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Editor in chief: Angelo Scorza
03/09/18 11:01

Shield Services took over Coeclerici's logistics

Having taken over the technical management of the naval units recently sold by the group, the newly founded Milan-based company headed by Corrado Cuccurullo plans to expand also on-land

Corrado Cuccurullo and most of Coeclerici Logistics' technical-operational staff form an integral part of the newly established Milan-based company Shield Services (with branches in Jakarta and Dalian), that took over the technical management of the logistics division of Paolo Clerici's group when it sold its transhipper fleet.

A dozen naval engineers joined the company founded by Cuccurullo, former Coeclerici Logistics Chief Operating Officer and current CEO at Shield: 7 work in Milan, 1 in Dalian and 2 more in Indonesia, where the new company is particularly “strong” due to its previous experience.

Thanks to their know-how acquired during the years spent at Coeclerici Logistics, Shield and its staff – which, according to Cuccurullo, is a spin-off of the former – can easily manage 7 units specialized in dry bulk offshore handling, especially the transhippers Bulk Limbopo and Bulk Zambesi which, after having been used by Vale Moçambique, were sold by Coeclerici to a subsidiary of the Brazilian group and, following the termination of the agreement in Mozambique, are currently in Singapore, waiting to be deployed in coal mines in Indonesia.

The other five units managed by Shield, i.e. ABL's (Asian Bulk Logistics, a company established in Jakarta in 2010 and 49% owned by Coeclerici, which is currently 100% owned by their Indonesian partner Chartswood Logistics Pte Ltd) four naval units, and another unit belonging to Transcoal Pacific operate in the same geographical area and for the same type of cargo.

Besides direct naval management, Shield also carries out consulting services (for the Italian Intergen and for Louis Dreyful Armateur). However – Cuccurullo explained – although it focuses on dry bulk cargoes offshore logistics, Shield plans to deal also with on-land handling (with the most promising opportunities in Indonesia), as well as with designing units and plants since this is one of the skills acquired at Coeclerici Logistics.

“We will close 2018 well, while for 2019 we hope to add new contracts to those related to the 7  units that we are currently managing. I am optimist about future opportunities for our company because I believe that for operators – especially those with up to 4 naval units – it is more convenient to entrust their technical management to third parties rather than keep it ‘in house’, both due to costs and in view of optimizing their performance”, Cuccurullo concluded.

Francesca Marchesi