“Our industry must prepare for times of change and turmoil, and IMCA (the International Marine Contractors Association
) – representing the marine contracting industry globally – must be in tune with our members and support them,” said IMCA President, Massimo Fontolan of Saipem as the fall in the oil price continues
to dominate the headlines.
With more than 1,000 member companies in more than 60 countries, IMCA said it is well-placed to “take the temperature” of this part of the supply chain. In an open letter to IMCA members and other stakeholders in IMCA’s quarterly publication “Making Waves”, Fontolan explained, “Whilst we maintain a positive sentiment as to the future of our industry in the medium long term, the present economic circumstances will not pardon poor performance, lack of competence or low standards. The effective management of risk through good practices, fair contracting principles and high standards of quality and safety will be paramount more than ever.
“We expect increasing pressure on rates and prices in attempts by our clients to pass their difficulties down the supply chain. This will require our members to adapt quickly, without relying on traditional, consolidated business models and positioning, and certainly not delivering poor performance, inefficiency, low quality and standards.
“This is where the IMCA mission lies and, as our focus is on championing better regulations and enhancing operational integrity, IMCA must be able to measure and monitor the actual performance of the marine contracting industry throughout the whole value chain – thus unlocking its potential.
“In nature, those capable of adapting fast will not only survive, but dominate,” he said, going on to look at the effect on IMCA itself. “This applies equally to IMCA, for we shall take advantage of this situation and turn it into an opportunity to review and strengthen our organization, expand its role and improve services to the members.”