TMT (Today Makes Tomorrow)

TMT (Today Makes Tomorrow) Group is a Taiwanese shipping company that directly owns more than 60 ships[1] including dry bulk, crude, cargo, LNG, automobile, and cement carriers.

History

Taiwan Maritime Transport Co.

TMT Co. Ltd was founded as the Taiwan Maritime Transport Co. Ltd in 1958. The company began by operating in the banana export business. The company’s first boat was named Taiwan Banana in Chinese. It expanded over the years into different sectors and, at one point, had 10% of the world's wood chip carrier capacity.[1]

Change of ownership

Mr Nobu Su is TMT’s current owner and CEO.[2] He took over after his father, Ching Wun Su, who founded the company, died in 2002. Over the years that followed TMT expanded rapidly, with ten new dry bulk carriers, roll-on roll-off ships for automobile freight, crude petroleum supertankers, very large bulk carriers (VLBC) and a Liquefied Natural Gas (LNG) carrier. At one point, the company operated more than 130 ships.[3]

In 2007 the company was rebranded and its acronym changed to Today Makes Tomorrow in 2007.[4]

Futures market

TMT Group has invested significant resources in the Forwarding Freights Agreements (FFA) market.[1] It entered the market in 2004 and at one point was reported as being responsible for almost 30% of the global trade in FFA.[5]

Ships

TMT group operates the "Whale" crude supertankers, part of a series of sister tankers named A Whale, B Whale, and so on until H Whale. TMT's ships are registered separately in Monrovia and sail under a Liberian flag.[5]

Recent contracts

TMT signed a contract with Chevron in September 2013 for one of its largest carriers, C Elephants, to carry crude petroleum.[5]

See also

References

  1. 1 2 3 "Taiwan's Mr Controversy runs a tight and very private ship at TMT". Financial Times.
  2. ↑ "TMT on Crunchbase".
  3. ↑ Asia Shipping Media Pte Ltd. "ISSUU - Maritime CEO Issue Three 2014 by Asia Shipping Media Pte Ltd". Issuu.
  4. ↑ "Shipping company TMT Group files for bankruptcy". Reuters.
  5. 1 2 3 "SinoShip News - Good week for Nobu Su". sinoshipnews.com.
This article is issued from Wikipedia - version of the 1/28/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.