Diversification pays off as volumes double

There is no doubt that the tough times are upon us all, according to Robert Poverello, director of Aquarius Shipping International, but he is satisfied that his company has been able to buck the trend. “Aquarius Shipping has doubled its volumes over the past year, and business has been good even though we are experiencing one of the toughest economic periods of our time,” Poverello told FTW. “We have also got involved in the movement of tobacco from Mozambique for the first time and this will increase volumes substantially.” The company has also been encouraged to diversify its cargo mix. “We have primarily concentrated on tobacco over the past 10 years,” said Poverello. “But we have been approached from various other sectors over the past 18 months – and have already put measures in place to start moving various other agricultural, mineral and general products from this year.” Looking at interest from particular sectors, Poverello pointed to the cotton and sugar sectors. “They have been in contact with us,” he said, “and we will begin to move their product over the next few months.” Poverello is also alert to the murky waters surrounding the global trade industry at the moment. “But,” he said, “we have been very fortunate and managed to keep the damage to a minimum. He is however under no illusions. “We will keep a very careful watch on how the economy progresses over the next six months,” he said, “although we do believe that, during the early part of next year, the economy will begin to pick up.” The major challenges facing the industry at the moment all stem from the economic crisis. But we are equipped to deal with the worst of it,” Poverello said, “and will certainly come out stronger at the end of it.” He believes the next eight months will be his company’s busiest period. “We are looking forward to a bumper year,” he said, “given the fact that the Malawi tobacco crop is well in excess of the 200-million kilogram (200 000-tonnes) mark.”