The newly formed company based in Milan and headed by Corrado Cuccurullo, took over the technical management of the off-shore transhippers recently sold by the group, and now aims to expand also on-shore.
There is not only Corrado Cuccurullo behind the new brand Shield Services, but also a large part of the technical-operational staff that was in force at Coeclerici Logistics. A new company with its headquarter in Milan, and branch office in Dalian and Jakarta which, when the logistics division of the group led by Paolo Clerici sold its vessels, took over their technical management.
There are in fact ten professionals, mostly naval architects and marine engineers, who migrated to the new business reality founded by Cuccurullo himself, previously Chief Operating Officer of Coeclerici Logistics, and now CEO of Shield. Seven of these are stationed in Milan, one in Dalian while two others are mostly engaged in Indonesia, an area where the newly formed company is particularly “strong” given its previous experiences.
Thanks to the know-how gained over the years with Coeclerici Logistics, Shield and its staff – which, explains Cuccurullo, it is practically a spin off of Coeclerici, given also the friendly relations with the former parent company – in fact, they were able to easily take on the management of 7 specialized vessels for off-shore handling of dry bulk. Among these, first of all the Bulk Limbopo and Bulk Zambesi transhippers which, after being employed by Vale Moçambique, had been sold by Coeclerici to a subsidiary of the Brazilian group, and now, after the contract in Mozambique, they are in Singapore waiting to pass again to start a new job.
In the same area and for the same type of cargo, are employed the other five units operated by Shield. The four transhippers of ABL (Asian Bulk Logistics, a company established in Jakarta in 2010 with Coeclerici at 49%, and that is now entirely held by the indonesian partner Chartswood Logistics Pte Ltd), plus a fifth transhipment unit that is owned by Transcoal Pacific.
In addition to the direct ship management, Shield has dedicated itself to consultancy activities (for the Italian company Intergen and for Louis Dreyfus Armateur), but – explains Cuccurullo – although for now it is naturally focused on off-shore dry bulk logistics, the intention is to expand the range of action, both for the on-shore part of the bulk handling activities (and in this respect the most promising opportunities seems to come from Indonesia), and for the design of on-shore bulk handling facilities and equipment, this being also a competence that is part of the background gained over the past years in Coeclerici Logistics.
“We will close 2018 well. For 2019 the perspective is good, although we hope to add some further contracts to those for the 7 vessels we are currently managing”, concludes Cuccurullo, who adds: “I am optimistic about the opportunities that could arise for a company like ours, because I believe that for operators – especially those with up to 4 vessels – it is more convenient to outsource the technical management to third parties rather than keeping it ‘in house’, both for cost reason and performance optimization “.