OPTIMISM is a rare and valuable commodity right now, so as the Nor-Shipping festivities kick off in earnest it is heartening to see that the wine glasses are still half full rather than half empty.
Official numbers at trade fairs can mask a multitude of problems, but on the face of it there is a clear indication that the industry is still out to do business.
Inevitably there is much talk of challenging conditions. Even before the fair could open its doors, speculation over possible victims of the downturn was keeping Oslo’s grapevines twitching. There is, however, also a wider sense of perspective.
The Norwegian Shipowners’ Association is pushing the line that this is a short-term crisis with long-term business opportunities, and in many ways they make a valuable point.
Given the long-term decisions that face owners, not least in terms of their hardware, shipping is still a long-term industry. While the minority are struggling with a short-term battle for survival, a greater number are more concerned with jockeying for position come the upturn.
As one industry voice recently put it, there are a number of “wealth redistribution opportunities” in the current market. And when world trade eventually steps up a gear, some companies will be far better placed than others to take advantage.
Taking the immediate crisis in hand is of course vital, but restructuring and consolidating for the long term is surely a far more positive process that we should all focus on.
