Singapore: With container shipping approaching record low freight rates on the transpacific and Asia-Europe, the Baltic Dry Index down more than 60% this year and fuel costs triple what they were two years ago the shipping industry urgently needs to reassess how is operates in this new paradigm. This is made even more pressing with the environmentalists and the media turning their attention to shipping's greenhouse gas contributions.
With record orderbooks there is also growing concern that there will not be enough officers to staff the slew of highly expensive new ships. How to look after your crew, how to cut fuel usage and remain profitable in these trying times form part of the keenly anticipated Seatrade Sustainability Seminar to be held during Singapore's Maritime Week on October 14 on the top floor of PSA Tower. The half-day seminar, sponsored by Lloyd's Register, sees some of the best known names in shipping come together for a roundtable debate that will tackle many of the future hot issues for the maritime sector.
Shipping might have been slower than other industries to embrace the concept of corporate social responsibility but a number of top firms are literally streets ahead. One such enlightened company, BW Group, will be participating in the form of Andreas Sohmen-Pao, managing director of BW Shipping.
"The first step of CSR is being responsible in one's own business, and operating ethically and conscientiously," he said in the run up to the Seatrade Sustainability Seminar. "Going further into the realm of philanthropy, should companies be giving out of charity or business interest? Should this be done at the corporate or shareholder level?
"Should businesses fulfill needs that governments are failing to meet? These are some of the issues surrounding CSR that I look forward to discussing with my fellow panelists at the Seatrade Sustainability Seminar."
Delegates will also get to hear advice from the sustainability development manager of the world's most sustainable transport firm, Hong Kong's Mass Transit Railway.
There are just a few places remaining at this highlight of Singapore's Maritime Week.
For more information go to www.seatradeasia-online.com/sustainability/
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