Continuous improvement is the key element for success in the tanker industry

The relationships of tanker operators with the oil industry are continuously changing as the regulatory operational environment has become very demanding and the uncertainty in geopolitical developments influences the market fundamentals.
In the recent Tanker Operator Athens Conference it was mentioned that the charterers would like a safe reliable and efficient tanker industry and oil transportation. Today the oil majors either National Oil Companies or International Oil Companies (IOC’s) require high safety standards implementing a system of continuous audits and inspections.
In addition to these demands, the various geopolitical and economic developments such as regional wars, increase of world population, low oil prices, super cycle of commodities that is no more super create a very challenging market.

Full article, ELNAVI, May 2016, Issue 509, Page. 6

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