Josh Jambon built Jambon Maritime Service LLC from the ground up, starting it as a small supplier of support vessels to oil and gas companies in the Gulf of Mexico, into an International firm.
“We have offices on all continents and have the capabilities of providing any type of vessels for the oil and gas industry,” he says. “We have a JV with a major brokerage firm that facilitates us to have our vessels work around the globe.”
A JV, or joint venture, refers to a temporary partnership such as the joint venture the company entered into in 2003, when Jambon of Nigeria established a join venture in that West African nation. As he knows, companies form these temporary partnership to gain mutual benefits, which are realized in several ways. They may share costs, risks, and the rewards at the end of the day. Joint venture partnerships may speed up the expansion of a business that is getting into new markets by gaining access to specialized skills, or just by getting a foothold in that new market. One partner in the joint venture, for example, may have a strong presence in the market that the other partner is trying to get into.
The key objective in a joint venture is growth, which is typically sought by both of the partners. And as Josh Jambon knows, it must provide clear benefits to both of the partners, as in those partnerships that have gained Jambon Maritime Service entry into Nigeria, Ghana, and Brazil, among others.