Stolthaven Terminals President Guy Bessant featured in the October issue of HCB Monthly, discussing the challenges faced by the petrochemical industry and its partners over the past year, and how they have responded.
Guy took part in the article as a member of the European Petrochemical Association (EPCA) Supply Chain Programme Committee, alongside fellow committee members.
The article highlights “Fluctuations in the level and location of demand resulting from Covid-related restrictions, port congestion, driver shortages...rocketing ocean freight costs and political factors” as some of the main ‘pain points’ for the industry.
And while Guy says that Stolthaven Terminals’ business “has been fairly stable over the past year” due to its limited exposure to the petroleum industry, there is a need to be on the front foot when it comes to decarbonisation and accommodating the new fuels that will emerge from that, including hydrogen and ammonia.
Significant investment will need to be made into updating infrastructure and, says Guy: “Logistics costs will need to reflect the investment needed”.
The key, he says in the article, is governments and industry working together to educate the people on the ultimate cost of being sustainable and whether people are willing to pay it.
You can read the full article on the HCB website (subscriber-only content).