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Saturday, October 20, 2018

WILL THE TANKER MARKET FRACTURE WITH THE ONSET OF THE "E-COM"?

In response to our article in Weekly NEWS No. 42/2000 on “sealogistics.com”, one of our associate members has expressed the view that with the onset of e-commerce, there is a definite need for a forum to exchange ideas of mutual concern.

He believed that INTERTANKO should in the future increasingly strive to provide such a forum through the exchange of ideas at INTERTANKO’s Tanker Events which attract a diverse group of industry people. He also said that the brokerage community would like to be part of this exchange being deeply involved in the future development of the industry. He believed that INTERTANKO has the opportunity to lead the industry, including the brokerage community, into the new millennium. By being proactive and taking the lead, INTERTANKO could contribute to ensuring that the industry would develop for the better and not just for the sake of change which serve no purpose.  He concluded by saying that INTERTANKO is in an excellent position to "level the playing field" in the market.  This will be an easier task if it is influenced equally from all sides.

Michael Marco of McQuilling Brokerage Partners commented on e-commerce in OceanConnect.com: “In this horse race the betting windows will remain open until the last furlong .... the advantage definitely goes to you by waiting until seeing who comes first around the last turn and not who is first out of the gate.”

Talking to people about e-commerce and internet chartering, INTERTANKO begins to question whether the whole concept is a white elephant.  As far as we are aware, no tanker fixtures have yet been done on the WWW.  People do not seem to believe that traders will ever place their cargoes on the WWW.  The large oil companies are also some of the largest traders.  Owners with large fleets never seem to reveal all their tankers in position for a cargo, and it is questioned why should they do this on the WWW.  In addition, the market is made up of a great deal of informal communication that gives chartering people the gut feeling about the rate level.  It is questionable as to how this aspect be communicated through the WWW?

We encourage our membership to give us their comments on this issue: mailto:erik.ranheim@intertanko.comor mailto:gunnar.knudsen@intertanko.com