It's good to talk

By Janet Porter

Thursday 20 March 2008

WHEN Philip Green burst onto the container shipping scene a few years ago as chief executive of P&O Nedlloyd, he seemed slightly baffled by the culture of secrecy that surrounds much of the business.

As an outsider, he was free of the baggage that weighs down too many liner shipping bosses, and instead was comfortable speaking frankly and openly about both his own company and the issues confronting the whole industry.

Mr Green moved on to new pastures soon after P&O Nedlloyd was sold to AP Moller-Maersk. But the Danish group’s chief executive Nils Andersen is also one of the new breed who understands the need to communicate.

In less than five months, the former head of Carlsberg has banished Maersk’s cautious approach to public and investor relations, publishing more information than ever before and apparently willing to take on a wider leadership role.

The whole container shipping fraternity should be thankful.

For this is an industry facing a real crisis. Many lines may be producing good numbers now, but if the US economy plunges into recession, and fuel prices stay at these hyper levels, they can say goodbye to profits unless something is done fast.

Mr Andersen understands that.

He didn’t attend last week’s Box Club meeting, where no doubt other shipowners had the same concerns on their minds as they again met behind closed doors - but have yet to issue a public statement.

Instead, he was talking publicly about the absolute necessity of passing on bunker costs.

Isn’t that what all industry leaders should be doing in such difficult times - getting the message across to customers, regulators and the wider world about the challenges every one of them faces?

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