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Tuesday, October 23, 2018

"Tanker Shipping Today" presentation to IMarEST and RINA

INTERTANKO's Managing Director Dr Peter Swift spoke this week on today’s tanker business to the IMarEST/RINA joint branch on the Isle of Man. His presentation (click here to view) covered an introduction to INTERTANKO, oil shipping, the performance record of the industry and the key issues faced by tanker owners today.


While tanker shipping continues to deliver ever-improving performance, he said that the tanker industry is definitely not complacent and is wedded to maintaining its aims to develop and adopt best practices in shipping through its commitment to continuous improvement.


He said that against a backdrop of reduced demand for most ship types coming at a time of rapid growth in fleet supply, and consequentially lowered freight rates, the challenges for tanker owners today are particularly pressing. Additionally, the developing surplus in world shipbuilding capacity, besides being a headache for shipbuilders and creating its own problems, also contributes to the present and longer-term uncertainties for ship owners and their bankers.


Swift continued that as an international industry, tanker owners seek consistency in international regulations and standards, with global governance for a global industry, while providing safe, secure, reliable, cost effective and environmentally sound maritime transportation.


The environmental challenges are themselves wide ranging from managing toxic air and GHG emissions to biofouling, waste management and recycling, and also embracing emerging issues such as the avoidance of whale strikes and the minimisation of radiated noise.


He added that the already challenging quantity and quality issues associated with the future manning of ships are frequently compounded by the failure to accord fair treatment principles to ships' crews, and by the growing tendency to unjustifiably criminalise seafarers after marine accidents.


In his concluding remarks, Swift suggested that the maritime industries also collectively suffer from their failure to develop appropriate mechanisms for incident reporting, accident investigations and information sharing. While feedback and lesson-learning procedures are still generally relatively weak, the shipping community is nevertheless becoming more aware of the value of cooperation and partnership as necessary processes to deliver on their continuous improvement programmes.


Contact: Peter Swift