Singapore: The new president of the International Shipsuppliers & Services Association (ISSA), Abdul Hameed Hajah, has outlined his priorities for the year ahead with innovation and cross industry co-operation sitting at the top of his agenda.
Singapore-based Hajah, who officially took over as president of ISSA on 1 January this year, has highlighted innovation and improved productivity in the supply chain as key processes in the efficient management of today’s ships. A highly efficient and strong international ship supply industry is crucial to this process, he said.
2015 is a significant year for ISSA as it celebrates 60 years of existence which will be marked by its annual convention and trade exhibition on 24 to 26 April as part of Singapore Maritime Week.
On the markets, Hajah tells Maritime CEO, “The marine industry still has an underlying problem of overcapacity in most sectors and/or insufficient cargoes. This mismatch is undoubtedly being eroded but has some way to go and has not been helped by the slowing of the mega economies.”
Hajah says he is hearing quite a lot about the cost to ship operators of meeting the new environmental rules.
Hajah thinks the fall in oil prices is a mixed blessing for shipping.
“Falling oil prices are good news for all who buy oil, be it for bunkers or to fuel the ship supplier’s delivery trucks, but perhaps the bigger picture is not such good news,” he warns.
If the value of oil remains as low as it is there’s no incentive for further exploration and drilling, he explains, adding that if oil volumes decrease times will be even tougher for all tanker sectors.
“While a modest reduction in oil prices would have been well accepted, perhaps the extent of the current collapse in oil price is probably not such good news for the ship supplier,” he concludes. [14/01/15]
