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Ushering in the Year of the Goat

Over 500 shipping executives gathered at Singapore's Raffles City Convention Centre on Tuesday to celebrate the start of the Year of the Goat.

Marcus Hand, Editor

February 27, 2015

2 Min Read
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Guests of honour at the event were Singapore Transport Minister Lui Tuck Yew and Senior Minister of State, Josephine Teo.

Although an evening to network und usher in the New Year, Lui also spent some time talking about the outlook for the industry. “Looking ahead to the rest of this year, there is neither a clear upward trajectory nor a straight course for the maritime sector. Whatever optimism that we can look to, is not going to be a result of increased rates.

goat2.jpgRather, it is likely to come from lower costs and we can continue to persevere in this direction. While some have benefitted from the lower bunker cost, others in the offshore and dry bulk sector are having a difficult time.

Indeed in jest the Minister Lui noted the Baltic Dry Index was currently in basement two.

Similar observations were made by SSA president Patrick Phoon, who said: “We are pleased to note that Shipping is showing some signs of conservative recovery. Some of us may have benefitted from the lower bunker prices, but this has also presented our offshore services sector with a new set of challenges.”

Looking ahead for the year for SSA he added, “2015 will indeed be a year of celebrations! Besides commemorating Singapore’s 50th year of independence, SSA also turns 30 this year.”

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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