THE PARTNERS in Melbourne-founded RightShip are looking for a new minority investor to support the company’s ambitions to grow its data and technology capabilities as it provides support to new and existing customers.
“RightShip’s mission is to enable our customers to achieve Zero Harm in the global maritime value chain – zero harm to vessels, to people, and to environment – through unique data and actionable insights. We do this by constantly strengthening our market and product relevance and augmenting our data and technology capabilities,” the company said in Singapore on Friday [23 May].
“As the need for safety in the global supply chain increases and the development of data and technology accelerates, so does the potential and the pace of RightShip’s growth. To support our growth ambition, we are currently exploring strategic options to bring in a new minority investor who shares the same mission, purpose and values as RightShip and its current shareholders.
“The existing investors, BHP, Cargill and Rio Tinto, will remain as shareholders and continue to fully support RightShip through its next phase of growth. This consideration is driven by our commitment to delivering long-term value to our customers, employees, shareholders, and the global maritime industry.”
The company’s primary goal is to partner with an investor who brings not only capital but also significant expertise in data and technology and transformational growth, and is thus seeking a partner with the ability to provide valuable insights, resources, and track records that will support RightShip to accelerate growth.
“Together, we will innovate our product offerings, supercharge our data, technology and AI capabilities and deliver delightful customer experiences - all with the intention of working to achieve zero harm in the maritime industry.
“To this end, RightShip has engaged Rothschild & Co as the financial advisor acting on behalf of RightShip and its shareholders.
“We are early in the process and committed to conducting this process with the utmost confidentiality and discretion to prevent any market speculation or disruption. We will keep our stakeholders informed as we progress and ensure that any decisions made are in the best interests of our valued customers, the company, its employees and our future.”
RightShip was established in 2001, founded and steered for 15 years by Capt Warwick Norman AM, who since his retirement has remained active in the industry, including his current role as a member of the AMSA board.