Tough times call for long-term perspective
12 Mar 2009
Source:Eyefortransport

Norwegian risk management company DNV predicts that as many as 8,000 ships could be laid up within the next few years.

DNV says that shipping has entered an era characterised by cancellations, lay-ups and debt.

Around 1,000 vessels are currently idle. More and more carriers are slow-steaming on certain routes, laying up vessels and delaying or cancelling

newbuildings. In fact, the world's largest shipbuilder hasn't signed a single shipbuilding contract since September 2008.

According to DNV Maritime's chief operating officer, Tor Svensen, the industry is faced with an overcapacity of tonnage and the prospect

of negative growth.   "The shipping industry is concentrating on the bare necessities and tightening its belt and these are the sensible things to do,

but where there is change there is also opportunity," says Svensen.

DNV is ready with solutions that sharpen operational performance and focus on internal change to achieve maximum gain. Financial and e

nvironmental priorities can be harmonised and companies can improve vessel performance by optimising bunker management and equipment performance.

Also, as the number of maritime accidents rises, risk management must underpin changes and ensure safety is not compromised.

"It's impossible to predict the economic future, but we must look beyond the immediate crisis and maintain a focus on the environmental challenges we,

 as a global community, share," said Svensen.

He added that, in the short-term, the industry must ensure that it operates in an environmentally friendly way, which includes the handling of lay-ups

 and scrapping as well as voyage management and energy consumption.

In the longer-term, DNV will continue its work on the development of better technologies and more environmentally friendly and efficient shipping.

DNV believes that whilst the current situation is bleak, maintaining a long-term perspective will make everyone in the shipping industry better prepared once the present situation has stabilised.