An independently listed shipmanagement company is likely to become a reality in the coming years and could aid consolidation in the sector, experts say.

More than one-third of the world fleet is in the hands of public companies, and shipping and offshore firms have raised $1.6bn from initial public offerings (IPOs) this year, according to Clarksons.

Despite that, no third-party shipmanagement specialist has yet tapped the capital markets independently. However, executives believe that is likely to change, with V.Group and Anglo-Eastern Univan mooted as likely candidates.

While shipmanagers do not have the same demands on capital as their shipowning clients, if consolidation in the sector continues, there could be opportunities for companies to list, V.Group says.

“Following the acquisition of V.Group by Advent earlier in the year, the company started on a journey to transform itself into a blue-chip maritime outsource partner that delivers the service quality and level of professionalism that leading logistics and support services companies achieve in other sectors,” Advent International director Haris Kyriakopoulos tells TradeWinds.

“While we will not make any decisions regarding an exit and potential listing for a number of years, we believe public market investors would be highly interested in an opportunity to invest in a business like this and gain attractive exposure to longer-term growth in the maritime sector.”

Anglo-Eastern Univan chief executive Bjorn Hojgaard sees the rationale for larger players in the sector to float but stresses his own company does not have immediate plans to do so.

“If it can help drive professional standards, I think it would be a big win for the industry,” he tells TradeWinds.

“Depending on the shareholder structure, an IPO could also generate some liquidity in the shares and give clients an opportunity to buy into a shipmanagement company.

“We are privately owned with relatively few shareholders, so you won’t see us stock-listing in the immediate future, but I can definitely see a rationale for the bigger companies."

Wilhelmsen Ship Management president Carl Schou says a manager going public would bring a number of positives, including a boost to the sector's image.

“Potentially, I see that some of the larger shipmanagement companies could become public companies... for several reasons. I expect this to happen within the next three to five years.”

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InterManager secretary general Captain Kuba Szymanski believes the sector's first IPO is “just around the corner”.

“I do believe it will be very good for our industry, as we will start being seen as serious players — players people can make money on,” he says.

“Shipmanagement is a very mature industry, like many other industries, and why should we be denied stock exchange benefits?”

This article is part of the October 2017 TradeWinds Shipmanagement Business Focus. Read the full report here.