Sea Asia 2011 Opening Sessions in Singapore Today

Tuesday, April 12, 2011

Focus on the Bulk Sectors – Facing a Crisis or Ample Opportunities?

The Sea Asia conference focused on the bulk markets this afternoon with a lively debate among panelists on where the tanker and dry bulk shipping markets are heading.

The session was the highlight of the afternoon’s proceedings which followed on from the opening session on container market trades this morning.

The show, which articulates the Voice of the Asian maritime communities, has captured the imagination of the global shipping community. It was officially opened by Singapore’s Deputy Prime Minister and Minister of Defense, Mr Teo Chee Hean.

As the conference ended its first day, Sea Asia organisers reported that 687 delegates from 33 countries had participated in the conference sessions, a figure that already exceeds the total number from three days at the previous show in 2009.

More than 12,000 people are expected to attend the Sea Asia conference and exhibition, which occupies 13,600 sq m of gross space at Marina Bay Sands Expo and Convention Centre. It has more than 6,200 sq m of net used space in an exhibition booked by 340 maritime and shipping businesses from 40 countries. There are seven country pavilions from China, Japan, Norway, Panama, Singapore, Turkey and the UK.

Seatrade said day one of Sea Asia had exceeded expectations both in terms of the number of people coming to the show and the feedback that had been received from exhibitors and visitors alike.

The bulk session, which featured a senior line-up of panelists including Yudhishthir Khatau, vice chairman and managing director of Varun Shipping (who chaired the session), Morten Arntzen, President and CEO of Overseas Shipholding Group (OSG), John Brunton, global director of market analysis at Cargill Energy Transportation and Industrial, Kenneth Koo, group chairman and CEO,TCC Group, Klaus Nyborg, CEO of Pacific Basin Shipping and Dr Kyuho Whang, President and CEO, SK Shipping.

Delegates listened to the panel as they went on a tour of the tanker and dry bulk markets and the session produced some contrarian views.

While most of his fellow panelists warned of uncertain times ahead in both the dry bulk sector and most areas of the tanker market, OSG’s Mr Arntzen took a different viewpoint.

He noted the tanker market was difficult to ‘call’ at the best of times and one of the key factors in recent times had been the sheer level of unpredictability in the sector.

A series of what he termed ‘wild cards’ could determine how the tanker sector pans out for the rest of this year and into 2012. And he added that several of these ‘Wild Cards’ could have a positive outcome for the market and for the owners of tankers.

Sea Asia, which is co-organised by Seatrade and the Singapore Maritime Foundation, has established itself as the leading international maritime show for Asia since it was launched in 2007.

Source: Sea Asia

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Shipbuilding

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3199 sec (3 req/sec)