Speech by Mr. Loo Tze Kian, Board Member, Singapore Maritime Foundation, at the MSC Maritime Summit Case Challenge Information Session
15 February 2019, 7:30pm
Seminar Room B1.01, School of Law, Singapore Management University, Singapore
Capt. Edmund George
Head of Fleet Studies, APL
Mr. Tan Wee Meng
Chief Technical Officer, Jurong Port
Head of Marine, Shell Companies in Singapore
Ladies and gentlemen,
A very warm welcome to the Information Session for the inaugural MSC Maritime Summit Case Challenge.
1. First of all, I’d like to thank all of you for taking the time to spend your Friday night with us here. It’s heartening to see such strong support for our very first Case Challenge. This evening, we have over 100 undergraduates gathered from across NTU, NUS, SMU, SIT and SIM. In fact, 75 per cent of the participants are not maritime students and that is great, because as a leading International Maritime Centre, maritime companies in Singapore require talent of different backgrounds, and we hope that after this Case Challenge, you would consider a career in this diverse and dynamic industry.
Overview of the Maritime Industry
2. Shipping moves 90 per cent of world trade, and it is essential to the world’s economy. You may not realise it, but Singapore is home to a diverse range of maritime businesses, including more than 140 of the world’s top shipping groups. Our thriving maritime ecosystem consists of more than 5,000 maritime establishments generating over 170,000 jobs. Maritime Singapore contributes to seven per cent of our nation’s Gross Domestic Product (GDP) and the industry remains one of Singapore’s key economic pillars. We are the World’s Busiest Transhipment Hub – accounting for almost one-seventh of the world’s total container transhipment throughput, and Singapore is also the World’s Leading Bunkering Port.
3. While others can only imagine what it means to be a part of this international community, today, we have the privilege to have such a global and diverse network of port, shipping, maritime services, and marine and offshore engineering sectors.
4. The industry is also undergoing a digital transformation and we are already seeing the fruits of this change, such as the incorporation of blockchain, Artificial Intelligence and automated vehicles in Singapore’s Next Generation Tuas Port. Through these, we have seen an increased efficiency in our work processes and the potential to do so much more.
5. For Maritime Singapore to continue growing and remain competitive, maritime employers are on the lookout for talent with diverse skills and a global mindset; people who can play as a team but also stand out from the crowd with their ability to persuade and present creative and practical solutions.
About the MSC Maritime Summit Case Challenge
6. It was for this reason that we started the MSC Maritime Summit Case Challenge this year. After discussion with our partners, APL, Jurong Port and Shell, we decided we wanted your take on business challenges in the areas of talent management, digital technologies and operational efficiencies for the Preliminary Round. Regardless of the course you are in, we hope that this will be a fruitful journey as you apply your skills and knowledge to real-world challenges faced by maritime companies.
7. As a participant in this Case Challenge, you already have a head start over your peers, as you will be gaining deeper insights into the industry and building up useful skill sets and competencies that can aid in future careers and internships.
8. The MSC Maritime Summit Dinner after the Grand Finals is also a unique feature of this Case Challenge, where attendees include the Chief Operations Officer of APL, the Chief Executive Officer of Jurong Port and the Country Chair for Singapore from Shell. I urge you to take full advantage of this exclusive fine-dining experience that we have arranged, should you earn your stripes by emerging as one of the top three teams. It is a rare opportunity for you to network and learn from the senior management of the participating companies, Singapore Maritime Foundation, as well as the Maritime and Port Authority of Singapore.
9. In closing, I’d like to express my gratitude to our partners – APL, Jurong Port and Shell. Each year, the Maritime Singapore Connect Office embarks on new initiatives to expand our talent outreach, with this Case Challenge being the latest one. We greatly appreciate your faith in us and your strong support all this while.
10. Thank you.