Speaking at the 7 th City of London Biennial Meeting at the International Maritime Organisation (IMO) in London in November, the theme of which was "looking ahead with optimism and realism", Tom Boardley, marine director at Lloyd's Register, said that the shipping industry by nature contains pockets of crisis but also pockets of hope.
"Operating expenses have gone up by 140% in the last 20 years," [Nikolas Tsakos] said, adding that the shipping industry had "shot itself in the foot" by adding capacity but neglecting to control costs and improve efficiency.
"Eco-cars are up to 50% more fuel efficient than they were 50 years ago," he said. "Compare that to the new Japanese 60,000 dwt Supramax, which is only about 15% more efficient today than [its equivalent was] in 1965, and you can see how the shipping industry is lagging."
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