‘Stay positive – and ride out the storm’

“2008 was one of the best ever years for the shipping industry, and that’s including the last three months when things began turning round so dramatically. Since then the industry has been hit by a tsunami of events,” says Captain Salvatore Sarno, managing director of the South African Mediterranean Shipping Company (MSC) operation. “Everyone at MSC, worldwide and here in South Africa, is working hard at weathering the storm of the economic downturn while examining every way of curtailing costs, but without affecting our people,” he said. “We’re looking at making thousands of little savings,” he added saying that the general tenor of the company is to remain confident. “The attitude of those in Geneva and myself is to remain positive, not to show panic – we prefer to remain optimistic. “In our opinion we’ve reached the bottom of the trough and must now ride things out. It’s time to stabilise things. Everybody hopes the recovery will be quick. But we need to remember that although imports and exports are down by 30% and 20% respectively, the volumes we are now seeing are the same as those for 2007, so it’s not a total disaster.” Sarno says the real disaster lies in the East-West trades where there has been a complete collapse. “In June we’ll start seeing some general freight increases on these trades so that should bring about some improvement, but on those trades the general situation is really bad.” In November MSC will introduce the 2002-built cruise ship MSC Sinfonia to South Africa in partnership with Starlight Cruises, when the 59 000 ton ship arrives to undertake a summer season of cruising out of Durban. “This will be the most luxurious hotel in South Africa, except she is afloat,” Sarno said, adding that this once again indicates MSC’s confidence in South Africa. “The Sinfonia offers top luxury such as staterooms all with their own balconies in a class of ship to attract the most sophisticated passenger. South Africa has never had such a ship based in her waters before.”