83 Paolo d'Amico, Intertanko
Paolo d'Amico's first year as chairman of Intertanko was a difficult one, amid threats against tankers and their crews. Next year, the organisation could play a crucial role in the enhancement of the IMO 2020 sulphur cap.
The veteran Italian has headed the world's leading tanker association during a tumultuous year
THE year of 2019 in the tanker industry was not for the faint-hearted.
Attacks and seizures of vessels, sanctions leading to massive spikes in charter rates and, of course, the run-up to the IMO 2020 sulphur cap all made for a very volatile year.
Paolo d’Amico, the Italian who took over the chairmanship from Nikolas Tsakos in late November 2018, not only had to prepare his own firms for the changes but also represent the interests of the tanker industry in the face of physical threats.
One of Italy's most well-known maritime leaders, Mr d’Amico heads up the d’Amico Group, with product tankers, dry cargo, containerships and shipmanagement units under its belt.
This gives him a well-rounded understanding not just of how the tanker industry works but also of the unique challenges it faces.
The spate of security incidents seen in the Strait of Hormuz and the Gulf of Oman in the spring and in the summer of this past year highlighted not just the significance of tanker shipping and the region but also the vulnerability of vessels and crew to geopolitical tensions over which they have no influence or bearing.
With such tensions still simmering, Intertanko will need to continue to be vigilant in protecting the interests of the sector next year.
Mr d’Amico will also have to contend with the first year of the sulphur cap.
Backed by experienced managing director Kathi Stanzel and the rest of the secretariat, Mr d’Amico and Intertanko are expected to contribute policies that will bolster the regulation and help address some of the outstanding concerns, while also continuing to help members with the transition.
On a personal level, as the chief executive of d'Amico International Shipping, the product tanker owner of around 47 vessels, Mr d’Amico is confident that the sector has a strong future ahead of it, owing both to market fundamentals and the 2020 sulphur cap.
This is Mr d’Amico’s first appearance in the Top 100.