Three quick questions with
Mr Kasra Ferasat
How was your New Years Celebration?
I went to a good friend’s house party. We had a great time within our newly remodelled home and surrounded by some of my closest friends who I haven’t seen in a while. Overall, I think that’s the best way to start the next decade!
What are your thoughts in terms of business for 2020?
I think we will see a modest increase in business in 2020 thanks to the O&G market increasing offshore activity as well as an increase in mining activity globally as commodity and precious metals prices increase. Also, there are other areas of global trade picking up after a prolonged time of uncertainty.
Additionally, I expect a trend towards resource protectionism/nationalism in certain countries as trade tensions escalate across the world. When this occurs, commodity and precious metals prices will increase because of supply shortages in various markets.
While trade fears persist and may become the new norm over the next decade, we freight forwarders will still have opportunities to grow our customer base and offerings through well considered innovation, new service offerings and business process optimization.
Do you generally have a negative, moderate or positive outlook for 2020?
I have a moderate outlook for 2020. These days everyone thinks the stock market is what drives actual market activity around global trade, but the stock market is not a good barometer of global trade and shipping in general. We look at the actual market activity and news within a sector such as O&G, Power Generation, Mining, etc to see where the trend and market growth lies. IMO 2020 will increase in shipping costs and create great profits for ship owners, in particular, those in the tanker markets. Shipping lines will struggle to grasp the true cost in various markets in Q1 and Q2 of 2020 as Low Sulphur Fuel prices will vary considerably in certain markets while fuel suppliers and fuel buyers figure out the supply/demand dynamics of the IMO 2020 requirements.