Fairfield-Maxwell Ltd. (FML) is returning to the shipping industry in Japan and opening a new office in Tokyo aimed at participating in ship construction, ownership, investment and leasing.
The new company will focus on being the tonnage provider of choice and offering a diverse range of vessel types, including chemical tankers, medium range (MR) tankers, gas carriers and newbuilds.
The new company – to be named Fairfield Maritime Japan Ltd. – will be a part of a newly formed Fairfield Maritime Group. The business will build on the significant 65-plus year legacy in the shipping industry which began in 1957 when Keiichi “Kay” Sugahara founded Fairfield-Maxwell and began brokering maritime crude oil shipments to Japan.
Fairfield-Maxwell expanded into other maritime-related activities, including building, selling, and leasing tankers and cargo ships in 1960. Since the 1960s, the Sugaharas have maintained ship and crew management services for shipowners globally.
This new business launch comes approximately two years after FML’s divestiture of subsidiary Fairfield Chemical Carriers to MOL Chemical Tankers. Fairfield Chemical Carriers was a leading operator of stainless steel chemical tankers worldwide, owning and operating a fleet of approximately 40 tankers at its peak.
“With this reemergence, Fairfield Maritime Japan will build upon the Fairfield / Sugahara tradition of excellence in shipping,” said Byron M. Sugahara, chairman of the board of Fairfield-Maxwell. “We will maintain our commitment to superior service for shippers and to providing a diverse array of state-of-the-art vessels.”
Fairfield Maritime Japan will leverage a new, yet highly experienced, leadership team including Ryuichi Osonoe as president and Mitsuhiro Okamoto as vice president, chief financial officer.
Osonoe-san is a 40-year veteran executive formerly with IINO Kaiun Kaisha, Ltd. (IINO Lines) where throughout his career, he rose through the ranks of increasingly responsible positions. He held business management posts in Japan, Singapore, and the United States. He was most recently Director, Senior Managing Executive Officer until 2024 when he reached IINO Lines’ mandatory retirement age. He holds a degree from Tokyo University of Mercantile Marine.
Okamoto-san previously spent approximately 13 years in finance roles with Fairfield Japan Ltd., which was acquired by MOL Chemical Tankers as part of the Fairfield Chemical Carriers divestiture. Following the acquisition, he led post-merger integration until the company’s dissolution, at which point he stepped down. Most recently, he was director, general manager of finance and accounting.
Prior to joining Fairfield Japan, he worked in the finance sector, focusing on fund management and securitization, including roles at Tokyo Kyodo Accounting Office and others. He also held earlier positions at Mitsui O.S.K. Lines, Ltd. He is a Certified Public Accountant (Washington State, U.S.A.) and has a degree from Hitotsubashi University.
“Osonoe-san and Okamoto-san are experienced executives with strong backgrounds, track records of successful performance and reputations for ethics,” said Anthony Dowd, CEO of Fairfield-Maxwell. “With the expertise of this new management team, we will be able to kick start our return to the Japanese shipping industry.”
“I am proud and excited to join the Fairfield team,” said Osonoe-san. “Together with Okamoto-san, we will be building back the Fairfield presence based on its heritage and reputation for excellence.”
Fairfield Maritime Japan Ltd. will be a KK (Kabushiki Kaisha) corporation, and will join existing FML subsidiary Fairfield Maritime Holdings, registered in the Marshall Islands, as part of the Fairfield Maritime Group.