“Diversifying Business Operations with Shipping and Welfare at its core”
Norstar Group, headquartered in Singapore, specializes in the operation and management of specialized tankers that transport petrochemical products. In 2022, the company divested its owned vessels and is now pursuing business diversification. Leveraging its expertise as a tanker owner-operator, Norstar Group is focusing on new transportation ventures related to supply chain decarbonization. Furthermore, the company is expanding into human resource placement services, utilizing its experience in deploying Myanmar seafarers, as part of its broader commitment to promoting ethical recruitment. In addition, Norstar was the driving force behind the “Adventure Race Japan” (ARJ) seafarer charity event held in Japan in 2023. We spoke with Norstar Group Co-owner Tom Bonehill about the company’s future outlook.
(Text by Hiro Yamamoto)
Photo courtesy= Norstar Group, Norstar ship management, ARJ, MTS,
■ Focus on Decarbonization
— It’s been noted that Norstar was founded in 1998 in the UK by Chris Bonehill, who was a shipbroker at the time. In 2002 the company made its first investments in vessel ownership. Later, you joined the company, and Norstar expanded its business into ship management and operations whilst continuing to expand its owned fleet. Could you give us an overview of your current business activities?
“As a family-run international business group, we focus on shipping, supply chain logistics, and recruitment. My brother Chris and I are both actively involved in all aspects of the company—Chris is based in Connecticut, while I am stationed in Singapore. We currently have five offices located in Singapore, Tokyo, Yangon, Dubai, and Connecticut, employing around 80 shore-based staff and managing a pool of approximately 1,800 seafarers. In terms of ship management, we provide comprehensive technical management for 17 tankers and crew management for around 35 bulk carriers. Our core activities include vessel investment, technical and commercial ship management, vessel chartering, and maritime recruitment.”
— In 2022, Norstar sold its owned vessels and began diversifying its business. What was the strategy behind this move?
“Four years ago, we started expanding our business into areas such as renewable energy, net-zero solutions, and recruitment. Our mission is to use business as a force for good and to make a positive impact through all our activities. Two years ago, we sold the last three tankers in our owned fleet, and we are now focusing on decarbonizing the supply chain, with shipping positioned as a midstream segment of this strategy.”
■ Recruitment
— Could you tell us more about your recruitment business?
“Our recruitment operations, initially focused on Myanmar—where the majority of our seafarers are from—has expanded to include recruitment for hospitality, healthcare, and skilled and semi-skilled labor positions. There is particularly strong demand from Japan, where many Myanmar nationals who are learning Japanese are keen to work. Other markets include Singapore and the Middle East. We see huge potential in Myanmar as a manpower source and have invested in building a great management team there over the last 15 years. Myanmar will be a major supply of seafarers to the maritime industry in the decades ahead as India and the Philippines move up their economic development curve meaning seafaring will not necessarily attract the top talent as a career as it did over the last 20 years. We see this today with the younger generation of Japanese and Koreans not choosing to go to sea which is the same with Singapore and British nationals.We will see Myanmar and other SE Asian countries become increasingly more important as maritime manpower sources going forward.
■Renewables and the shipping sector
Could you tell us about your future shipping strategy as ship owners/investors?
In the renewable energy sector, we are primarily involved in providing integrated sustainability solutions for the transportation, storage, and distribution of hydrogen, ammonia, sustainable aviation fuel (SAF), and green steel.”
“We have found that offtake agreements are the key to solving infrastructure investment challenges. While these agreements take time, initially, we see a pathway from lower-carbon fuels like blue ammonia and blue methanol to greener alternatives as technology and infrastructure advance. Government subsidies will also play a significant role in driving this transition.”
— I understand that the first vessels Norstar owned were chemical tankers, and you initially outsourced ship management. Later, you established your own ship management company in Singapore. What prompted the decision to expand from vessel ownership to management?
“In the mid-2000s, we were very active in contracting new-build tankers in China and South Korea. At that time, we outsourced new build supervision and ship management to a large ship management company. However, as the vessels started to be delivered from the shipyards, the quality was poor, and the ship management services were substandard. There was a lack of accountability, and the management company’s solution was to charge additional fees to fix the issues they themselves had created.”
“We realized that we were ultimately responsible to our bankers, co-investors, and charterers, so we decided to establish our own ship management company to strengthen quality and cost control. We do not support the large third-party management model, which we now see reaching its limitations. In recent years, we have had more owners approach us to take over management due to dissatisfaction with the lack of transparency and service in the market.”
■ Pursuing Comprehensive Ship Management
— Norstar provides a broad range of ship management and crew placement services for chemical tankers, product tankers, and dry bulk carriers. Ship management and manning are some of the most competitive sectors in the maritime industry. How does Norstar maintain its competitiveness in these areas?
“Norstar offers ship management from an owner’s perspective. We tailor our services to meet the specific needs of our clients, prioritizing cost transparency and quality. Unlike large ship management companies, we also cater to smaller ship owners with the same level of care and attention. Our clients always have direct access to senior management. In 2017, we established an office in Japan.”
