Managing Risks

Paper prepared by Jean Richards of Fairwind Shipping Ltd for the International Marketing Strategies Conference, “Navigating to the Top”, held in Washington, DC, on Thursday October 16th 1997.

Cash is King
Managing risk in the shipping industry should be and is no different than managing risk in any other business – it is essentially the control and management of cash. I learned a long time ago, when I worked as Strategic Planning Manager for Gotaas Larsen, the fundamentals of cash control. Gotaas Larsen correctly placed the emphasis on cash in the early 80s and this approach should not be varied whatever the market or the size of the company.

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