GLOBTIK RAVI TIKKOO: PORTRAIT OF A TYCOON OF TANKERS

Press, Volume CXIII, Issue 33418, 27 December 1973, Page 8

GLOBTIK RAVI TIKKOO: PORTRAIT OF A TYCOON OF TANKERS

1 Bu

TIMERI MURARI

in the "Guardian.")

i Reprinted bp arrangement) The names on the highly polished brass plaques beside the entrance to the elegant house on Park Lane are repetitious. They all begin with that financial magic title that sounds like an incantation to success - Globtik. Attached to each Globtik are those anonymous words with which modern day businesses love to baffle you. Globtik I ankers. Globtik Shipping. Globtik Holdings . . . Globtik . . . London . . . Bahamas . . Tokyo. They reveal nothing beyond the surface existence ot a possible economic empire.'

By chance, cutting out the maze of press officers, receptionists. secretaries, the building commissionaire leads you straight to Globnk himself. Ravi Tikoo. There is a certain harmony between the man and his surrounding'. which came first would be difficult to guess. Like his office, a wood-panelled room, he’s calm and elegant. He wears a tycoon uniform of discreet pin stripes and a [small Cartierish gold watch. Only his bushy grey sideburns seem out of place. It would be difficult to imagine the man in a shimmering glass and concrete skyscraper. “1 am a very calm man,” Tikkoo says as he moves from behind the large desk to the conference table overlooking Hyde Park, “i never panic under any conditions. It has nothing to do with my Indian upbringing, nor do I practise yoga. It is just a part of niy personality, and I’ve always been like this. If in the middle of dinner I get bad news, I wait until we finish and ■ then attend to business. It’s no good upsetting the family and it's only by being very .calm that I can work problems out in depth." Business world baffled Tikkoo’s ability to work out problems "in depth” has left the City, financial ; writers and others in the money business quite baffled. He’s the only man they know’ of who sold a mathematical formula to a bank, and in return received enough finance to build five of the world’s largest oil tankers. In a brief five-and-ja-half years, he nas attained almost mythical proportions which he has encouraged by never revealing the formula or the name of the bank ‘who handed him the money. “The formula is both complex and logical.” Tikkoo says. “1 am a very logical [man and I believe 1 can think deeper and more logi-

cally than anv other man in [the world. The mathematics [involved isn’t simple like. . . ; one tanker costs $9 millions.; [rented out for $lO millions, 'profit $1 million. Banks] want, very much more than that before they lend you money. My formula works : out every detail. Daily running costs, salaries. . . everything. Banks don t care who you are or w’hat you are or what you do. They! will lend you money if you're successful. Not for; just one year but a period of [time." : One financial newspaper did make a stab at explain-; ing his formula but ended' up printing an apology as it; [had its facts all wrong. Like; some medieval alchemist! ;Tikkoo discusses the for[mula, but always dangles ff; ‘temptingly out of reach. “1 didn’t foresee the; [present oil crisis as it hap-j ipened,” he says. "But the; formula did cover any even-1 duality that may have arisen.] I I’m not affected by anything ’that happens in the oil industry. Yes, Saudi Arabia ‘can blow up its oil fields,, the oil companies who rent! my tankers can order me to! tie them ail up. 1 can let; them rust from now on and! I’d still be unaffected. Yes,! 'only if the world blows up or the earth’s orbit is affect-, ed and we move to the sun; [and burn up or out into! .space and freeze to death [will my formula fail. It will [make no'difference then because we’ll all be dead.” Tikikoo makes one feel slightly [inadequate. Everyone should [have some formula that you can show the bank. From! [the bank you go to an oil| [company who contract to[ [rent a non-existent oil tank-; [er, then to Japan where you; build the tanker on the [strength of the company’s[ contract. I Direct shipments The British Government’s [appeal to the oil companies! ■to give England its fair! [share of oil falls on deaf tears, Tikkoo explains. Oil companies are international] :and too powerful to listen to! one Government. They deal! as equals with a hundred! Governments and even if a British oil firm did want to; give Britain more oil, it knows its dealings with an-1 ■ other Government, like the ‘Netherlands, and could be' affected. [“There is no way in which; Britain can influence the oil ■ companies,” Tikkoo says.l [“As far as I can see the best ■method to overcome the) ’problem is for the Govern-; ment to ship in its own oil [from Saudi Arabia and Ni-j [geria. This bypasses the oil! ! companies. I’d be happy toi put my ships at the Govern-) [ment’s disposal. I guaranteel ;to ship 20 million tons a) [year to England. I believe! [one should try and help s [one’s country as much as! [possible. Negotiating with: [Arabs on oil is going to be; ;very complex because of the; [politics involved, I would! take the Arabs very seriousfly.” I There’s nothing of the HoI ratio Alger in Ravi Tikkoo. He was born into a wealthy: land-owning family in the [princely state of Mandi,’ [Kashmir. His father was the! (finance minister to the! Rajah of Mandi until 1947.’ when the fortunes of many princes were affected by In-, dian independence. Tikkoo! moved away from Kashmiri at 15. He studied mathemat-| ics in Punjab university and: on leaving joined the Indian; navy on a short seven year commission, ending as a lieutenant. On completing; his navy stint, he entered; ship financing and II years) ago moved to Europe. “Just because a man studies mathematics doesn’t mean that he will be able to think up a formula like I mine. It’s totally illogical,” ITikkoo adds. He’s a man I who adores logic. Every sentence of his has to reach its logical conclusion, even if [you interrupt half way. Other people would leave amputated sentences trailing behind them into eternity. Tikkoo can never be accused of not finishing anything. “How many people do you think study mathematics in the world. If every one of them could think out this ■ formula, there would be ’ countless • ship owners. Right?” Small capital You have to agree with this to begin to understand how this man, with a $lOO capital, became the owner of vast tankers. During the meeting, he hands you two ; glossy brochures, printed in j Japanese and English. They [are filled with statistics : [about his tankers. The rud- • !der is large enough to park * 47 small cars, the total height of each ship is equal : to a 23 storey building, the 3 deck area can accommodate two football fields or 79 ’tennis courts and ... so much paint, so many rivets. [[’The figures are endless and T impressive. “The reason I’ve succeed1 ed,” Tikkoo says, “is because f apply myself totally to whatever I’m involved in. 8 I have the energy and the - idea to expand my company.” He waves a hand dis2 missively. “Oh yes. there are . shipowning families in Eu’■rope but they are two 01

