Tanker Market Opportunities and Challenges Discussed at ‘Bahri Oil Transportation Forum’ in Dubai

Tanker Market Opportunities and Challenges Discussed at ‘Bahri Oil Transportation Forum’ in Dubai
14 November 2017 -
  • Tanker Market Opportunities and Challenges Discussed at  ‘Bahri Oil Transportation Forum’ in Dubai
    Tanker Market Opportunities and Challenges Discussed at ‘Bahri Oil Transportation Forum’ in Dubai Tanker Market Opportunities and Challenges Discussed at ‘Bahri Oil Transportation Forum’ in Dubai

Bahri, a global leader in transportation and logistics, recently hosted 3 of the world's leading maritime transport veterans and thought leaders at its annual Bahri Oil Transportation Forum, which was kept in Dubai, United Arab Emirates, during the Bahri VLCC Week. Organized under the theme, ‘Tanker Market Opportunities and Challenges,’ the half-day event combined major regional and global maritime tanker sector gamers under one roofing system to exchange thoughts and views.

The panel discussion, which attracted more than 200 visitors from around the world, featured industry titans consisting of Mohammed Al-Sarhan, Vice Chairman of Bahri, John Angelicoussis, Chairman of Angelicoussis Shipping Group Limited, and George Procopiou, Chairman of DYNACOM Tanker Management Limited. The panel was regulated by Michael D. Tusiani, Chairman of Emeritus.

The conversation covered important subjects such as the existing condition of the oil transport and tanker market, hazards and challenges to the industry and reliable methods to address them, funding and financial investments, public versus personal, renewables and innovation, greatest possibilities and future expectation, as well as some individual insights and backgrounds.

Panelists likewise highlighted the distinctive credibility and leading position Bahri enjoys on the market, in addition to the project of King Salman Global Maritime Industries Facility at Ras Al-Khair, and the role of the Government in supporting and instilling self-confidence in national companies, among other associated topics.

Mohammed Al-Sarhan, Vice Chairman of Bahri, who has substantial experience in oil and gas, transport and logistics, and various other industries, said: "We are very optimistic about the future of the oil tanker market and we believe that there will remain to be need for this market."

John Angelicoussis, Chairman of Angelicoussis Shipping Group Limited, claimed: "Markets where the populace is high and where there is a really high GDP growth, for instance China and India, are markets that are profoundly assisting our industry. These countries need even more oil and they are away from reaching the degrees we are consuming in the region."

" The Bahri Oil Transport Forum gives us with a strategic networking opportunity to connect with key stakeholders and collectively share our sights on our expectation for the industry. As market leaders, we consider it amongst our leading concerns to lead the dialogue on industry patterns, impact, and possibilities. We are happy to see the success of the occasion in being recognized as the voice of the oil vessel market that is dedicated to helping with an open discussion on our achievements as well as imperfections, and discovering ways to overcome them," stated Ali Al-Harbi, Acting CEO of Bahri.

" As the world's biggest proprietor and driver of Very Large Crude Carriers (VLCCs) and a market leader in the vessel field, we are committed to leading the conversation on the next stage of development in the maritime industry while strengthening Saudi Arabia's position as a regional logistics center as described in the Saudi Vision 2030. The global oil vessel market is experiencing a considerable phase and it depends on us - as industry gamers - to come with each other and search for innovative methods to address the most important challenges and discover new possibilities that would certainly allow us to become extra resistant in a rapidly altering global economic environment," stated Naser M. Al-Abdulkareem, President of Bahri Oil.

John Angelicoussis is Chairman and CEO of Angelicoussis Shipping Group Limited, a privately-owned company which has and runs a modern fleet serving the oil, gas and dry freight markets. The Group was established in 1947 by Angelicoussis' father, and was the first Greek shipowner to checklist on the NASDAQ in 1989. From 1989, the Group boldy expanded into VLCCs and most recently into the LNG field. Today, with an operating fleet of 123 vessels, the Group is the largest ship-owning entity in Greece and among the world's largest privately-owned fleets employing over 5,000 personnel.

George Procopiou is one of the most famous names in the world of maritime transportation. He has handled throughout the years a shipping fleet over of 500 vessels given that getting in the delivery business in 1974. Since 2002, he has built more than 100 vessels at shipyards in China, South Korea and Japan. Procopiou has also acted as Chairman of the North of England P&I Association. He is Chairman of the Greek board of Bureau Veritas, along with member of the Greek committees of Det Norske Veritas, Germanischer Lloyd (DNV GL), Lloyd's Register and ABS.

Michael D. Tusiani joined Poten & Partners in 1973. From 1983 to 2016, he acted as its Chairman and Chief Executive Officer. During his job, he has been active in all elements of oil and gas trading and transportation. He has written many articles on power and shipping matters.