Extensive know-how in a niche market

Brax Shipping has gone through a unique evolution in the global maritime industry since it started as a shipbroker in 1982.

"We specialize in passenger car ferries, cruise and Ro-Ro vessels and we started with these sorts of ships by accident and soon realized it was best to concentrate on this segment. We have grown ever since," recalled Director Johan Brax.

Founder Sven-Olov Brax, a former ship captain and an industry veteran, attributed its success to the decision to operate in a specific field of the industry. "Our segment of the market is so small that we can cover the whole world. There are very few brokers in Europe that does only what we do," he stressed.

Though operating in a niche market, Brax Shipping sees great potential for continued growth as it works more closely with ship owners worldwide.

Its reputation for building long-term client relationships and vast knowledge of the industry have made the company a leader in its field.

Although still optimistic about the firm's growth prospects, Sven-Olov is also concerned about some governments' requirements on the age limit of vessels.

"The ships need to follow international requirements, but the lifespan of ferries and Ro-Ro vessels are considerably different from that of bulk carriers and tankers. This is a very important factor to consider," he said.

Brax Shipping is also seeking to expand its presence in China in the near future.

"We already have contacts in China, such as that with Star Cruises. And we are looking forward to further expansion there," said Managing Director Martin Karrhage.

The company believes that China displays huge growth potential in the ferry and Ro-Ro segments and wants to be there when full growth happens.

"China is a big, fantastic market and when they start to develop its ferries and Ro-Ro's, it will be an interesting opportunity to enter this market as shipbrokers," Karrhage said.

The Brax team hopes that its presence will be an integral part of the sustained development of the maritime industry.

With over 26 years of experience in a niche segment of shipping, Brax offers clients the knowledge and experience needed for today's increasingly competitive standards.

www.braxship.com

(China Daily 03/02/2009 page6)