From the President -   February 2010

The economic recession is still impacting many parts of members' work.

Last year we discussed this at various IMCA events: the annual seminar learnt that Petrobras had decided positively to invest at this time because it was the right time for it, its supply chain and the Brazilian economy; our Europe & Africa section meeting in September discussed 'the role of a trade association in challenging times'; and our North America section joined with consultants Deloitte to host a forum on 'Our Journey to Recovery: The Human Capital Challenge' in November, which discussed the actions of oil majors and contractors during this strained period and the likely difficulties ahead when the industry recovers. In each case IMCA played its role as a facilitator for dialogue which we hope is beneficial for all parties.

The Association has not been immune to the effects of the recession – a few members have resigned and/or disappeared – yet the overall membership picture is rosy. Against this economic challenge membership rose by about 18%. We are not out of the woods yet but interest in IMCA carries on at a positive pace and we are grateful to members in all corners of the world who continue to promote IMCA membership. IMCA itself will continue to develop its ability to serve its members and to promote their interests. Companies often make the most of recessions in helping them to make tough decisions and in some cases change structurally. Words such as downsizing, re-allocation and natural wastage can be used cynically to hide simple lay-ups and lay-offs, but these actions can also create a better structure to arise like the Phoenix from the ashes. Our industry is so diverse and long-term that some parts may still be on the decline when others are already seeing the green shoots of recovery. However, a healthy industry would be busy and profitable in all sectors, so we applaud those that continue to invest in new projects in the downturn and encourage others to follow suit.

At the same time as the industry restructures for the future, IMCA is also doing this itself. This year will see the separated North and (new) Central & South America sections settling in, the Association growing into its new office and some new staff in the secretariat. The Association wants to be ready for the upturn too.

Johan Rasmussen, Acergy
IMCA President 2010