"Once again the tanker sector has shown itself to be a complex and interesting industry that is facing a number of challenges, with the very real prospect of reward as the market sentiment improves and the green chutes of recovery are seen," commented Chris Hayman, Chairman of Seatrade Communications. "The strength of support for the event from the local maritime cluster in Copenhagen and from international attendees highlights the sector's willingness to face its challenges with open, vibrant discussion and also the significance of this event in the industry's calendar"
The conference opened with a keynote address from Katharina Stanzel, Managing Director, Intertanko, where she highlighted the association's commitment to improving the sustainability of the tanker industry through the adoption of a business code of conduct that sets best practices for vessel owners and charterers alike.
The morning sessions focused on commercial issues in the tanker industry, covering the state of the market as a whole as well as the ever-present issue of ship finance. Presentations revealed the underlying fundamentals of the industry and the crucial role charterer-owner relationships play in the market, as well as specific details of the product and gas sectors.
According to Braemar Seascope's Research Director, Mark Williams, the tanker spot market is currently broken and rebuilding relationships between charterers and shipowners is key to a sustainable market recovery.
"In my opinion the spot market is broken," Williams continued. "Since the early 1980s... shipowners have been paid to bear the risk of moving the [oil and products] cargo. "Over the past four years or so, owners have not been paid to bear that risk. The spot market is not working. If we want a sustainable long term recovery in the tanker markets then we have to rebuild the relationship with the charterers, because at the moment the charterers do not want to see the owners and the owners are not feeling well inclined towards charterers."
The afternoon sessions looked at the environmental regulation facing the tanker market. Starting with ballast water treatment, the state of the US type approval process was discussed along with the key differences between it and the IMO type approval process, an independent laboratory and equipment manufacturer also gave their views on the developments around the ballast water management convention. The session armed owners with the right questions to ask ballast water management system suppliers, with the key message that owners should look to reputable suppliers who can support them through the acquisition, installation and running of a system, including crew training.
In the emissions and efficiency session, recently developed technologies for increasing efficiency were presented, along with possible changes to charter agreements to improve access to funding for retrofits and the hardware and software-based solutions for increasing fuel efficiency.
The conference sessions were followed by an evening reception hosted by Cobham Satcom. Situated in the elegant atmosphere of The Dining Room on the 25th floor of the Radisson Blu Scandinavia, delegates, exhibitors and speakers alike were able to reflect on and further discuss the conference sessions amid stunning views of Copenhagen.
The Seatrade Tanker Industry Conference was organised by Seatrade in association with the Danish Shipowners' Association.
Sponsored by: ABS, Stena Weco, Cobham Satcom, Dampskibsselskabet Norden A/S, Danske Bank, DNV GL, DVB Bank SE, Hempel A/S, Nordic Tankers, Thome Group and Wärtsilä.
Supported by: BIMCO, Danish Marine Group, Danish Maritime, InterManager, INTERTANKO and SAMI.
Supporting media: Bunkerspot, Maritime Danmark, Maritime Security International and WorldOils.
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Editors' Notes:
For further details and photos of the Seatrade Tanker Industry Conference visit tankerconference.com.
Contact:
John Foreman, Global Head of Marketing, [email protected]
Seatrade - seatrade-global.com
Seatrade is a leader in maritime and cruise publications, conferences and exhibitions, training, awards and other special projects. Regular events include international trade exhibitions and conferences across all maritime sectors, management training courses for shipping professionals, training seminars for travel agents and maritime award schemes, including the prestigious Seatrade Awards held at the Guildhall in London. Seatrade publications include magazines, supplements and yearbooks, and electronic publications, including daily maritime news provided online by Seatrade Global at seatrade-global.com and a weekly e-publication called Seatrade Asia Week.