The Ocean Economy beyond shipping, fishing and tourism.

The Organisation for Economic Co-operation and Development is running a project to explore the prospects of developing an ocean based economy with particularly emphasis on emerging ocean-based industries.

The project divides the ocean economy into established marine activities and emerging activities. 

Established marine activities encompass shipping and shipbuilding, capture fisheries, traditional maritime and coastal tourism, and port facilities and handling. 

Emerging ocean-based industries include: Off-shore wind, tidal and wave energy, oil and gas extraction in deep-sea and other extreme locations; marine aquaculture; marine biotechnology; sea-bed mining for metals and minerals; ocean-related tourism and leisure activities; and ocean monitoring, control and surveillance.

The ocean economy’s long-term outlook and future contribution to global growth and jobs while managing the ocean in responsible and sustainable ways are key issues.

This project is taking a long term view to the year 2030 and will be funded by voluntary contributions by OECD members.

In a world where free trade agreements and trading blocks are now common place I am curious how the OECD will somehow view or divide the asset that is the worlds oceans beyond a country's territorial waters. Do all countries potentially share in the benefits and risks or only OECD members?

To read more on The Ocean Economy Project you can go to the OECD website.

All for now,

+Brad Skelton 

Gigonomics - The gig economy is here to stay

The global financial crisis has been the catalyst to more change in economies and the traditional way business has operated than any other single event I know of.

The reality is the market forces of globalised competition and margin pressure on companies has meant that a significant re-engineering is quietly going on. Volatility in business is now the new norm. To cope with this businesses must stay more flexible and agile than ever to manage to ride the waves successfully.

Sadly I think the days of a full time work force are numbered as this model just doesn't allow companies to compete effectively. Companies have been forced to evolve and keep costs tight by adopting "Gigonomics" and a part time/casual work force.

Gigonomics is a rapidly growing phenomenon whereby workers don't have jobs as much anymore but instead have a number of gigs with different companies to essentially derive an income equivalent to what would have once been a full time salary. Much like a rock band that relies upon stringing one gig after the other to get by. It is forecast that within ten years up to 50% of any company's team will be gigonomes.

Gigonomes are mostly contractors and consultants. They are currently mostly professionals or technical people but the trend is organically spreading into all types of roles. This group of people actually choose to work harder and frequently earn more than a traditional full time role would have typically once paid them.

Unlike their parents who are more used to the previously more secure corporate structures of 70's an 80's, Gen Y wants the freedom and are pretty comfortable with the gigonomics concept. For companies this helps them keep operating costs down and makes them more globally competitive. 

It will be a driver of innovation and the traditional foundations stones of big business weighed down with big overheads that prevent them from moving quickly will soon start to be shaken by the growing numbers gigonomes and freelancers out-maneuvering them.

Gigonomics is a win for companies and a win for the modern worker that is willing to back themselves and is here to stay.

All for now,

+Brad Skelton 

So you want to be a high performer?

The high achievers in business, the arts, sport, family life or any other pursuit realise the value of one important commodity ahead of all others.

This is a commodity that nobody gets more or less of than anybody else and it is free to us all.

I am talking about "Time".

We all get 168 hours per week so how is it that some people achieve more than others in any given week, month, year or lifetime? The person that gets the best results almost always is using time more effectively than anybody else. In other words they invest more in the time they have available and invest with greater intensity. 

So how do they do that?

Firstly...they know time is precious and finite for us all so they rarely waste it on trivial things. Once that time is gone or that moment passes it doesn't come back again so they make the most of it right there and then.

High achievers are nearly always very effective at delegation because they know by doing this they can invest more time into their top priorities. In other words...to be a high performer they must outsource the small stuff to open more time to focus on the big stuff. It's not optional.

The same goes for business. In any given week if your team has more time to focus on the companies biggest goals then it stands to reason you will beat your competitors and be more successful. Although it's become a bit of cliche I firmly believe that you shouldn't sweat the small stuff. Outsource it cost effectively so your team is focused on more important and dollar productive activity.

I am not advocating you become a complete workaholic. You still need to rest to rejuvenate yourself. It's just about finding the balance of rest (not laziness) versus work so you can perform at your best in the time you create. Top athletes and even race horses need to be rested so they can go harder when it counts. We are no different.

Pressure makes diamonds so I believe in creating this pressure by pushing yourself outside your comfort zone continually.

All for now,

+Brad Skelton 

We go deeper!

I created Depth Industries to help our customers in the new truly globalised economy where the internet & modern cargo transportation have radically changed the competitive landscape forever.

We understand that increasingly most industries are becoming commoditised so delivering our customers the service they need at world best prices is the key to our own success. To enable us to do this we have adopted the latest Cloud based technologies and lean business overhead models ourselves. 

