The changing dynamics in the tanker spectrum have been duly reflected in the annual list of the 10 most influential figures in oil and gas shipping. On the one hand, those with large exposure to liquefied natural gas transport are generally moving up the ranks, with a firm recovery expected to take hold in the segment. On the other, falling earnings bring lower rankings for those focused on crude and product carriers. Unsurprisingly, national interests prove to be more resilient in a market downturn than commercial firms, with top executives of MISC and Sovcomflot joining our list this year. What remains unchanged is the status of Saudi Arabia, with its weight over global oil production and large national tanker fleet. Note: When determining on who shall be the 10 most powerful figures this year, our specialists gave each candidate a score of 1 to 10 in two metrics, "market weight" and "aura". Market weight refers to the general influence of the candidate's company. Aura is the so-called soft power by the candidate and his or her company; whether we feel the industry often follow the candidate's investment decisions, public calls in conferences and other behaviors. Deputy Crown Prince Mohammed bin Salman No one can deny the influence of the Organization of the Petroleum Exporting Countries, led by Saudi Arabia, on the global oil market. Equally, no one can deny how complex Opec's situation and internal workings have become. An Opec meeting in April 2016, led by Saudi Arabia, was called to discuss a production freeze among the cartel's members, amid low oil prices. Saudi Arabia's oil minister at the time, Ali al-Naimi, who was at our top spot last year, was keen to rebalance the market. He said a freeze could be possible, even without Iran's agreement. However, Saudi Arabia's deputy crown prince Mohammed bin Salman disagreed with the move, replacing Mr al-Naimi with Khalid al-Falih, chairman of national oil company Saudi Aramco. As Saudi Arabia and Opec figured out the best way forward with some non-Opec producers, an agreement to limit production in the first half of 2017 has been reached. Initial evidence shows it has been implemented pretty well. Meanwhile, tanker owners will feel the impact of a cut to oil output from Opec — likely on the negative side. The deputy crown prince holds these dynamics in his hands, hence his position among shipping's élite powerbrokers. On top of that, he oversees Saudi Arabia's plans make an initial public offering of shares in oil giant Saudi Aramco. Saudi Arabia will sell less than 5% of Aramco's shares via a partial IPO, the deputy crown prince has said. Aramco has been raising sales of crude delivered to customers in recent years, even as it does not have direct exposure to shipping. National Shipping Co of Saudi Arabia, 20% controlled by Aramco and one of the world's largest crude carriers, is tasked with transporting Saudi oil to the buyers. Also, Aramco has teamed up with Lamprell and Hyundai Heavy Industries to develop a mega yard project in Ras Al-Khair, aiming to construct rigs, offshore support vessels and commercial ships. Saudi Arabia is evidently on the cusp of major changes to its energy industry as the deputy crown prince forges ahead with modernization — changes that astute owners operating in the tanker industry would do well to monitor closely to keep a step ahead of the competition.
