National Shipping Company of Saudi Arabia (Bahri), a leader in logistics and transportation, recently hosted three of the world’s leading maritime transportation veterans and thought leaders at its annual Bahri Oil Transportation Forum, which was held in Dubai, UAE, during the Bahri VLCC Week.
Organised under the theme, ‘Tanker Market Opportunities and Challenges’, the half-day event brought together major regional and global maritime tanker sector players under one roof to exchange thoughts and views, said a statement from the company.
The panel discussion, which attracted more than 200 guests from around the world, featured industry titans including Mohammed Al-Sarhan, vice chairman of Bahri; John ?Angelicoussis, chairman of Angelicoussis Shipping Group Limited; and George Procopiou, chairman of Dynacom Tanker Management ?Limited, it said.
The panel was moderated by Michael D Tusiani, chairman of Emeritus, it added.
The discussion covered important topics such as the current condition of the oil transportation and tanker market, threats and challenges to the industry and effective strategies to address them, financing and investments, public versus private, renewables and technology, biggest opportunities and future outlook, as well as some personal insights and backgrounds, said a statement.
Panelists also highlighted the distinctive reputation and leading position Bahri enjoys in the market, in addition to the project of King Salman Global Maritime Industries Complex at Ras Al-Khair, and the role of the Government in supporting and instilling confidence in national companies, among other related topics.
Al-Sarhan said: “We are very optimistic about the future of the oil tanker market and we believe that there will continue to be demand for this market.”
?Angelicoussis said: “Markets where the population is high and where there is a very high GDP growth, for instance China and India, are markets that are immensely helping our industry. These countries need more oil and they are far away from reaching the levels we are consuming in the region.”
Ali Al-Harbi, acting CEO of Bahri, said: “The forum provides us with a strategic networking opportunity to connect with key stakeholders and jointly share our views on our outlook for the industry.”
“As market leaders, we consider it among our top priorities to lead the dialogue on industry trends, impact, and opportunities,” he said.
“We are proud to see the success of the event in being recognised as the voice of the oil tanker market that is dedicated to facilitating an open discussion on our achievements as well as shortcomings, and exploring ways to overcome them,” he added.
Naser M Al-Abdulkareem, president of Bahri Oil, said: “As the world’s largest owner and operator of very large crude carriers (VLCCs) and a market leader in the tanker sector, we are committed to leading the discussion on the next phase of growth in the maritime industry while strengthening Saudi Arabia’s position as a regional logistics hub as outlined in the Saudi Vision 2030.”
“The global oil tanker market is going through a significant phase and it is up to us – as industry players – to come together and look for innovative ways to address the most pressing challenges and explore new opportunities that would enable us to become more resilient in a rapidly changing global economic environment,” he added. – TradeArabia News Service