Distance doesn't matter anymore so Depth Industries businesses aim to support our clients in conquering their chosen market not just at home, but internationally from wherever they are in the world by deeply understanding their needs and delivering on them.

To do this a few of the key things any business needs today are:

- Competitive International shipping and freight forwarding services.

- A global workforce paid at internationally competitive rates.

- Capital to grow.

That's why Depth Industries operates these companies:-

Depth Logistics is the choice of heavy industry in shipping and consulting on moving project and heavy cargo all over the planet for companies involved in earth moving, mining, construction, petrochemical and energy production related industries.

Depth Offshore is an offshore outsourcing facilitation business helping companies save money by accessing a global workforce. With internet technologies there is virtually no limit to the business tasks that can be easily and successfully outsourced offshore with our help. Savings up to 75% of a comparable western country salary can be achieved. Offshoring tasks is now one of the key enablers in high performance organisations.

Depth Global is a venture capital firm specialising in early stage start up companies run by passionate entrepreneurs playing by the new global economy rules.

+Depth Industries  can be followed on Google+ for access to special offers, deals and business insights.

I hope that Depth can be of service to you and your business soon. We would be very grateful for any opportunities you give us.

Deep enough for now,

+Brad Skelton 

What's next for The Shipping Bloke?

Sadly, in January Skelton Sherborne’s creditors voted to liquidate and wind up the company and this process is now well advanced.

I made the liquidators, S.V.Partners, aware that I had lodged a complaint(#306016 dated 23 November, 2012) with the Government Financial Ombudsmen Service about HSBC's harsh treatment of Skelton Sherborne. Without representation, and at my own expense, I am vigorously pursuing compensation for the company and I am currently awaiting the Ombudsmen's advice as to when the matter will be mediated. 

I tabled all the evidence I have about HSBC's actions to the liquidators and they have authorised me to pursue this action on behalf of the company and it's creditors. They have instructed me to keep them abreast of the progress of the complaint. Should any financial compensation be awarded by the Financial Ombudsmen then this goes to liquidators for distribution to the creditors and not myself. While I sincerely appreciate the Financial Ombudsmen advancing this matter, the pace of it's progress was not quick enough to save Skelton Sherborne from liquidation and the associated fallout for innocent people.

As I indicated in my previous post I am absolutely determined to bounce back from this setback. It is early days but I am rebounding now thanks to some great personal and professional support I have received from many people who believe in me.

So here is the venture I have been developing the past few months and I am pleased to formally announce the launch of....

While I will always be very involved in shipping and international heavy logistics, I have launched some exciting new ventures under the Depth Industries umbrella in different fields. So this will be the final post from "The Shipping Bloke" as I have a fresh new blog and updated personal website in line with these new pursuits.

In the future I will be expressing my thoughts not just about shipping but all kinds of business related ideas and issues according to the new rules of this now truly globalised economy.

Click on this link to check the new blog out, subscribe and go deeper into Depth Industries.

I have been humbled by the following The Shipping Blokes Blog has enjoyed and I hope you will follow me over to the new blog and that Depth Industries can be of service to you soon. We would be very grateful for any opportunity to help you.

Thank you and see you there!

+Brad Skelton

The Shipping Bloke

The adversity paradox

The Christmas break has given me time for some introspection and to reflect on 2012 and it's highs and lows and the lessons learned. This year's adversity has tested me on all levels like no other year has before. I have survived and am more life and business savvy than ever.

The adversity I am facing right now, while very painful and something preferable to avoid, I am certain will actually be my making. I feel more equipped and battle-hardened than ever to accomplish extraordinary things personally and professionally. Therein lies the adversity paradox.

The concept of an "adversity paradox" was something that I learned while at MIT University undertaking the Birthing of Giants(BOG) programme. BOG was founded by my friend and mentor Verne Harnish and has been responsible for developing some amazing self-made entrepreneurs over the years. I graduated in 2004 and still regularly review my notes when I am developing ideas. I also frequently bounce things off my classmates to gain greater global perspectives. The lecturer that spoke to our class about the adversity paradox was J. Barry Griswell. He is a man that has overcome tremendous adversity and wrote and talked about the power of it in putting many of mankind's greatest achievers on incredible success trajectories in all fields of endeavour. These people consciously chose not to be a victim but instead to use the adversity as a source of strength to fuel their pursuit of greater goals. 

So how has adversity changed me and set me up for what's next? 

For starters I will continue to do my best for the people that have been hurt by what happened to Skelton Sherborne. I acknowledge adversity I have suffered has caused adversity for others which I am sincerely sorry for.

