Page 70: of Maritime Reporter Magazine (November 2019)

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Chevron Shipping & Unlocking the Value of Flag

Photo: Chevron hoosing which Flag to register ment to ‘doing the right thing’. some commercial shipping companies’ to minimize risk requires partnering your ships with is not a deci- Herron has seen ? rst-hand how sail- choice of ? ag, it’s not enough for Chev- with a ? ag that plays an active role in sion to be taken lightly. More ing under the right ? ag can help ship- ron Shipping. shaping global regulations at the Inter-

Cand more, shipowners are de- ping companies make decisions that lead The business of transporting oil for national Maritime Organization (IMO), manding high levels of standards from to long-term success. Low taxes and low Chevron is not motivated solely by mon- by providing guidance to help ships meet the Flag in order to protect and manage expectations have helped make some ey. Risk, instead of pro? t, is Chevron’s shared standards. “Whenever we’ve had their own operational, commercial and open registries popular in the competi- main concern — each decision is evalu- any issues, we’ve always found the BMA reputational risks. tive maritime market but choosing a ? ag ated in terms of managing operational open to dialogue and open to addressing Chevron Shipping Company’s Gen- for ? nancial reasons can be a mistake. risk, commercial risk, and perhaps most issues in a responsible way. It’s one thing eral Manager of Fleet Operations, Steve Herron – who hails from Scotland - start- importantly, reputational risk. to say they’re business friendly, it’s an-

Herron, believes that choosing a Flag ed sailing with Chevron after complet- As Herron explains, building a solid other to say they understand the business purely for ? nancial reasons has no place ing his cadetship with BP in 1984. Since reputation can take decades, but losing we’re in,” said Herron in today’s shipping market. joining Chevron 30 years ago, Herron a reputation can happen overnight, mak-

Drawing on the company’s collabo- has moved to sunny California where he ing risk management the primary role of

Raising the BMA ration with the Bahamas Maritime Au- is General Manager of Fleet Operations. Chevron Shipping: “As a shipping com- thority (BMA) over the past 25+ years, As a Shipping industry veteran, Her- pany that is part of an oil company, our Open dialogue between Chevron and

Herron highlights the importance of ron has seen his fair share of operators primary role is managing marine risk, the BMA not only helps ensure align- working with a Flag that not only has using ? ags for ? nancial bene? ts. While our secondary role is transporting oil.” ment of shared values and expectations, shared values and goals but a commit- cost savings might be enough reason for Upholding the high standards needed it also helps the ? eet continue to improve 70 Maritime Reporter & Engineering News • NOVEMBER 2019

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