“Our Japan office is headed by Ken Hasui, a long-time friend and colleague of almost 30 years. Ken is well-known within the Japanese shipping community, and we believe that having a local representative in Japan makes a significant difference. Mr. Hasui represents the entire Norstar Group. Meanwhile, our Myanmar office provides competitive crew placement services, leveraging 15 years of experience to ensure the supply of high-quality seafarers.”
— The maritime industry is seeing the development of new fuel engines using ammonia, methanol, LNG, and hydrogen. How is Norstar approaching the management and training of personnel for these new technologies?
“Norstar is actively participating in industry forums and working closely with the designers and manufacturers of these new engines. We are also engaging with our crews to raise awareness of these new fuels and position this transition as an opportunity to contribute to a greener future. Furthermore, we are collaborating with various training providers to customize training programs for these new fuels.”
— Under the EU Emissions Trading Scheme (EU-ETS), the Document of Compliance (DOC) holder, i.e., the ship management company, is directly responsible for paying carbon taxes. However, the appropriate process would be for the shipowner to bill the operator, who would then bill the cargo owner. Does the current EU-ETS requirement to bill the DOC holder directly pose any challenges?
“At Norstar, we have agreements with our clients in accordance with BIMCO’s EU ETS clauses. We provide them with emission data for their vessels, while the charterers or shipowners procure the necessary emission credits. This arrangement has not posed any issues for us.”
— Geopolitical risks, such as the recent crisis in the Red Sea, are increasing in the maritime industry. There has been a growing trend of ship management companies being held accountable in case of incidents, rather than operators or shipowners. Personally, I believe the responsibility should lie with the shipowner, but what is your view on ship management companies being held liable?
“At Norstar, safety is our utmost priority, and we regularly conduct risk assessments to ensure the safety of our crews and vessels. We work closely with shipowners and charterers to determine safe and efficient routes. As a ship manager, we are responsible for the safety of the vessel and the welfare of our crews. All our decisions are based on these critical responsibilities.”
■ Advocate for ARJ
— You are also the founder of the seafarer support charity event, Adventure Race Japan (ARJ). Could you tell us about the significance of holding ARJ?
“At Norstar, we place a strong emphasis on the welfare of our seafarers and firmly believe that they are the most crucial asset to any shipping company. Being the sons of a former ship captain, the well-being of seafarers is a very personal matter for us. One of the things we are most proud of is our role as founding members of Adventure Race Japan (ARJ).”
“About five years ago, I came up with the idea of hosting an adventure race to raise awareness and funds for seafarer welfare. I reached out to the Mission to Seafarers in London and proposed holding a two-day adventure race in Japan. We chose Japan because it is a beautiful country and a key maritime nation.”
— What are your thoughts and expectations for the second ARJ to be held in 2025?
“The inaugural race took place in May 2023 in Shuzenji, Izu, with 64 teams participating from around the world. We had significant participation from Japanese companies, including MOL, Shoei Kisen, ONE, APM Terminals, ABO Shoten, Kumiai Senpaku, Libera, and Swires, and we secured sponsorships from many prominent shipowners. We are also very grateful to our media partner, the Japan Maritime Daily (JMD). Last year, we managed to raise $1.3 million for seafarer welfare.”
“The next race will be held in May 2025 at the same location in Izu, and we plan to make this event every 2 years. Next year, we aim to increase the number of participating teams from 64 to 100. MOL has signed on as a platinum sponsor, and NYK Line has joined as a gold sponsor. The interest in the event is very high, and we expect to reach full capacity. We are already starting preparations for ARJ27 as well.”
I left the UK when I was 18 years old, initially as a volunteer teaching English in Jakarta, Indonesia. This was meant to be a gap year before University however I fell in love with Asia and decided to stay in the East. That was 31 years ago! After Indonesia, I worked on a general cargo ship for 1 year as a cadet spending time on the deck, engine room, and bridge to familiarize myself with the physical side of shipping and the seafarers. I was fortunate to get a job after my year onboard as an apprentice shipbroker with Clarksons Hong Kong between 1996 and 1997. At the end of 1997, I moved to Singapore with Island Shipbroker working as a sale and purchase broker. In 2005 I set up Norstar Shipping in Singapore with my brother Chris and we built the companies in the Group together from that point onwards.
〆インタビュー：ノルスターグループ共同創業者 トム・ボーンヒル
「海運と福祉を中核とした事業の多角化」
ノルスターグループは、シンガポールに本社を置き、石油化学製品を輸送するケミカルタンカーの運航、管理を専門とする。2022年には所有していた船舶を売却し、現在、事業の多角化を進める。同社はケミカルタンカーのオーナー兼オペレーター（運航船社）としての専門知識を活用し、サプライチェーンの脱炭素化に関連する新たな輸送事業を具体化することに注力していく方針だ。近年はさらに、ミャンマー人船員の配乗実績を活かし、ミャンマー人の倫理的な採用促進の一環として、船員以外の人材派遣サービス分野にも事業を拡大している。ノルスターグループは2023年に日本で初めて開催された船員向けチャリティーイベント「アドベンチャーレース・ジャパン（ARJ）」の発起人であると同時に大会の成功に非常に大きな貢献を果たした。ノルスターグループの共同創業者であるトム・ボーンヒル氏に、今後の展望について聞いた。（聞き手 山本裕史）
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