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SIMS 2009 The 2nd Seoul International Maritime and Shipbuilding Conference 17 September 2009

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SIMS 2009 The 2nd Seoul International Maritime and Shipbuilding Conference 17 September 2009 Key Issues for Shipowners Today Peter M. Swift Managing Director, INTERTANKO – PowerPoint PPT presentation

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Title: SIMS 2009 The 2nd Seoul International Maritime and Shipbuilding Conference 17 September 2009


1
SIMS 2009The 2nd Seoul International Maritime
and Shipbuilding Conference17 September 2009
Key Issues for Shipowners Today
  • Peter M. Swift
  • Managing Director, INTERTANKO

2
Key Issues for Shipowners Today ?
  • Establishing an international framework of
    consistent regulations and standards
  • Delivering best environmental performance
  • Ensuring availability of good people (and quality
    ships)
  • Ensuring welfare and well-being of ships crews
  • Meeting the challenges of Piracy
  • Surviving the financial crisis

3
Establishing an international framework of
consistent regulations and standards
  • Shipowners supporting
  • International rather than unilateral legislation
  • Ratification of IMO (and ILO) Conventions
  • IMO Member State Audit scheme (Flag Coastal
    States)
  • Harmonisation and uniformity across Port State
    Control regimes
  • Development and Application of Common Structural
    Rules for Tankers Bulkers
  • Classification societies procedural
    requirements, unified requirements and unified
    interpretations
  • Greater uniformity in chartering practices and
    standards

4
Delivering best environmental performance
  • Air emissions
  • - Green House Gases
  • - Exhaust Gas emissions (Annex VI its
    revisions)
  • - VOC emissions
  • Spill Prevention and Response Planning
  • Ballast Water management
  • Biofouling
  • Antifouling systems
  • Ship Recycling
  • Port Reception Facilities (adequacy
    affordability)
  • Waste management (onboard and ashore)
  • Radiated Noise pollution
  • Cetacean strikes

5
Ensuring availability of good people -
recruitment, training and retention
  • Both a quantity and quality challenge
    !
  • Recruitment initiatives covering
  • Raising awareness of the industry
  • - www.maritimefoundation.com and Careers
    outreach programme
  • - www.shippingfacts.com
  • - www.careers-at-sea.org and DVD Careers in
    International Shipping
  • - www.bimco.org/Corporate20Area/Seascapes.aspx
  • Attracting entrants to the Maritime Professions
    (Round Table Human Resources strategy and IMO
    Go to Sea campaigns)

6
Ensuring availability of good people -
recruitment, training and retention
  • Both a quantity and quality challenge
    !
  • Training and retention initiatives covering
  • Provision of Cadet berths and training facilities
    on ALL new ships and maximum utilisation of cadet
    berths on existing ships
  • Revision of STCW Convention
  • Development of Tanker Officer Training Standards
    (TOTS), covering proficiency and experience, as
    the industry standard
  • Establishment of Seafarer Focus Groups to provide
    feedback of experiences

7
Ensuring welfare and well-being of ships crews
  • Initiatives covering
  • Unjustified criminalisation
  • Support for IMO-ILO guidelines on Fair Treatment
    of Seafarers (in event of Maritime Accident)
  • Improved conditions for shore leave and access
  • Reduction in number of inspections
  • Less bureaucracy and associated paperwork
  • Guidelines for safe handling of cargoes and
    fuels, tank cleaning and entry
  • Guidelines on implementing ILO Convention on
    work and rest hours
  • Higher standards of accommodation as industry
    norms

8
Meeting the challenges of Piracy
A problem in many regions, including South China
Sea, Somali Basin and Gulf of Aden, Gulf of
Guinea and South America !
  • Gulf of Aden / Somali Basin Guidance
  • Register Company and Ship with MSCHOA
  • Plan for Transit
  • Following Best Management Practices (V2)
  • Report regularly to UKMTO Dubai (or MARLO)

9
Surviving the financial crisis !
  • Demand World trade by sector
  • Supply Ships on Order Fleet development
  • Shipbuilding capacity
  • Tanker market

10
SIMS 2008Issues and Challenges for Tanker
Shipping
  • Global Financial Crisis

11
Global Financial Crisis Fleet Development
Seaborne Oil Trade
Oil tanker fleet
Seaborne oil trade
bn tonne miles
m dwt
Source INTERTANKO, Fearnleys
Source INTERTANKO, Fearnleys
12
Global Financial Crisis Tanker Fleet Removals
m dwt
?
Conversions 2005 2006 2007 2008 2009 Small
2 0 13 23 Aframax 0 4 19
14 Suezmax 0 6 13 9 VLCC
2 9 15 30
Source INTERTANKO
?
13
Global Financial Crisis
  • Credit crunch liquidity financing
    exposures covenants more.
  • Oil prices ?
  • Steel prices ?
  • Newbuild / scrap prices ?
  • Economic slowdown (or meltdown !) ?
  • Green agenda slowdown ?
  • Markets ?
  • Other ?

14
SIMS 2009World Trade GDP
Source Clarksons (September 2009)
15
World Oil Demand vs. GDP
Source Clarksons (September 2009)
16
Seaborne Crude Imports
Source Clarksons (September 2009)
17
Total Oil Products Imports
Source Clarksons (September 2009)
18
Dry Bulk Seaborne Trade
Source Clarksons (September 2009)
19
Global Container Trade
Source Clarksons (September 2009)
20
Orderbook Development
Source Clarksons (September 2009)
21
Tanker Fleet Development
Source Clarksons (September 2009)
22
Bulk Carrier Fleet Development
Source Clarksons (September 2009)
23
Containership Fleet Development
Source Clarksons (September 2009)
24
Shipbuilding output and forecast
m cgt
Source Worldyards/INTERTANKO Aug 09
25
Shipbuilding output potential
m cgt
Worldwide estimates in m cgt - small and big
ships (Aug 09)
Source Worldyards/INTERTANKO Aug 09
26
Shipyard output potential - surplus
  • Implications ?
  • Distressed sales / lower prices
  • Quality and standards maintained or weakened
  • Pressure on suppliers and sub-contractors
  • Greater customer focus customisation
  • and government interventions ?

27
Average tanker freight rates (based on Baltic
Exchange rates)
USD/day
Source Baltic Exchange/INTERTANKO
28
Orderbook by ship type(as existing fleet)
Source Clarksons (September 2009)
29
Tanker sales for demolitionand VLCC freight rate
USD / day
m dwt
  • Until week ending 4 September
  • Sales for demolition until 4 September
  • Clarkson Freight rate AG-Japan week ending 4
    September

Source INTERTANKO
30
Tanker deliveries, removals, max phase-out All
tankers gt 25,000 dwt
m dwt
Assumed balanced market end 2008
31
Lower Freight Rates Fleet surpluses in ALL
sectors not just tankers
  • Implications ?
  • Challenge to maintain quality and standards
  • Challenge to meet the issues of the day
  • and government interventions ?
  • Panel Discussion to follow on
  • - Financial Crisis, its prospect
  • - Role and Responsibilities of Regulators,
    Class, Shipbuilders, Repairers to Promote
    Maritime Safety and Quality Shipbuilding

32
Thank you ????? For more information, please
visit www.intertanko.com www.maritimefoundation.c
om www.poseidonchallenge.com www.shippingfacts.co
m
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