Although global shipping markets currently show signs of recovery, the next threat may just lurk around the corner. In interconnected global markets, non-linear dynamics contribute to sustain or break existing resource flows and associated dominant thinking patterns. It seems that nothing is ever free ofwhat Schumpeter referred to as process of “creative destruction”.
In the past we’ve quizzed representatives from BBC Chartering on the development of the business, the challenges and future prospects the company faces as carrier serving the energy industry. Today, PES talks to Raymond Fisch, Senior Vice President of the company, and asks him to give us an update on the current activities and thinking of the project carrier that currently enjoys a reputation as “indisputable market leader”.
PES: Welcome back to PES. We note that you’re continuing to update your fleet this year. Can you tell us a little about your modernisation program?
Raymond Fisch: We took delivery of four more new building vessels in April, May and June this year. They are part of our fleet renewal and modernisation program we announced previously. The ‘BBC Aquamarine’, the ‘BBC Coral’, the ‘BBC Balboa’, and the ‘BBC Olympus’ just commenced service for us.
The 14,360dwt vessels ‘BBC Aquamarine’ and ‘BBC Coral’ are number three and four of a series of 14 planned new buildings. This vessel type offers a combined lifting capacity of 800mt (2x400mt) and continues to mark the top of our heavy lift fleet portfolio. The ‘BBC Olympus’ is the fifth member of a vessel program we like to call ‘flexible workhorses’. We plan to operate eight vessels of this type with 9,300dwt that offer a combined lifting capacity of 700mt. This makes up for 22 new buildings alone in the lifting segment of 700mt and above. The ‘BBC Balboa’ is the fourth of a series of eight new vessels in the multipurpose segment with 8,000dwt and a lifting capacity of 2x80mt. We expect completion of all programs by the end of 2013, beginning 2014.
PES: It’s been a year since you announced to commence a pilot project with the ‘SkySails’ propulsion support system. How has it been received so far, and do you have any other technological innovations in the pipeline?
RF: Although we realise there is increasing awareness on ‘green shipping’ topics, the overall response to the ‘SkySails’ system is lagging behind expectations. There is still insufficient application of the system and hence it’s too soon to report any results. The ‘SkySails’ idea follows a fantastic vision and delivers a grateful topic for public interest, but time will tell how this vision will further evolve. Nevertheless, fuel efficiency remains a dominant theme in the shipping industry requiring our attention. As commercial operators, we are interested in employing leading edge tonnage, i.e. vessels that apply forward thinking technology.
If we compare for instance fuel efficiency of our newest ships with older ones, we can see significant differences. Although this is an important factor, there are other dimensions of market oriented innovation that we need to consider when we commit to long-term charter agreements of tonnage as commercial managers.
The role of the technical innovator is with the ship owner that supplies the tonnage to us. Our current fleet averages below five years of age and as such currently represents one of the most modern vessel portfolios in our market segment. As remarked earlier, there is an ongoing renewal process, and with newer designs applying new technologies we always strive to improve the quality and efficiency of our
fleet.
