Building resilience in the face of adversity

The first quarter of 2019 is already in our wake and the regional shipping industry continues to grapple with the many challenges in the global market. Trade disputes, uncertainty over exchange rates, the direction of United States foreign policy, Brexit and a host of other issues have combined to impede our momentum, but I firmly believe that, just as before, we will evolve and emerge stronger.

Despite the current climate, it is important for us to engage in strategies that contribute to the continued viability of our businesses. While considering the necessary steps to weather the prevailing industry storms, the word ‘resilience’ has been resonating strongly with me – and for good reason. Resilience, through our ability to quickly recover from setbacks or adverse situations, has emerged as an essential quality for successful companies in all industries. As we are well aware in shipping, complex and unforeseen changes are par for the course. But what we need to ask ourselves now is whether we have invested sufficiently in organizational agility and resilience to give ourselves the best chance of surviving – and even thriving – in the volatile business environment.

Adapting to market shifts

If we are found wanting in this area, it is imperative that we move quickly to transform our operational framework to reflect the necessary dynamism and flexibility that will allow us to adapt to shifts in the market. In embarking on a comprehensive program of resilience planning, we must equip ourselves with the right tools, resources and knowledge to prepare for and respond efficiently and effectively to disruptions.

This approach should involve identifying areas for organizational improvement and implementing techniques and processes to anticipate changes caused by market forces, economic activity, natural shocks, human resource issues and transformative technology, among other factors. It should also focus on tapping into emerging opportunities in an effort to rebound even stronger in the aftermath of an upheaval. During this process, it is absolutely essential to consider the needs of our current and potential customers. This will provide us with invaluable insight that will improve customer relationships and allow us to meet changing demands with greater ease and speed.

And as we widen our perspective, based on the principles of resilience management and planning, I would like to encourage CSA members to expand their ambitions by thinking big. An integral part of being resilient is to keep an open mind to the world of possibilities and break free from the constraints imposed by thinking only in absolute terms.

It is certainly not beyond us to export our business practices, develop the next global business organization, command half of the worldwide cruise passenger market share or even serve as the hub for the Americas.

Disaster mitigation

With the 1 June start of the Atlantic hurricane season only a short time away, the idea of resilience is exceedingly relevant to mitigate the shocks of natural disasters. Strengthening our collective resilience in the face of extreme weather events is a goal that demands our most earnest consideration and action. Additionally, learning from the harsh lessons of the past and adequately positioning ourselves to respond and adapt to the changing climate and the recurring threat of hurricanes should be a top priority. We must be committed to playing our role in preventing natural disasters from undermining the region’s hard-won progress.

CSEC conference

I would like to take this opportunity to invite you to learn more about resilience and other pertinent topics affecting the shipping industry at this year’s CSA 18th Caribbean Shipping Executives’ Conference (CSEC), being held in Jamaica’s vibrant and culturally rich capital city of Kingston at the Jamaica Pegasus Hotel on 20 and 21 May.

The event will feature informative and thought-provoking sessions on the ‘Architecture of Sustainability and Resilience’ and ‘Emergency Response Plan for Caribbean Ports’. Also high on the conference agenda is a presentation on the excellent work being carried out by the Caribbean Marine Environment Protection Association (CARIBMEPA) as well as the signing of a resolution.

Other issues slated for discussion include the digital architecture of moving freight, branding, cyber security, managing human resources and organizational change.

SAJ 80th anniversary

In closing, I would like to express the CSA’s absolute pride in partnering with the Shipping Association of Jamaica for this year’s staging of CSEC, particularly as it celebrates the significant milestone of its 80th anniversary. As you already know, the SAJ played a seminal role in the inception of the CSA and continues to play a tremendous role in our growth and development.

The SAJ’s exemplary performance through the years and high standard of excellence can be traced back to its early roots in labor relations and is reflected today in the modernization of the Port of Kingston. The reforms ushered in by the organization have served as a model for many territories in the region and it continues to demonstrate influential leadership in the areas of management and innovation.

I look forward to the informative and productive sessions in Jamaica, some of which will showcase the technological advancements and operational efficiencies achieved by the SAJ. I also look forward to the sharing of ideas and hope to see you in the beautiful city of Kingston at CSEC 2019.

Juan Carlos Croston
President
Caribbean Shipping Association