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NEWS

“The current cycle we are energy sources continues to rise, hence
experiencing is a ‘new normal’ providing an opportunity for growth in the

that the industry has to adapt ofshore industry.” Additionally, Mr Teo

to, and businesses can do so Siong Seng and David Carbon concurred
that China’s “One Belt, One Road” initiative
efectively through innovation
and transformation.”will provide opportunities for industry

players in Singapore and rest of Asia.”
Mr Teo Siong Seng, Managing Director The issue of Smart Ships also
Paciic International Lines (Pte) Ltd.
featured strongly during the week with

the Singapore Maritime Institute (SMI)

slowing economy, Asia continues to Seminar on Smart Ships exploring cutting-
display strong performance. In the late edge research and technology for the

2000s, the continent was only able to maritime industry as it sets its vision

match the economic growth of a major to usher in a new era of shipping and
European country every four years. Today, sustainability for a future-ready Maritime

the timeframe has been shortened to Singapore.

three years, and we expect this will further Keynote Speaker Mr Esben Poulsson,
shorten to two years.”President of the Singapore Shipping

In the face of economic uncertainty, Association, addressed the audience

the Singapore Maritime Lecture panellists comprising senior shipping executives
shared knowledge on how industry players

can navigate through challenging times.

Mr Teo Siong Seng said: “The current cycle decades, told delegates: “The global

we are experiencing is a ‘new normal’economic environment we operate in
that the industry has to adapt to, and 12 |today is challenging, and over-building

businesses can do so efectively through of rigs and ships in the early 2000s has

innovation and transformation.”led to imbalances in supply. However,
Beyond tackling present-day issues, the ofshore industry continues to

the two-hour forum also shed light on new hold a bright future, and with the right
Inaugural Maritime
opportunities that the maritime sector leadership, we will be able to steer through
can take advantage of. Mr Siem stressed: Administrators’ Forumthe dark tunnel.”

“Global demand for oil and gas as primaryDavid Carbon added: “Despite its

MPA Academy organised the Inaugural

Maritime Authorities Forum in line
with the IMO theme of “Shipping: Ofshore Rig & Vessel Connect Asia brings four Tracks

Indispensable to the World”. This theme under one roof

highlighted the importance of shipping
and raised awareness on shipping’s role Bringing together tracks on OSV & Subsea Vessels, Ofshore Accommodation &

in supporting and sustaining today’s Access, FPSO and Ofshore Drilling Rigs, the Ofshore Vessel & Rig Connect Asia

global society, with its inluence far conference was well-attended at the Marina Bay Sands by international and Asian
beyond the industry itself.delegates.

The forum included twoKey speakers featured include Venkatraman Sheshashayee, CEO of Miclyn

sessions: (i) Indispensable Shipping: Express Ofshore, Arnstein Eknes, Segment Director of DNV GL, Sugiman Layanto,

Country Maritime Initiatives andPresident Director, Wintermar Ofshore Marine Group and Kurush Contractor,
(ii) Indispensable Shipping: Meeting CEO of Kreuz Subsea. Key topics addressed at the event included an outlook on

the Regulatory Requirements. global oil markets and the impact on the FPSO sector; adapting for survival in a

Speakers shared their insights of such challenging world from a drilling contractor’s perspective; an overview of ofshore
developments in their country and accommodation markets and inancing risks; as well as options and opportunities in

region.the low oil price environment.

WAVES | ISSUE 50