Europort Industry Leader - Aysu Gurgan
In the final instalment of our #Europort industry leaders’ series, we speak to Aysu Gurgan, Founder and Managing Partner of Aqua Chartering.
Transporting over 80% of world trade by volume, shipping is heavily exposed to market volatility, geopolitics and global regulation. With Europort 2025 set to provide a focus for the initiatives, innovations and strategies that can help the maritime industries meet their many challenges, Aysu shares experiences from the sharp end of shipbroking and offers advice on how to adapt to a fast-changing world.
What attracted you to the maritime industry and how did you get started?
The maritime industry has always fascinated me, and I had the privilege of studying Maritime Business and Management at the most prestigious University in Türkiye. I had a vision of what I wanted to do - to have my own business - and at school I was able to set goals that matched my nature. I believe matching academia with your interests and strengths is one way to guarantee a successful career, as the pressure and the feeling that this is work fades, and the job starts to feel more like a hobby - to an extent ?
Over the last few years, there has been an industry wide drive focused on attracting the next generation. Is there anything else your sector should be doing to attract new talent?
In order to work with younger people you need to understand them. This is the most difficult part because they have grown up in a different world from previous generations. For example, computer skills used to be considered a bonus - in the digital era, they need to be second nature. Without understanding what the next generation are capable of and what their expectations are, it’s impossible to motivate them and help them find their place. Younger generations have been raised to be more individualistic compared to even our generation, which in some cases makes them find teamwork more difficult - I don’t blame them in any way, but we need to learn how to embrace their fierce independence and be open to new ideas. They were raised under difficult circumstances and covid is only one of the more recent examples.
It’s a different world right now, but the next generation also has the will and ability to see the bigger picture. They are well aware of their strengths and are eager to learn and develop these further. If you position them well, they will rise and shine but there is no point in trying to put a square peg in a round hole. The social side of shipping and the opportunity to travel the world are motivators, but perhaps we need to accept that career expectations have changed, and they want to have a better work-life balance.
What is the best piece of advice you have been given over the years, and what advice would you give to someone considering a career in our industry?
"Money does not build reputation, but reputation will help you build an empire.”Those who choose this industry just for a good income will probably end up feeling like well-paid slaves. This is an industry that requires real love and devotion..
In your opinion, what is the biggest challenge for the industry at the moment when it comes to the ship broking business? How could this be overcome?
One of the biggest challenges is that there are conflicts involving more than three continents at the moment, and a sanctions regime which in many circumstances brings in overnight changes that we must adapt and adhere to. As a result, the nature of our business is now very different to what we were previously used to, and we have had to find other ways to overcome challenges. I’ve found that sometimes overcoming a situation is not about trying to change the situation but about looking at it from a different perspective and with an open mind.
What is the most interesting change/trend you have seen over the last 12 months, and what impact will this have on the wider industry?
One development to watch will be how Chinese shipowners develop their expansion strategies because this could have a major impact on the world economy - let alone shipping itself.
The USA’s decision to impose significant port fees and service charges on Chinese-built ships and operators had an immediate impact on the freight market. As a result, Chinese built/operated vessels are likely to become less attractive options for cargoes exported to the USA. In my opinion, though, it will be US producers and exporters who end up paying - in freight rates that are so much higher that they create a disadvantage in the global market.
From what we’ve seen in recent years, Chinese interests operate on the precautionary principle: they mitigate their risks for worst case scenarios. In the current climate, we are seeing the Chinese fleet expanding operations in other markets - particularly in Europe. At the same time, the Chinese fleet is getting younger and technical performance is continuously improving.
In my opinion, solving complex issues demands co-operation - this is an era when striking the right balance between competition and co-operation is critical.
Finally, new technology, digitalisation and AI continue to transform operations and ways of working. What impact is this having on ship broking and chartering?
Those of us who learn to make peace with and start co-operating with AI will be part of the winning team in this industry. AI is amazing; it’s a tool that we can all benefit from today, while it collects data for tomorrow. At the same time, everyone is worried about being replaced by AI in the short-term, and some of them are right to worry. Low quality service, and tasks that require less effort will be replaced by AI in a couple of years. Some companies have already started to outsource some of their operations with AI - for example, financial services have been using AI for quite some time now.