Page 24: of Maritime Logistics Professional Magazine (Q2 2016)

Energy Transport & Support

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Kim Ullman,

President at Concordia Maritime

Credit: Concordia a signi? cant build-up in future years might not be. “the smartest people - and that’s perhaps a inventories as oil supply Capacity utilization, where provocative quote - are sailing in the tank- outstrips demand. Unfortu- supply and demand inter- er trades or liquid cargo segments.” nately for the tanker mar- sect; drives market strength. ket, this trend is expected Quite simply, tanker de- - Simon Frank, Vice President and Head of to reverse in 2017.” Another mand (with the surge in oil

Global Marine HR in TORM A/S consultant, UK-based Mari- being purchased for both time Strategies Interna- consumption and storage) tional (MSI) says, “…the shape, and descent of rates to 2018 nearly exceeded the available supply of vessels. remains a consistent feature.”

MSI provided additional color, advising clients that ? eet

Tanker Firms Train for the Future supply, going forward, is a worry, saying, “… deliveries, Ongoing training is a big part of the story at Euronav, a large driven by the larger sizes in both the crude and product sectors Antwerp-based owner of 55 vessels comprised of VLCC’s and (VLCCs, Suezmaxes, LRs) will jump in 2016 and be sustained Suezmaxes. Mr. Nikos Kolouris, Fleet Personnel Manager, at high levels over a two to three year period.” On the demand when asked about training practices, told MarPro: “Roughly side, they cite several key drivers. Speci? cally, whether major 50% of crew is recruited directly by company’s crewing depart- oil exporters and North American producers might curb their ments and 50% indirectly through company’s appointed man- output, what the health of the global macroeconomic environ- ning agents. The company also recruits cadets directly from ment will look like, and whether sustained low prices might maritime schools.” Once aboard, “There is a close cooperation stimulate demand. with selected third parties accredited training centers and a

Another consultant, Drewry, offers a dramatic visualiza- number of training seminars are offered in-house,” he contin- tion (see GRAPH 2) of why 2015 was so strong, and why ued, adding, “The company offers speci? c training depending 24 Maritime Professional 2Q 2016| |

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Maritime Logistics Professional

Maritime Logistics Professional magazine is published six times annually.