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Commercial and Markets Committee
“Our focus has been on disruptive near-term events brought on by the Covid-19 pandemic, the security situation in West Africa and longer-term commercial implications of carbon reduction initiatives. Creating transparency on industry payment performance remains a key priority for the Committee, which we are addressing through our proprietary benchmarking tool PPS (Payment Performance System)."
Gernot Ruppelt, Chairman
Main Aims
- To address and offer advice on commercial challenges faced by Members
- To address the issue of Freight & Demurrage Payment Delays by leveraging the data in INTERTANKO’s Payment Performance System
- To assess the commercial overlay of Members’ operational challenges and to review the effect of market distorting factors and industry developments.
- To represent Members’ interests from a commercial standpoint in policy making and strategic industry dialogues.
- To promote ethical practice and strive for commercial sustainability and transparency in the tanker industry.
Contact
Dimitris Dimopoulos
Commercial Manager & Area Manager Greece and Cyprus
e: dimitris.dimopoulos@intertanko.com
t: +30 210 373 1772
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Main Issues
- Industry Payment Delays
- Study and Review of Market Distorting Factors and Industry Developments
- Sustainability Reporting Initiatives of private or regulatory origin
- Review of C/P Terms Clauses and Commercial Tools
- Worldscale Flat Rates’ Inconsistencies
What is the Committee looking to achieve this year?
- Continue its work on raising awareness around the issue of Freight & Demurrage Payment delays and organise an industry-wide event to address same in a high level dialogue with all involved stakeholders.
- Promote the use of INTERTANKO’s Payment Performance System (PPS) and leverage its data
- Work closely with Members and other INTERTANKO Committees to offer advice, develop guidance and address issues of common concern and interest.
- Further enhance the open dialogue with the Worldscale Association through the committee’s Worldscale Focus Group to ensure the scale remains a useful, practicable chartering tool that follows industry developments..
Chairman: Gernot Ruppelt – Ardmore Shipping Services
Secretary: Dimitris Dimopoulos
Committee News
ASBATANKVOY Review: Industry consultation draft – Your input needed
Further to INTERTANKO’s Commercial & Documentary Circular distributed this week, Members are advised of the ongoing industry consultation from BIMCO... MORE
Worldscale EU ETS consultation – last chance to submit your comments
An ongoing consultation has been launched by the Worldscale Association towards its subscribers proposing the presentation of an EU Allowance... MORE
Commercial & Markets Committee meets online
INTERTANKO’s Commercial & Markets Committee met online on Tuesday 23 November 2021 under the Chairmanship of Gernot Ruppelt of Ardmore... MORE
Commercial & Markets Committee meets online
INTERTANKO’s Commercial & Markets Committee met virtually on Thursday 8 October 2020. The online meeting was chaired by Mr. Gernot... MORE
INTERTANKO’s Commercial Team – on hand and at your disposal
Historically, INTERTANKO’s main focus has been on technical, operational and regulatory issues and while that is still the case to... MORE
Committee Resources
Related Topics/Issues
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Terms of Reference
Terms of Reference
Commercial and Markets Committee
Download the draft Commercial and Markets Committee Terms of Reference (Approval Pending)
Members
Sea Pioneer Shipping Corp
Mr. Martin Baldock
Scorpio UK Limited
Mr. Theodore Belexis
Product Shipping & Trading SA
Mr. Flemming Carlsen
d'Amico Shipping UK (London)
Mr. Theodore (Theo) Kalkanteras
Olympic Shipping & Management SA
Ms. Metaxia Psalti
Neda Maritime Agency Company Ltd
Mr. Nic Reardon Smith
d'Amico Shipping UK (London)
Mr. Gernot Ruppelt
Ardmore Shipping Services (Ireland) Limited
Mr. Mikkel Seidelin
Teekay Shipping (UK) Limited