three generations old and they are quite content, with' their small tankers. Five thousand tons, ten thousand tons. It isn’t important how (many ships you own. it s the total tonnage that counts. I can ship 1.164.784 tons of oil in my five tankers.” His tankers don’t ply between the Arab oil fields and Europe. And they could never come to England be‘cause there are no port fa cilities. The main routes for his ships are between Japan and the Gulf. Though the tankers are leased to oil companies, Tikkoo is still [responsible for all 230 British crew and the ships’ I maintenance. “The most im'portant factor in shipping is instant communications. I have to keep in touch with my tankers constantly and 1 work 24 hours a day. 1 love ;my work.” His wife and two [sons who live in his 'Hampstead home are. one gathers, allowed visiting [privileges to the office. Brash, self-confident Tikkoo is a brash, conI fident man. He believes [totally in himself and in his [mental ability to conquer [any problem. All his power ‘is concentrated in his mind ■and with this mind, disciplined and controlled, he [believes he can achieve anything he wishes. 1 “1 would like to spend more time with my family but there’s no time.” he says. “My wife understands. I don’t socialise at all and I have no friends. Okay, you say I I should have relationships [with people. How many [people? There are three bill [ion people in the world and I [can’t know them all can I. I ican gel to know 100 people What kind of relationship can [I have with them apart from [Hello . . . how are you . . . . II don’t socialise because I don’t need to. 1 have no need [to be seen at parties with [such-and-such a famous person and tell everyone ‘Oh I [know this person, 1 met that [person, Mr Onassis is an [older man and that is the way [he prefers to live. I think [there’s something lacking in a [person if he has to be seen in [some night club or at a partv flirting with some famous lady or has to marry a famous ilady.” i Yet, there are hopeful ’.signs. He threw a party on a !yacht and never attended it; he gave away the equivalent [of a Gillette Cup award money to the Indian test [cricketers for winning in England. In his office is a I lineup of cricket bats with the !autographs of test teams on [the blades. On the way out [you mention the coming ‘Guardian cricket !X1 tour of [lndia and Tikkoo says; “Ex [plain.” He listens carefully: ! “That’s a good idea” he says. | “I may send out my own team [the Tikkoo XI, like D. N. Pearce’s XL Naturally my ‘team will be first class. That's [the only way I do things. ’ iThat’s more like the way a (tycoon should be.