Page 69 - Next Generation 2015 - Digtial Issue

Next Generation Americas and ROW

Despite becoming the third generation to lead
the company, Fednav’s co-chief executive says
he and his brother were never pushed to join

Canada
Mark Pathy

AMERICAS MARK Pathy trod a familiar, next-
AND ROW generation path before joining the
privately-held, family-owned Canadian
shipping business. Since 2010, some 15 new ships have
been built and delivered to Fednav,
He spent his 20s gaining experience mostly handysize bulk carriers. A
working elsewhere (Toronto), finished further 12 are scheduled for delivery this
an MBA (in France), then started at the year and next.
family firm in Montreal in 1999 to be
groomed for the top job. The international arm of the
company operates about 100 ships
In 2008, he became president and at any one time and transports about
chief executive of Fednav International 25m tonnes annually, with fleet data
Ltd, Canada’s largest international suggesting that about 35 of the vessels
shipping company and the dominant on the water are currently owned by
shipper of cargo through the St Fednav.
Lawrence Seaway.
About 40% of all Seaway business
In 2010, he was appointed co-chief is shipped on vessels they control,
executive alongside brother Paul of mostly dry bulk and break-bulk cargo,
Fednav Ltd, which also manages the and the company’s Arctic links via
Great Lakes part of the business that services to northern Canada mean
comprises about 30% of volumes. Fednav also has the world’s largest fleet
of ice-class ships.
It’s been a tumultuous time for
Fednav, with traffic dropping to five-
decade lows on the Seaway and Great
Lakes in 2009.

Since taking the helm at the
company, Mr Pathy has managed one
of the biggest shipping downcycles
in 30 years, and he’s made some big
decisions.

Under his management, he’s
overseen a structural shift from
chartered-in to owned tonnage,
resulting in the company’s biggest
newbuilding programme, which has
easily surpassed $1bn in investment in
new tonnage.

The Pathy family began Fednav
in 1944 but despite becoming the third
generation to lead the company, Mark
has said he and his brother were never
pushed to join. His father, Laurence,
was the former president, who in turn
replaced his uncle, Ernest.

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