Clarksons brokers have been testing the mettle of their clients in a series of challenges as part of its tanker training week.
The London-listed company welcomed 18 early-career professionals to the UK capital last week.
Of these, 11 came from Clarksons’ own offices in London and Singapore, while seven clients travelled from Croatia, Hong Kong, Norway, Oman and the US.
The aim is to provide participants with strong foundations for working in the global tanker industry, the company said.
The course offers an in-depth look at critical topics, including commercial, financial, analytical and regulatory aspects of the sector.
Topics included the impact of economic and political events on the tanker market, compliance requirements, sanctions and regulatory frameworks, negotiation and chartering processes, demurrage and claims management, and the green transition.
Day three focused on a hands-on chartering exercise centred on voyage calculation, evaluation and chartering strategies.
Four teams competed with each other to cover two cargoes of West African crude oil exports while securing employment for an owned vessel and four time-chartered vessels.
The teams were required to negotiate with four “seasoned” brokers determined to make life difficult, Clarksons said.
“All four teams prepared well and only one fell into the re-let trap,” the broker added.
A Dragons Den-style competition also returned for the first time in four years.
‘Teapot’ pool
The four teams presented innovative business pitches to the judges: course director Robert Knight, deputy course director John Edmondson and crude directors Colin Murray and Lewis Cowley.
Each had just 10 minutes to persuade the panel to invest in their new company concept.
They focused on various service and product offerings designed to improve the efficiency of onboard carbon capture, the management of freight documentation and virtual ship arrival.
The competition was tight but a team called Charterers’ Swimming Society impressed with a vessel pool pitch to reduce freight costs for the smaller Chinese “teapot”, or non-state, refineries.
“They showed an attractive proposal with analytical support and strong presentation and teamwork skills, securing their victory,” Clarksons said.
The Jim Gretton memorial trophy award for best engagement throughout the week was presented to Lovre Herenda of Croatian shipowner Tankerska Plovidba.
“This year’s tanker training week was a lot of fun. The course covered a broad spectrum of commercial, financial, operational, legal and regulatory issues, so there is truly something for every participant,” Clarksons head of learning and development Malcolm Willingale said.
