Anew breed of super-managers is making inroads into territory that has been traditionally the preserve of shipowners. Recently, Pronav Ship Management and Anglo Eastern Group, acting in syndicate with several shipowners, won 25-year Qatari charters for eight Suezmax-equivalent gas carriers. "[The deal] came as a rude shock to traditional owners. They were simply not prepared to be undercut by the con-sortia, which were able to bid very low on the back of balance sheet and investment fund financing," Fairplay wrote back in March 2005.
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