Low Cost High Risk

A leading UK private maritime security company (PMSC) that has set up in Singapore has warned shipowners in the region of the need to watch out for myriad firms who are charging incorrectly for their protection services.

Freddie Hall, relocated in the past couple of months as business development manager for REDfour Maritime Security Solutions in Singapore, warned: “Reputable PMSCs are aware of the need to limit costs and will work with clients to achieve this. However, it’s important to keep in mind that there are some providers that are quoting unsustainably low in order to win transits and it’s these, less reputable companies that can cause problems.”
For example, unpaid agency fees can lead to vessel arrests or worse, Hall said, and there have been recent examples where serious delays have occurred as a result. Hall’s advice is to work with your provider to ensure that they are operating in a sustainable and regulated manner.
Some of these concerns will be mitigated when a number of PMSCs will have conformed to ISO 28007, an accreditation which will go a long way to providing such assurances.  REDfour expects to have its in place in October.
On the rationale to set up an office in Singapore at Suntec City to go alongside REDfour’s hq in London and its Sri Lankan outpost, Hall noted the “seeping migration” of shipmanagement from the UK towards Asia.
“Owners and managers have been very welcoming and are principally interested in gaining intelligence on maritime piracy and learn about new solutions, particularly in West Africa,” Hall said.