Paul Jennings

Green recovery

Şadan Kaptanoglu, the president of BIMCO, was another high-profile guest on our show a few weeks ago

Twelve months into her two-year tenure as the first woman president of BIMCO, the world’s largest international shipping association, Şadan Kaptanoğlu is having to restress her green priorities, something that risks being sideswiped by the Covid-19 pandemic.

Kaptanoğlu explained in a widely watched episode of the show at the end of May why it is so important shipping does not lose focus of its 2050 greenhouse gas commitments.

“If we do not follow this green path we will create very domestic, regional, different regulations and that will be a catastrophe for shipping, so we will not lose our focus,” she said.

“Shipping is on the track of decarbonisation,” the Turkish shipowner maintained. “We have a target to meet and we are working on it. Yes, we are going through unprecedented terrible times but this will not change this… Because we have a 2050 target for greenhouse gas emissions and this needs to be fulfilled.”

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On propulsion choices facing owners in the coming years Kaptanoğlu was not sure one size/ ship type fitted all.

“There won’t be one solution,” she said. “There will be different propulsion solutions for different types of vessels and different types of trades. To put one forward now would only be for some of the vessels or some of the trades so I will not put any one in front.”

Kaptanoğlu, the managing director of Istanbul-based HI Kaptanoglu Shipping, explained how the coronavirus has shaped the latter half of her BIMCO tenure and her expectation for a very tough 12 months ahead for the shipping industry.

“When something happens like this it can change your priorities,” Kaptanoğlu conceded. “Right now all the shipping associations - not only BIMCO - are working together closer than ever and our top priority are the seafarers to ensure they are safe, both physically and mentally, and to ensure they can have crew changes as soon as possible. It also shows all of us how this crew change system is fragile.”

The plight of seafarers marooned at sea has become Kaptanoğlu’s top immediate priority. Getting the International Maritime Organization (IMO) to act fast was easy enough, she said; the harder part was taking the issue to governments around the world.

“A shipowner’s responsibility is to protect sea trade and to do it efficiently and effectively so our famous

global supply chains will not change and will work smoothly,” Kaptanoğlu said.

On the markets, the Turkish shipowner warned her peers to brace for a “very challenging year ahead”.

“We do not expect any V-shaped recovery, more a W-shaped one,” she said going on to explain that like the virus the debilitating effects have spread from cruise to ferries to containers to dry bulk.

“Eventually it will lead to all the segments. It will be very difficult times,” Kaptanoğlu stressed.

“The quicker shipping companies move and adapt the better, but we will see a lot of change,” she predicted, going on to say: “Lots of people say we have this great chance for change - these are very romantic ideas and I wish it was the case but what we see in front of us are trade barriers increasing, populism is increasing and everyone is going to their own corners and they are trying to roll over the globalisation, but globalisation is a good tool, ultimately it is good for everyone.” ●