Lloyd’s List One Hundred | Edition Seven The most influential people in the shipping industry Maritime intelligence | CONTENTS The rankings Top 10 lists 04 | 37 | Introduction Marine insurance top 10 08 | 51 | Numbers 1-10 Ship finance top 10 26 | 64 | Numbers 11-20 Regulation top 10 40 | 81 | Numbers 21-30 Maritime lawyers top 10 55 | 132 | Numbers 31-40 Classification top 10 70 | 140 | Numbers 41-50 Box ports top 10 82 | Numbers 51-60 93 | Numbers 61-70 104 | Numbers 71-80 116 | Numbers 81-90 128 | Numbers 91-102 Top 100 Editor Chief executive Advertising Production Manager No part of this publication may be reproduced, Helen Kelly Michael Dell Mark Leech stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, Lloyd’s List Managing Editor Head of Marketing Services Design photographic, recorded or otherwise without the Richard Meade Fergus Gregory Kapusniak Design written permission of the publisher of Lloyd’s List. 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Janet Wood (Greece and Cyprus) Julian McGrath Louise Challoner, Head of Marketing, Lloyd’s List Malgorzata (Gosia) Dabrowska Direct tel: +44 (0)207 017 5445 Contributors Robbi Tamne Janet Porter, James Baker, Linton Nightingale, Email: [email protected] Americas Nigel Lowry, Max Tingyao Lin, Hal Brown, Nidaa Linsey Rajan Lloyd’s is the registered trademark of the society Bakhsh, David Osler, Anastassios Adamopoulos, Wei incorporated by the Lloyd’s Act 1871 by the name Zhe Tan, Cichen Shen, Eric Yep, Inderpreet Walia, Classified of Lloyd’s. Lambros Papaeconomou Maxwell Harvey www.lloydslist.com/top100 | Lloyd’s List One Hundred Edition Seven 3 4 Lloyd’s List One Hundred Edition Seven | www.lloydslist.com/top100 SHIPPING’S KINGPINS HEDGE THEIR BETS AND PLAY FOR FLEXIBILITY Defensive pragmatism and reactive prudence is driving our annual ranking of the industry’s most influential figures, but next year’s list may look very different as a result LAST year’s edition of the Lloyd’s List Top 100 argued of it is happening swiftly enough or with sufficient that it would be exogenous events, not self-inflicted determination to positively affect change. folly, that would drive industry fortunes in 2016. The macro picture is riddled with risk By and large, we have been proved right. and shipping is playing for flexibility in the Certainly the seeds of our misfortune — and many absence of any clear direction forward. of the year’s headline events — can be traced back It is easy to see why. to irresponsible decisions that lead to overcapacity. For the first time in decades, growth in world But in reviewing the actions of our industry kingpins trade is falling below global economic growth. over the past 12 months, it seems our list of the Economic prospects in key emerging markets remain boldest and the brave are doing as little as possible uncertain and it is not obvious where a powerful new this year. Events are happening to them, rather than engine of growth is to be found. Protectionism and as a result of strategic moves or proactive decisions. isolationist sentiments are eroding the very basis for Shipping’s agency in determining its own fortunes global collaboration on which our industry relies. has always been limited, but right now it feels That was true before the prospect of ‘Trumpenomics’ like the industry is collectively playing defensive became a reality for everyone — now we are looking moves in reaction to forces outside of its control. at a protectionist vision of the future that could Consolidation is certainly happening, albeit stall globalisation and even send it into reverse. reluctantly in many cases. Cost-cutting continues, Add to that the threat of digital disruption scrapping is soaring and prudence permeates from platform-based business models, seismic every part of the industry, but these are less shifts in supply chain logistics technology, a active decisions, more inevitable reactions to the pipeline of regulatory requirements that will circumstances in which we find ourselves. And none only grow in complexity and cost, and limited www.lloydslist.com/top100 | Lloyd’s List One Hundred Edition Seven 5 sources of finance. It is understandable that this is an industry looking to hedge its bets. The Lloyd’s List Top 100 explained This annual ranking of influence among the movers and shakers of our industry really is not Any ranking of the industry’s most influential about the relative positions year on year, however people is going to be subjective, so we do not entertaining or maddening you find them. The list pretend ours is definitive. It is meant to be the is our opportunity to step back and measure the beginning of a conversation, not the final word. forces at play in our industry and take stock of the There are all sorts of yardsticks for measuring trends and likely outcomes of the year’s events. influence. Ours is based largely on analysing Our Top 100 therefore reflects the fact that the industry events and business decisions of disruption and uncertainty continue to reshape the past 12 months, but inevitably that comes business strategy and, in many ways, have led to with context, which we consider too. a retrenchment in activity. But it also reflects a more realistic outlook ready for real change. Our ranking is borne out of a collective editorial In a market that, even in the most optimistic discussion within the Lloyd’s List newsroom analysis, has only risen from ‘catastrophic’ to and it is our intention to produce a useful ‘gloomy’ in the best sectors and headed in the snapshot of the forces at play within our opposite direction for most others, nobody industry and some forward-looking nods to is claiming to have had a good year. the trends into which each profile delves. The manner in which some have ridden It is not comprehensive; it is unlikely to be fair; but it out the storm, however, is telling. is, we hope, a compelling annual examination of our The current appetite for consolidation and an industry and the personalities that drive it forward. apparently inexorable shift towards scale, transparency So tell us what you think: Is Søren Skou more and corporatisation that will allow companies influential than Xu Lirong? Does John Fredriksen access to finance is clearly still key for many. deserve to outrank John Angelicoussis? Do cargo But big is not always considered beautiful for interests like Cargill’s Jan Dieleman belong on the list shipowners and what of the squeezed middle and at all? Who did we miss? What did we get wrong? increasingly niche small players well outside of our elite Top 100 scope? These players still represent the Join the conversation by e-mailing us at backbone of the industry, but the fortunes of this [email protected] fragmented demographic are increasingly frail. Are traditional concepts of discipline and timing sufficient, or is the fact that the single focus for many companies right now is to have enough cash to pay debts and merely survive indicative and beyond is likely to be made up by those who of shipping’s corporate strategy in crisis? were not prepared to passively accept their fate to None of the industry figures on our list this be buffeted uncontrollably by economic headwinds. year have escaped unscathed by the problems As one of our 100 noted earlier this year, when you facing the rest of the market, but it is fair to say claw your way back from the worst market ever, the that some strategies have fared considerably road is long, rocky and tough. It requires stamina, better than others. We can and should learn adaptation and determination from all shipowners. lessons from success as well as failure. The market has improved, based on growing But if 2016 was a year in which external events demand, but the sector cannot rely on this overshadowed the shipping industry, our list for 2017 alone — it is out of its own hands. 6 Lloyd’s List One Hundred Edition Seven | www.lloydslist.com/top100 Capt Xu: a rough time to take on his new job. 8 Lloyd’s List One Hundred Edition Seven | www.lloydslist.com/top100 XU LIRONG 2 (2015: 3) 01 China Cosco Shipping Group Can Capt Xu leave his handprints on the ‘Avenue of Stars’ of China’s shipping history? WHEN the 17-year-old Xu Lirong To add insult to injury, perhaps, shipping trades, and says his started his career as a Cosco the victory of Donald Trump in the company is considering publicising seafarer, it had probably never US presidential election has brought the breakdown of its cost details occurred to him that four decades another layer of uncertainty to and boiling them down to a later, he would chair Cosco Shipping the shipping industry.