Apart from that responsibility the slate has basically been wiped clean and I have the opportunity to rebuild my life and future business model exactly the way it needs to be. I have much more clarity how to do this, what's most important, and who I want with me and who I don't. No victims, princesses or people wanting a free lunch allowed! I know who my friends REALLY are now by who stood by me and who didn't. I will be using the word "No" much more in all aspects of my life to preserve my energy for my main priorities.

The perspective I have gained will be invaluable. When you have endured the adversity and pain I have there isn't anything or anybody who can deliver you more of it than you already have experienced. As a result I am more resilient, resourceful, fearless(not reckless) and tenacious than ever. All I see now is opportunity and upside. The entrepreneurial passion and spirit is starting to flow freely again for the first time in about 3 years. The hunger is back and I am relishing the challenge.

There is no shortage of challenges to overcome. The business environment has changed and will keep changing faster constantly. The swing back to the East from the West is well underway even though some people in the West prefer to be in denial about it. In a truly global economy the West can no longer compete with it's high labor costs and high debt compared to the East. The internet combined with fast and modern shipping methods have enabled global competition. It's no longer a concept it's a reality and this is what is really driving change in the global economy.

The power in a sales transaction has shifted too. It now rests with the buyer, not the seller as it previously did. This is the new landscape and there is no doubt in my mind that it is here to stay and we are going to see many great companies' business models, particularly in the West, being challenged and many of them will fall by the wayside and whole industries will disappear.

I was talking to one of my Canadian BOG classmates about a week ago who pointed out to me that most people who are not business owners themselves view business like they do a game of football that you either win or lose. He said that it isn't like that at all because in a game of football there is a full time siren. In business it is never full time as the game goes on and on with no real end or respite. You have to constantly make the best of every situation, adapt, re-invent and keep your work rate higher than the competition to stay ahead of them. He is finding his business model being challenged by the new global economy and when he looks back over the last 15 years he says 13 of them were great and only 2 have been bad so the scoreboard is okay and he has received tremendous personal satisfaction in creating opportunity and prosperity for his people and all other stakeholders in his business for the risks he has taken. It's not about the money to him either.

As we head into 2013 I can't help thinking that the number 13 is considered unlucky by some people. It's not unlucky from where I am sitting right now and I think it will be a great year of re-invention, opportunity and proving J.Barry Griswell's adversity paradox theory.

All for now,

Brad Skelton

We lost our battle.

Sadly I have had to appoint a liquidator to Skelton Sherborne this afternoon.

The Deloitte receivership conducted on behalf of HSBC has been catastrophic to the company's future viability. Despite the great efforts of my amazing team to save the company post the receivership, we deemed it could not be successfully salvaged while the bank accounts, debtor book and statutory refunds were kept under the control of Deloitte. Effectively Skelton Sherborne's cash flow was cut off and as a consequence the company became insolvent. As a director I was compelled to appoint a liquidator.

Therefore Anne Meagher and Terry Rose of SV Partners have been appointed and will proceed to wind up the company. I am no longer in charge of the company's affairs. SV Partners office phone number is +61 7 33102000. They will soon be in touch with all clients and creditors.

I know many of our clients have been hurt and inconvenienced by what has occurred with Skelton Sherborne these past two weeks. I am sorry that we were not in a position while Deloitte were in charge to achieve the right outcomes for you with your cargo. For any clients with cargo stored with us at our Brisbane Terminal, we ask that you make arrangements to promptly collect it. There will be a skeleton staff staying on with the company to assist you and the liquidators for a short time with this and to help clients with cargo still on the water.

To my crew. Thank you! You have been awesome and I am shattered for you and your families that this company could not survive. The loss of your jobs so close to Christmas is dreadful. I am so sorry! I think we can honestly say we did our level best though. The professionalism and commitment you have displayed to our clients, suppliers and each other in very challenging circumstances has been truly inspirational and helped keep me going and fighting hard everyday. I am deeply touched that such was your determination for this great company to survive that you all volunteered your time and expertise these past two days without pay. I could not dream of more support than this and I want everyone to know what you did. I am sorry I have let you down in the end.

I am in disbelief that such a good and profitable company with a great track record can lose the support of it's bankers and end up in this position with so many innocent people hurt along the way. I am sorry to the people Skelton Sherborne owes money to and any hardship this has already caused you and may in the future as the liquidation proceeds.

Thank you for the tremendous support the team and I received from so many people.

This is a setback for my children and I. The five year plan just became a ten year plan I think so the job of rebuilding starts tomorrow. I will soon be back bigger, better and even smarter so stay tuned to this blog.

I'll chalk this up to another great entrepreneurial learning experience that you can't get at any university in the world. For entrepreneurs it's not about the money. It's about the journey and the best days are still to come.

All for now,

Brad Skelton

The Shipping Bloke