Our industry is currently in the midst of a crisis, and in a crisis it is often useful to look back at some of the fundamentals of our industry.
oal can lay claim to being one such fundamental factor. Not only is it a very significant cargo in terms of both volume and value, but it is also viewed by many analysts as a leading indicator of the market ahead of us.
China has in recent years emerged as a main driver of the world economy. And of course China plays a particularly important role for the shipping industry, being a significant ship builder, importer, exporter and, last but not least, ship owner/manager.
The theme of this issue of Bulk Carrier Update: “Coal to China” is therefore a natural choice.
DNV Maritime’s main focus is naturally on ships and the shipping industry. However, we truly believe that in order to be able to serve the shipping industry best, we not only need to know how ships and the shipping industry work but we should also understand how our industry fits into the bigger picture. Then we can be a truly valuable discussion partner and provider of services to the shipping industry. This issue of Bulk Carrier Update is an example of such a holistic view.
In closing, I would like to tell you about a conversation I had the other week with a respected Greek shipowner on the subject of the financial and shipping crises. He predicted that we had not seen the worst of the rough weather yet, and that things would get worse before they could get better. However, he said: “We in shipping are lucky compared to many other sectors – since our industry has always been a cyclical or ‘boom and bust’ industry and we know that there will be fair winds and sunny skies after the storm!”
On that positive note, I would like to add that you can count on DNV to support you through the cycles – in rough weather too.