Watching Government: Boom and bust

"Expect the unexpected" was the recurring theme of a recent Washington, DC, conference sponsored by the International Association of Independent Tanker Owners (Intertanko). Michael Tusiani, CEO of the brokerage and consulting firm Poten & Partners, detailed for the international audience a list of "disruptions to normalcy" that have occurred over the past 9 months. These include weather delays, civil unrest in Venezuela and Nigeria, war in Iraq, nuclear power plant shutdowns in Japan, and the Prestige tanker accident."In today's environment both shipowners and charterers must deal with heightened unpredictability. How one copes with it will determine one's ability to survive and g...

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