Norwegian Seminar to Focus on Financing, Procurement

The challenges of managing efficient procurement  processes and getting the right funding in the shipping and offshore sectors is the topic for a major half day conference in Singapore later this month.

Coinciding with the Asia Pacific Maritime (APM) event on March 20, the Norwegian Procurement and Finance seminar is aimed at operators seeking to build vessels, capital goods or services within the shipping and offshore industries, or Norwegian exporters in these fields.

The session will also see the release of a major report into procurement processes in Asia which was commissioned by the Norwegian Oil and Gas Partners (INTSOK) organization. The main findings will be revealed at the event.

Delegates will also have the chance to meet representatives from Export Credit Norway and the Norwegian Institute for Export Credits (GIEK), the fund and risk taking arms in Norway’s export financing system respectively.

To be held on level three of the Marina Bay Sands Convention Centre on March 20, the speakers include representatives from INTSOK, DNB Bank, leading Singapore shipyards, BW Offshore and Rolls Royce.

They will share real life case studies of how the Norwegian Partnership has been particularly valuable for buyers looking for a smooth and cost effective procurement process as well as access to quality, easily accessible funding arrangements.

The organizers have invited locally based procurement managers from yards and owners for the event. They know that in such challenging times for the industry, having a world-class procurement organization and finance arrangements provides crucial advantage.

The conference will address financing concerns and discuss alternative financing options such as export credit agencies for funding.

Norwegian Ambassador to Singapore, Tormod C. Endresen said,  “This event follows closely on from another ground-breaking development last year when Singapore was accepted into the Arctic Council. Developments in the Arctic present the maritime and offshore industries a multitude of business opportunities waiting to be tapped; evident in the growing demand for ice class vessels which are contracted and built in Singapore yards.

“This conference will serve to match procurement leaders to reliable suppliers for future projects and to sweeten the deal – we also have the financing solutions necessary to kick-start this process.”

The Norwegian Procurement & Finance Day 2014 is part of a wider maritime focus at the Norway Pavilion at the Asia Pacific Maritime (APM) 2014 which will be supported by 30 companies, one of the largest overseas delegations to the trade show.

APM is also hosting a Norwegian Maritime Forum for interested parties. Egil Rensvik, Science and Technology Counselor from the Royal Norwegian Embassy, Singapore & Innovation Norway, will give a free-to-attend presentation on New Technological Solutions for Green Shipping which will be held on the morning of 20 March.

These events will showcase Norway’s strengths and capabilities in the industry – ranging from know-how in environmentally sound practices to efficient procurement processes, to alternative financing.

Running alongside the Norwegian Procurement and Finance day (20 March 2014) at the same venue is the Asia Pacific Maritime 2014 which runs from 19 – 21 March 2014 and is held on Level 1 and Basement 2 of the Marina Bay Sands Conference and Exhibition hall. The Norwegian Procurement and Finance Day is on level three.