MEDIA BULLETIN SEA ASIA GLOBAL FORUM 9 April 2019, 11am 12:30pm Caption (left to right): Mr Søren Toft, Member of the Executive Board and Chief Operating Officer at A.P Møller Mærsk A/S, Mr Andreas Sohmen-Pao, Chairman of BW Group and Chairman of Singapore Maritime Foundation, Mr Erck Rickmers, Chairman of E.R. Capital, Mr Tan Chong Meng, Group Chief Executive Officer at PSA International, and Mr Teymoor Nabili, Journalist, Broadcaster and Managing Editor at TheSignal.asia. Today s opening session of the Sea Asia 2019 conference, the Sea Asia Global Forum, featured discussions on key issues facing the maritime industry, with veteran leaders representing both ship owners and cargo interests on the panel. The panel consisted of: Mr Erck Rickmers, Chairman of E.R. Capital; Mr Andreas Sohmen-Pao, Chairman of BW Group and Chairman of Singapore Maritime Foundation; Mr Tan Chong Meng, Group Chief Executive Officer at 10 Kallang Avenue, #09-16 Aperia Tower 2 Singapore 339510 T +65 6233 6688 F +65 6233 6633 www.sea-asia.com Sea Asia Singapore Pte Ltd Co. Reg No. 201119305K 1
PSA International; and, Mr Søren Toft, Member of the Executive Board and Chief Operating Officer at A.P Møller Mærsk A/S. Moderated by Teymoor Nabili, Journalist, Broadcaster and Managing Editor at TheSignal.asia, the panel discussed both the short and long term outlook for the industry noting the recent and continuing pace of change in an evolving and uncertain economic environment, the adoption of new technologies, and a need to adapt operations for a more sustainable future. While this uncertainty was acknowledged by the panel, Mr Sohmen-Pao provided a positive view, highlighting that maritime industry s importance has never been greater. Pointing to China s growth, his view is that there remains a significant opportunity for the industry to continue to thrive, as demand for the supply of goods globally continues to increase. Broadly, the panellists see the IMO 2020 regulations as a positive step change for the industry but acknowledge that more detail is required to understand how they will be overseen. In this context, the panellists also canvassed the potential for a carbon tax. Mr Toft, Mr Sohmen-Pao and Mr Tan agreed that a carbon tax is an important step to encourage the industry to address climate change. Mr Tan stressed that any tax needs to be applied to all players in order for the industry to remain competitive and fair for all. Mr Toft added that it is important for the industry to invest for the future and one way to do this is to channel revenues into R&D to address decarbonisation in shipping. While the maritime industry is largely seen as lagging behind in adopting new technology, Mr Rickmers said that it is ready to adopt change. While it may take a little more time, he is positive that the shipping industry will become as digitised as other sectors. The opportunities presented by digitisation was discussed, namely the ability for technology to improve communication between shore workers and sea farers, as highlighted by Mr Toft, who said the use of sensors on ships enables the teams to work together to optimise operations. Digitisation also provides huge potential for the industry to more easily and efficiently increase volumes of trade globally. The panellists also assessed whether the maritime workforce can keep up with the adoption of these technologies. In response, Mr Tan highlighted the 2
favourable opportunities in the maritime space, as companies like PSA invest in their workforce to better prepare and equip them with multiple skillsets, pointing to the vital role of the person that sits behind the technology. The Forum concluded that it is imperative for companies, regardless of their role within the industry, to focus on customers needs. Mr Toft said that with the uncertain economic environment and current pace of industry change, businesses need to be customer-centric to better deliver their solutions, while remaining relevant to future supply chains. Caption: Mr Søren Toft, Member of the Executive Board and Chief Operating Officer at A.P Møller Mærsk A/S, sharing his thoughts on the key issues facing the maritime industry with the panellists and audience during the Sea Asia Global Forum. - ENDS - The Sea Asia Media Bulletin will be disseminated after the conclusion of each conference session from today till 11 April. More information of the sessions can be found at: https://www.sea-asia.com/conference/conference-programme 3
For more information, please contact: Andy Lim Email: andy.lim@baldwinboyle.com Mobile: +65 8533 5234 DID: +65 6239 4109 Notes to Editors About UBM Sea Asia is organised by UBM, which in June 2018 combined with Informa PLC to become a leading B2B information services group and the largest B2B Events organiser in the world. Please visit www.ubm.com/singapore for more information about our presence in Singapore. *** About Singapore Maritime Foundation Established in 2004, the Singapore Maritime Foundation (SMF) is a private sector-led organisation that seeks to develop and promote Singapore as an International Maritime Centre (IMC). As the representative voice for the commercial players of the maritime industry, SMF seeks to forge strong partnerships with the public and private sectors of the maritime industry. SMF spearheads initiatives to promote the diverse clusters of the maritime industry in Singapore and at international frontiers, and to attract young talents to join the sector. SMF is directed by its Board of Directors which comprises prominent leaders in the Singapore maritime community. For details, visit www.smf.com.sg. *** Sea Asia 2019 is held in conjunction with the Singapore Maritime Week 2019 (SMW). SMW is the leading maritime event in Singapore driven by the Maritime and Port Authority of Singapore. SMW gathers the international maritime community in Singapore for a week of conferences, dialogues, exhibitions and social events in celebration of all things maritime. These events reflect the vibrancy and diversity of Singapore as a major international maritime centre. About the Singapore Maritime Week 2019 (6 12 April 2019) Singapore Maritime Week (SMW) is one of the world s leading maritime shows and is organised annually and driven by the Maritime and Port Authority of Singapore (MPA). Every year, SMW gathers the international maritime community for a week of 4
flagship conferences, dialogues, exhibitions and social events in celebration of all things maritime. The range of activities and events organised by MPA, industry stakeholders and research and educational institutions, as well as the cosmopolitan profile of participants, reflects the vibrancy and diversity of Singapore as a global hub port and leading international maritime centre. 5