were diversifying. Suddenly Exxon decided to concentrate on oil and sell non-oil businesses. John saw his chance and, after much negotiation, in 1985 bought the Scamp business which operates worldwide. It was a perfect mix as it enabled John to sit down with the directors of the largest worldwide shipping companies and sell Scamp’s services which previously had never been sold in such a direct fashion. When the GSLP, under Joe Bossano, won the 1988 general election in Gibraltar, one of the most important issues was finding a solution to the ongoing problem of the future of the Royal Navy’s dry docks, where 800 jobs were under threat. The British Government had
John meets future wife Eileen at a dance performance
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awarded the contract to manage the commercial operation to Appledore International. This included a £28 million payment — provided an agreement was reached with the workers and the Union. However Appledore only agreed to retain about half of the jobs. Joe Bossano did not wish to rely on Appledore to market the usage of the dry docks as a commercial operation. John Bassadone was alerted by his UK Scamp Agent that the Government of Gibraltar, during the first weeks of the GSLP Government, were about to appoint Appledore as the marketing agents for the shipyard. John immediately approached the Chief Minister to propose that he gather, from Lloyd’s of London Intelligence, the data and nationality of all ships passing through the Strait of Gibraltar which were suitable, owing to their size, to use the Gibraltar shipyard. This enabled John to distribute information to his worldwide Scamp Agents and instruct them to target the owners of vessels which would passing through the Strait. Shortly after ship enquiries started coming in to his office, John requested the Shipyard directly appoint these agents, enabling him to withdraw from the scene. In 1989 only 200,000 tons of bunkering fuel were being supplied in Gibraltar, mainly by well established companies such as Shell Gibraltar. John considered this volume to be very small considering around 70,000 ships passed through the Strait every year, so he
...it enabled John to sit down with the directors of the largest worldwide shipping companies and sell Scamp’s services which previously had never been sold in such a direct fashion
joined forces with CEPSA and CEPSA Gibraltar came into being, able to supply a physical bunkering service. This enabled Gibunco to compete with the major oil companies in the Gibraltar market. Today Gibraltar is one of the premier bunkering hubs in the Western Mediterranean and one of the most important refuelling stops for vessels. Gibunco is one of the engines of the highly successful Port of Gibraltar. Now John was in a position to start the serious wooing of ship owners as the business depended on a close relationship with the two different arms of the business — technical and commercial with bunkering coming under the later heading. Both ultimately come under the control of the managing director. John was now able to offer ship owners fixed price packages, inclusive of agency fees and port charges, and became one of the first international companies to do this in respect of bunkering as SCAMP underwater services, and ship agency. Even though John never allowed any third party access to decision-making in Gibunco, he did form partnerships with other local business groups to achieve certain objectives. Gibunco together with local companies Benpar and Pegasus, created Gibraltar Homes to enter the property market in 1988 when the GSLP came into power. Their manifesto declared that flats would be constructed and made available to reduce long housing waiting list and Gibraltarians would be able to buy their own apartments. Up until then it had been very difficult for Gibraltarians to obtain a mortgage. The answer was the 50/50 shared ownership arrangement where the Government owned 50% of the flat and the occupier the other 50%, with an interest free loan. As there was limited land available it was necessary to build on reclaimed land. John said: “Montagu Group then attracted to Gibraltar international companies that were eager to pursue the business of reclaiming land and building apartments. After the 1988 election the Government wanted more land reclaimed for housing, commercial and office space. A joint venture company was set up between the Government, a Dutch company
Cool kid! John J Bassadone as a child
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