During a specialist workshop sponsored by Paratus at the second edition of Geneva Dry, industry experts delved into the complexities of risk management for dry bulk shipowners and operators. The panel discussion, moderated by Neville Smith of Mariner Communications, highlighted the challenges facing the industry in managing both longstanding and emerging risks.
Andrew Roberts, from risk management platform RightShip, emphasized the need for the industry to adapt to the evolving risk landscape. Factors such as geopolitics, increasing tonne-miles, and digitalization are putting pressure on an already fragile system, requiring proactive risk management strategies.
Bas Van Steijnen, Chief Risk Officer at Nova Marine Carriers, pointed out the risks associated with regulatory changes, such as fuel regulations, posing a significant challenge for shipowners trading worldwide.
Vasileios Gkikas, from class society ABS, highlighted the unprecedented challenges posed by decarbonization and alternative fuels, emphasizing the need for industry-wide collaboration to navigate these uncertainties.
Gus Majed, CEO of Paratus, stressed the importance of hedging against bunker fuel freight price risks, noting that many shipping companies lack the ability to manage such risks effectively.
William Hogg, from Infospectrum, discussed the high-risk environment in the industry, where some stakeholders are willing to take on significant risks despite the potential consequences.
The panel unanimously agreed that small dry bulk owners and operators face an uphill battle in adapting to the changing environment, with many unlikely to survive without significant changes. Consolidations and market reshuffling are expected as companies grapple with increasing costs and regulatory complexities.
Despite the challenges ahead, the panel ended on a lighter note, discussing the risks of AI acting as the US president, showcasing the industry’s ability to navigate complex scenarios with a touch of humor.
Looking ahead, Geneva Dry will return next year, offering limited delegate passes for the premier commodities shipping conference. Tickets are now on sale, with the event promising insightful discussions on the future of the industry.
The Importance of Mental Health in Today’s Society
In today’s fast-paced and highly stressful world, mental health has become more important than ever. With the rise of social media, constant connectivity, and increasing work demands, it is no wonder that mental health issues are on the rise.
One in five adults in the United States experience some form of mental illness each year, according to the National Alliance on Mental Illness. This includes conditions such as anxiety, depression, and bipolar disorder, among others. These issues can have a significant impact on a person’s quality of life, relationships, and overall well-being.
It is crucial for society to recognize the importance of mental health and to prioritize it just as much as physical health. Mental health affects every aspect of a person’s life, from their ability to work and socialize to their physical health and overall happiness.
Ignoring mental health issues can have serious consequences, including increased risk of substance abuse, suicide, and other harmful behaviors. By addressing mental health concerns early on and seeking help when needed, individuals can improve their quality of life and prevent more serious problems from arising.
There are many ways to support mental health in today’s society, including promoting mental health awareness, reducing stigma around mental illness, and providing access to resources and support for those in need. Employers can also play a role in supporting mental health by offering mental health benefits, promoting work-life balance, and creating a supportive work environment.
Ultimately, prioritizing mental health in today’s society is essential for creating a healthier, happier, and more productive population. By recognizing the importance of mental health and taking steps to support it, we can create a society where everyone has the opportunity to thrive.