Howard Smith Limited
| Traded as | ASX: SMI |
|---|---|
| Founded | 1854 |
| Founder | William Howard Smith |
| Defunct | 2001 |
| Headquarters | George Street, Sydney, Australia |
| Revenue | $2.9 billion (June 2001) |
| Profit | $248 million (June 2001) |
| Website | www.howardsmith.com.au |
Howard Smith Limited was an Australian industrial company. Founded in 1854 as a shipping company, it later diversified into coal mining, steel production, stevedoring, travel, railway rolling stock building, sugar production and retail. Its divisions began to be sold off in the 1990s with the remainder taken over by Wesfarmers in August 2001.
On 7 July 1854 Captain William Howard Smith arrived in Melbourne from England as skipper of the 177 ton steamer Express in which he held a 50% share along with the ship's engineer, SB Skinner. On 3 October 1854, the Express began operating the first regular passenger service in Australia from Melbourne to Geelong. Smith sold his share in the business to Thomas Parker in 1861 and returned to England.
In May 1864, Howard returned to Australia with the 672 ton Kief, a former British Army water carrier and entered the interstate coal trade with a service from Melbourne to Sydney and Newcastle. In 1875, Howard recommenced operating passenger services. Services were extended to Townsville in 1883, Adelaide in 1885 and Fremantle in 1893.
In 1947 Howard Smith withdrew from the interstate passenger market. In 1961 the Melbourne Steamship Company was taken over. In 1968 Howard Smith withdrew from the interstate shipping market and concentrated on bulk shipping and the management of specilised ships for others.
In 1972 a takeover offer was made for RW Miller Holdings. Although not successful, Howard Smith gained a 35% shareholding. This was increased to 67% in 1979 when it acquired Ampol's shareholding and in February 1985 it took 100% ownership. In March 1989, Howard Smith purchased the Dilmun Navigation Co from Inchcape. Howard Smith withdrew from the shipping business in 1996 with the sale of its remaining two vessels.
Howard Smith was the largest operator of tugboats in Australia, operating both in its own right and in partnerships. It also had operations in Bougainville and Suva. In June 1987, a 75% share (100% from December 1989) in salvage and ocean towing business North British Marine Group of Hull. In 1993 the Alexandria Towing Group business, the largest in the United Kingdom, was purchased. In May 2001 the 90 vessel tugboat operation was sold to Adsteam Marine.
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