Sea Term 2009: Captain's Blog

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February 2009 S M T W Th F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Jan 2009

Tuesday 24 February

Today ends our coverage of Sea Term 2009. Captain Bushy, Cadet Beuth, and several other contributers have kept us informed about and engaged with the life, experiences, travails, and successes on board TS Kennedy. They are taking a well-deserved break so they will be prepared for the spring term, starting in less than a week.

Our final posts today come from two more International Maritime Business cadets who are 'embarked' on their winter co-operative experiences. They remind us of the many opportunities afforded our cadets during the winter term.

Liberian International Ship and Corporate Registry
by Cadet 2/C Kevin Moynihan

As a third year International Maritime Business student I am currently working at the Liberian International Ship and Corporate Registry(LICSR) located in Vienna, VA. LISCR is the second largest registry in the world with close to 3,000 ships. LISCR prides itself, however, on the fact that they are recognized at the top of every industry "white-list" for quality and safety. These lists include the International Maritime Organization and the major Port State Control authorities such as the US Coast Guard and the Paris and Tokyo MOU regimes.

While working for the registry I have had many different tasks. Currently I am in charge of issuing LRIT (long range identification and tracking) certificates. This means that I correspond with the different companies, receive their information, create the certificates and then ship them out. I have also been working with the security department reviewing detention lists and creating reports on various topics. In the safety department I have issued various certificates and reviewed safety inspections.

When I was first approached to write about how sea term had helped me with my internship I was not sure what I would write. When I began working at LISCR, however, I instantly realized why sea term is a requirement for IMB students. My time on USTS Kennedy was an excellent learning experience that has really helped during my internship. Almost all of the managers at LISCR hold their captain's license, have graduated from rival maritime schools or have had long careers in the US Coast Guard. It has helped out a great deal knowing what they are talking about without constantly asking questions like most normal business students would. These managers were also surprised to learn that International Maritime Business was a major at Massachusetts Maritime. After hearing about the curriculum they quickly agreed that it is an excellent major.

Interned at Rockland Trust
by Cadet 3/C Michael Doran

This winter, I am interning for Rockland Trust - a small, regional bank based in southeastern Massachusetts. With the current state of the economy, there has never been a better time to work in the field of investment management. Part of the Investment Management Group has begun to dedicate their time to nonprofit organizations based in their footprint which includes Plymouth, Barnstable, Bristol and Providence counties. I compiled a database which now includes over 500 nonprofit organizations and lists their assets, investments, and estimates their remaining investable assets. Upon the completion of that database, I constructed a composite which will take into account the most successful municipal bond accounts. Using a variety of programs that I learned both at Massachusetts Maritime and Rockland Trust, I was able to research and compile the composite based off of the company's most profitable municipal bond account. A municipal bond is a bond issued by a city, state or government agency which accumulates interest, is exempt from taxes and allows the provider to borrow money to fund projects which they may not want to fund at the present time with their own funds. Also, I am working with the Chief Investment Officer, Research Director, and Portfolio Manager to search for, interview, and eventually hire a new mid-cap manager. A mid-cap is a company whose market capitalization, or the number of outstanding stocks multiplied by their price, is between $2 and $10 billion. In the meantime, I created an asset allocation model taking into account all of the bank's variety of holdings, their costs, estimated returns, volatility, and utility. For any given risk of the investor, the program correctly allocates their assets to either minimize risk resulting in a small, but reliable return or increasing risk to allow for a much larger potential profit. Also, I am in the process of completing a database of the Russell 1000 index. This database will store nearly all of the information regarding the companies in the index as well as the percent of Rockland Trust's portfolio which they occupy. Though Massachusetts Maritime is not known for its training in Investment Management, the incomparable traits that the Academy has instilled me with have allowed a seamless transition to Rockland Trust.

I came to Massachusetts Maritime planning to dual-major in International Maritime Business and Marine Engineering but I was so impressed with the program put together by Dr. Bani Ghosh, Dr. Ani Dasgupta and the rest of the IMBU staff that I decided to put my focus there. I cannot describe how happy I am with my choice. Many people are initially surprised to hear that Massachusetts Maritime offers a business major but certainly are impressed when they hear the accomplishments of past IMBU graduates and current IMBU students.

In talking with the members of the Investment Management Group, they have been very impressed with my ability to work on my own without the need for someone to hold my hand through every step of a process. Though I believe that I came to Massachusetts Maritime Academy with that ability, the Academy certainly reinforced it. The regiment is like a support net that will catch you if you fall, but you are expected to complete things correctly and on your own. My time at the Academy, especially the time aboard T.S. Kennedy, taught me to work together with my peers and to appreciate everyone's input which is certainly applicable to my present internship. Decisions at the bank are not made by an individual; rather, decisions are made primarily at bi-weekly meetings of the Investment Management Group during which information regarding a certain company or fund is presented and the group will decide whether to pursue it, keep an eye on it or avoid it altogether. Each person's input is valued the exact same as another's. Even as the intern, I have been asked to weigh in on heavy debates and it has been made clear that my opinion is not just 'tolerated' but is listened to carefully and is respected just as much as anybody else's opinion.

I still have not made my final decision about what field I hope to enter upon graduation, but this internship has definitely begun to sway me towards some sort of investing. I have gotten to experience many different aspects of Investment Management and was not simply told to sit in a cubicle all day while everyone else got to do the "real" work. I have collaborated with many of the Portfolio Managers on their projects and they have all been more than willing to explain the business to me. Very frequently someone who is working on a project that I am not associated with will come by my office and will show me what they have been working on, how it will affect the company and will often offer a copy of the final project for me to keep. Massachusetts Maritime prepared me very well for this internship and I am very appreciative of everything that the Academy and Rockland Trust have taught me.

LINKS:
Official MMA Photography

Christiaan Conover Blog Page
Buzzards Bay Weather
MMA Parents Association

Departure Photos
Cape Cod Times Online Departure Photos
217 Photos of TS Kennedy's Arrival in Tampa

Should you have an emergency and need to contact someone at MMA regarding your cadet or a crew member, please contact Commander Stephen Kelleher:
Commander Stephen Kelleher
508-830-6485 (daytime)
508-364-6217 (Evenings/Weekends)
seaterm@maritime.edu

If Commander Kelleher is not available, you may contact me at any time:
Captain Allen Hansen
508-269-0925
ahansen@maritime.edu

Parting Shots...
Sea Term 2009 Reprise in Photos

Sunday At-Sea

...And Some Work, Too!

Good-Bye!