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"Hayne will take a part in recovering honor of Korea’s shipping players"
Interview/Richard Jinho Yang, President & CEO, Hayne Shipping
Friday, September 06, 2013, 14:43:17 Paul Yoon
Kicks off business in two months from establishment, dismissing all rumors
Richard Jinho Yang has established Hayne Shipping Co., Ltd. (Hayne), a new shipping outfit, two months before as its president & ceo, having quit STX Pan Ocean (STX) of his 23 year service. Hardly had he opened Hayne than he suffered from ill rumors holding that Chong-Chul Lee, former vice chairman of STX or A Ship-broking firm, STX’s house broker, masterminded the establishment of Hayne. He revealed his inner struggle in no small measure as he was blamed for allegedly scouting STX’s key staffs and taking out its customers which would hamper STX’s rehabilitation.

Amid all kind of rumors from the outset, he has been kept so busy with opening Hayne and securing a ship that he could not find a breathing space to respond to criticism at home and abroad with Hayne being a new shipping player born shrouded in mystery. In two months from being established, Hayne has successfully acquired a handy bulker of 28,000dwt with its paid-in capital of U$5 million, which is minimum requirement to move into ocean-going tramping service under the government license. So the mystery of Hayne’s successfully launching is deepened.

Richard Jinho Yang, president & ceo of Hayne, who is now posed to open shipping business in full scale in two months from its establishment, told MaritimePress in an interview in details about the rumors related with Hayne, about its future business plan and its objective. All the rumors on mastermind of Chong-Chul Lee, ex-vice chairman of STX, on the involvement of A Ship-Broking House, and on investment made by regional enterprises in Singapore and Australia are not true at all, and no one rumored here has participated in investment into Haynes, president Yang said.

Referring to worries about Hayne’s recruit of STX’s key staffs and its take-out of STX’s customers standing in the way of STX’s rehabilitation, president Yang dismissed them, saying, “We have not taken out one single case of charter contract from STX and Hayne is manned merely with its 17 employees compared with about STX’s 500 ones, so the argument that Hayne’s small pick of STX’s staffs hinders STX’s rehabilitation is illogical.”

Apart from its president, auditor and administration staffs, Hayne is composed of 12 capable staffs experienced over the years with global bulker tramping trade and operation divided into three teams i.e. Pacific Team, Atlantic Team, and Asia Team, covering all type of bulkers ranging from handy to kamsarmax in three basins of the Pacific, the Indian and the Atlantic across the world.

President Robert Jinho Yang said: “Hayne has a lot of staffs for a new shipping player, but with this size of manpower, it is capable of operating a fleet of more than 50 vessels including owned and chartered-in. As soon as we obtain an ocean-going shipping license from the Ministry of Oceans and Fisheries (MOF), we will pay every effort to securing tonnage and employment.”

Hayne has already filed with MOF a license for sea-transport of long-haul cargoes. Pending the receipt of the shipping license, it has already commenced business with FFA deals, making small profits. President Yang put a particular emphasis on Hayne’s strongest point of competitive edges that come from his staffs’ capability of market analysis and of responding to the market fluctuation. The FFA deals are made possible thanks to such capabilities on the part of his staffs, he said.

Concerning Hayne’s long-term objective in future, president Yang went on to say: “We aim to build up the company sustainable for 100 years ahead. Since some of Korean shipping players have collapsed overstretched focusing on their rapid growth due to excessive risk-taking, we will be happy to lay a solid cornerstone for Hayne to sustain for 100 years ahead without taking any excessive risks. This is a role for me to play as the first ceo of Hayne, I feel.”
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