Read the full newsletter here. Last week we noted that the tide seems to be…
Read the full newsletter here.
This past week saw many changes—some handled well, and some poorly. On the plus side, we learned about the “Changing of the Guard” at The American Club with Dorothea Ioannou appointed to take the CEO helm from Joe Hughes, making her the first woman to lead a P&I Club. We also saw the industry advance on its emission responsibility with the IMO making progress on life cycle GHG guidelines, the potential use of drones to measure methane slip, and growing interest in adopting nuclear power for shipping.
On the downside, we witnessed the mass firing of P&O employees and the hiring of lower-paid workers to replace them. While understanding the role of economics in business, it is regrettable that it was conducted in a “cloak and dagger” sort of way. And, speaking of economics, we learned the average payment for cyber attacks is $3 million.
As we have said repeatedly, this is the decade of change with unprecedented demands for better operations in order to honor our responsibility to global society in providing transportation services. Given today’s communications speed and transparency, it is even more critical that we perform to our highest expectations and accountability.
The days of being in the shadows are behind us. As we emerge, let our goals be to present our highest selves to support our claim of being the most environmentally and economically efficient way to transport goods, people and energy!