Staying competitive

Arnold Witte, of the International Salvage Union, considers competitive provision of salvage and wreck removal services

There is nothing like depressed margins and reduced rates to kick start a bout of introspection in any industrial sector. The fall over the edge of the pre-2008 boom-time cliff has been more dramatic and vertiginous in shipping than in many other arenas. The current period of soul searching in the shipping industry is understandable and, indeed, desirable.