Seatrade Chairman Chris Hayman said these discussions marked the end of a fantastic conference and exhibition.
“We’ve just completed the fifth Sea Asia and it was the best and biggest edition yet. We had an outstanding calibre of speakers and exhibitors, many of whom play a defining role in our industry.
“I’ve no doubt that the debate and discussion we’ve seen will help shape the industry’s thinking and activity moving forward.”
A key topic of debate at the final day of Sea Asia 2015 was the consumption and transportation of LNG.
John Ng, Chief Executive Officer of the Singapore LNG Corporation Pte Ltd, said: “Asia is the growth engine for LNG demand with around 75 per cent of total LNG consumption happening in this region.
“The shale development in North America as well as the growth of the LNG market in Australia and West Africa will have a huge impact on LNG trade flows and therefore the world’s shipping markets,” he said.
Jorge L Quijano Chief Executive Officer of the Panama Canal Authority (PAC) highlighted that the Panama Canal is one shipping lane that’s preparing to manage this growth with two to three LNG vessels expected to transit through the expanded Canal every day by 2020.
Earlier this year the Authority released proposed LNG tolls to take effect following the Canal’s expansion.
Li Xiang, Deputy Director of the Transport Finance Department at the China EXIM Bank said that the trend is also helping to shape the bank’s financing decisions.
“China is importing large volumes of LNG and there will be huge potential in the coming years for the LNG market. We think LNG will be one of our priorities,” he said.
Going forward, China Exim Bank will continue to prioritise their lendings to higher technology, higher value assets such as LNG vessels, offshore vessels and eco-ships.
This focus on building ‘high-tech’ vessels is critical in enabling the industry to comply with increasingly stringent safety and environmental regulations – another key topic of discussion during Sea Asia’s final day.
International Association of Classification Societies (IACS) Chairman Philippe Donche-Gay said: "The sinking of the MOL Comfort accelerated the work of the already established IACS Working Groups to enhance and develop structural regulations concerning Post-Panamax containership.”
“These regulations are particularly important as people race to build bigger ships – a trend which can create a number of technological challenges,” he said.
Mr Hayman said he’s looking forward to continuing these important discussions at Sea Asia 2017.
“Sea Asia is a forum for leaders across the industry to look at the most pressing challenges and opportunities it’s facing and after such successful event this year, there’s no doubt that Sea Asia 2017 will be even better,” he said.
- ENDS -
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About Sea Asia
Sea Asia, an international conference and exhibition for the maritime and offshore industries, is returning for the 5th edition from 21 to 23 April 2015 at the Marina Bay Sands®, Singapore. Sea Asia serves as a focal point for both the global and local maritime communities to network, explore new businesses, and showcase the latest maritime innovations, equipment and services. Co-organised by Seatrade and the Singapore Maritime Foundation, Sea Asia is an anchor event held in conjunction with the Singapore Maritime Week and is well-attended by the most influential and respected leaders in the industry. The 3-day Sea Asia conference will bring forth the latest discussion and debates on key trends, opportunities and challenges facing the maritime industry.
Sea Asia is supported by principal sponsors Anglo-Eastern Ship Management Ltd, DP World UAE Region, Executive Ship Management, Lloyd’s Register, Neptune Orient Lines (NOL), Sohar Port & Freezone, as well as sponsors ABS, Admiralty, AXSMARINE, ClassNK, DNVGL, G Travel, Hempel, JTJB LLP, Keppel Offshore & Marine, LUKOIL Marine Lubricants, M3 Marine Group Pte Ltd, Mobil Industrial Lubricants, Pacific International Lines (Pte) Ltd, PANAMA MARITIME AUTHORITY, WORLDWIDE LEADER FLAG STATE, PSA Corporation Limited, QBE INSURANCE (INTERNATIONAL) LIMITED, ,Singtel, The Standard Club Asia Ltd, Veritas Petroleum Services, and Zamil Offshore.
For more information, please visit www.sea-asia.com.
Seatrade provides a range of global events, websites and publications that covers every aspect of the cruise and maritime industries, bringing together key people to encourage innovation and to produce powerful learning, networking and promotional platforms. Founded in 1970, Seatrade was acquired recently in 2014 by UBM, the world's second largest media and event organiser. Seatrade sits with the UBM EMEA, which connects people and creates opportunities for companies to develop new business, meet customers, launch new products, promote brands and expand markets. Operating in over 23 countries, UBM EMEA organizes many of the world's largest, most important exhibitions, conferences, awards, directories, websites and publications in a wide variety of industries.
For full details about this event, visit www.sea-asia.com. Find out more about Seatrade and UBM, visit www.seatrade-global.com/seatrade-global-information/about-seatrade.html and http://ubmemea.com.
About the 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