affiliates. In fact, the affiliates do not account
for the most volume anymore; it’s around 40
per cent now. Most of our revenue
now comes from third parties,
so we’ve been expanding
our customer base
outside our group of
companies.”
With the listing
and subsequent
increase in third-party
customers, Chelsea
Logistics has broadened
its capabilities. “We’ve
been able to establish
better systems and improve
the company,” Chryss says. “With
that listing, we are now lining up a lot of
programs, including increasing our fleet,increasing our routes, improving our system,
and expanding our business.” The listing has
made Chelsea Logistics even stronger
business-wise and has opened up
the potential for more
opportunities in the future.
“Being listed, we have
better corporate
governance,” Chryss
adds. “The proceeds of
the listing have meant
our rates are improved
and we have the money
to further expand the
business. Strengthening the
balance sheet acts as a small
leverage, if we need to borrow from
banks for big projects that we can’t cover.
We see a lot of opportunities with being
listed and, if we remain disciplined, there will
be more passed on from financial institutions,
which will allow us to deliver.”
In addition, Chelsea Logistics has become
better equipped to deal with the market.“If you compare
Chelsea two years
ago with Chelsea
now, it’s an entirely
different company.”
“Keppel Offshore & Marine, with its network of 15 yards
and offices worldwide, responds efficiently to its customers’
needs. In the Philippines, Keppel Batangas Shipyard and
Keppel Subic Shipyard provide ship owners such as Chelsea
with extensive and reliable services.” – Leong Kok Weng,
President, Keppel Philippines Marine, Inc.Half page advert
Keppel Philippine Marine Drawing on expertise f rom a long history of
operating shipyards i n t he Philippines and
leveraging t he global r each and synergy of
the Keppel Offshore and Marine Group, we
at Keppel Subic Shipyard and Keppel Batangas
Shipyard offer i nnovative solutions and a
bbroad spectrum of s hip repair, c onversion
and f abrication service s.http://www.keppelphilippinesmarineinc.comProvider o f c hoice,
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