Secrecy Breeds Poverty

Paul Hardy, NSI

I am always surprised by the level of secrecy that surrounds the internal workings of most bunker companies (including brokers). It seems to me there is an inherent fear that by disclosing info through marketing that the company will somehow be compromised. I believe with 2020 around the corner the world is about to change. Those that stay silent hoping everything will be as it was will struggle. Those that harness marketing and communication will be the winners.

We are approaching the biggest change in the bunker market for many a year but it seems very few people are willing to give their opinion on the likely consequences. Is it for fear of being wrong? We all know in this market if you get it right 51% of the time you are a genius and 49% a fool! Joking aside, why not formulate an opinion and discuss openly? For me no view means no plan. A ship owner mused to me the other day "I have 50 people calling me every week telling me they can save me a dollar today but not one telling me how I can save 50 in 18 months time" (By the way if you want to know how give me a call)

At NSI, we are doing a huge amount of background work and analysis into what will occur in 2020. This also includes taking on different expertise to help with planning. We will collaborate with every sector of the market and have a clear view for our owners and a clear strategy for how to mitigate risk. What's more we are happy to share our view right or wrong with the market directly and via marketing. To do effectively it needs a very structured marketing programme to map what supplier's plans are and to communicate these to owners in a transparent and efficient way.

Vice versa as owners risk appetite changes for contracts in the run up to 2020 a strong marketing platform will allow the simple and effective sharing of information.

My belief is those that will prosper in this new environment are those that share openly between colleagues and collate / analyse and put that plan over to the wider market. As brokers we are on the front line as the transparent interface between ship owner and supplier. We can both push volume from the owner to the supplier as well as pull the volume the other way round.

As 2020 nears we aim to work ever closer with our supply partners to market their product to our pool of blue chip owners. This may come in the form of off the market sales of excess high sulphur product or contract opportunities for low sulphur product. What I can assure our partners though is we will have a loud and efficient voice in the market. This will be backed by marketing platforms which can monitor interest / response to all the key questions and challenges we face.