Recap: Singapore Maritime Lecture

The Singapore Maritime Week took place from 4 to 8 April 2022. “Transformation for Growth” was the theme threading this year’s series of events where leaders across the spectrum of the industry gathered to discuss topics concerning innovation, sustainability, services and the group of individuals that will drive this transformation – talent.

Opening with the Singapore Maritime Lecture by Deputy Prime Minister (DPM) and Coordinating Minister for Economic Policies Mr. Heng Swee Keat, this was followed by a fireside chat with DPM Heng that was moderated by Singapore Maritime Foundation Chairman, Mr. Hor Weng Yew. 

A Singapore Maritime Week flagship event, the inaugural SML was delivered by founding Prime Minister Mr. Lee Kuan Yew in 2007 and has since been headlined by prominent political and industry leaders with a diverse range of expertise. 

DPM Heng delivering the Singapore Maritime Lecture at SMW 2022

During his address, DPM Heng launched the Sea Transport Industry Transformation Map (ITM) 2025 as well as the Maritime Industry Transformation Tripartite Committee (MITTC)—comprising  representatives across the industry, unions and the government— that is co-chaired by Singapore Maritime Foundation Chairman Mr. Hor Weng Yew and Maritime and Port Authority of Singapore Chief Executive Ms. Quah Ley Hoon, will steer and realise the ambitions of the ITM. 

While maritime is expected to face headwinds in time to come, putting in place these initiatives will not only safeguard the industry from potential storms but more importantly build new capabilities for growth. 

DPM Heng and SMF Chairman, Mr Hor Weng Yew

Shifting Global Trade Patterns and What this Means for Singapore

With the backdrop of the persisting Covid-19 pandemic and the Ukraine crisis, the immediate economic outlook appears to be uncertain, raising the question of whether these are transient obstacles or if they would produce durable impact on global trade. 

To this end, DPM Heng remarked that crisis is but a recurring feature in our world economy, from the Asian Financial Crisis and dot.com bubble to the present challenges we face. 

In the coming years, I think we will begin to see a greater need for people to prepare for not only a more resilient supply chain but also some form of insurance so that we do not have disruptions to the entire economy”

DPM Heng on the need to build stronger supply chain competencies

As a small nation-state, it is imperative for Singapore to remain open to global trade. Trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the ASEAN free trade agreements solidify Singapore’s global partnerships. Besides continuing to augment our trade linkages and networks, DPM Heng highlighted that developing green finance and incorporating digitalisation will allow Singapore to distinguish itself on the global stage and be adaptive to shifts in global trade patterns.

Catalysing the Green Transition

Despite the ongoing economic challenges, responding to decarbonisation goals is a target that Singapore must press on with. Responding to Mr. Hor’s question on what more Singapore can do to make this decisive step, DPM Heng proposed forging ties with international partners to push new frontiers, especially in research and development. Raising the example of the Global Centre for Maritime Decarbonisation’s recent commissioning to set ammonia bunkering safety standards, Singapore is readily taking action. 

Building a Future-ready Maritime Workforce

Maritime is marching towards the next phase of transformation. Equipping talent with the right skillsets will allow them to respond to the challenges to come, such as the sea change attendant with a greener and digitalised maritime sector. 

On the supply side, the nature of technological change is Industry 4.0 where AI and machine learning will be coming. Rethink what work will be like on board or at ports. Reconfigure processes and eliminate unproductive work and data exchanges. Those call for new skills."

DPM Heng on how digitalisation will change the face of work

*Photo Credits: Maritime and Port Authority of Singapore

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Inaugural MSC Maritime Digital Challenge Grand Finals Prize Presentation

Over 129 tertiary students across 35 teams took part in the inaugural MSC Maritime Digital Challenge that seeks to plug Singapore students with a passion for technology into the maritime industry.
Students from the Singapore Management University and Nanyang Polytechnic were announced as winners of the challenges posed by Eastport Maritime, Kanda and Torvald Klaveness at the Prize Presentation held on 13 November 2021.

MSC Maritime Digital Challenge 2021

Three challenge statements, 35 teams, 129 students and 12 finalist teams from 4 universities & 3 polytechnics. Catch behind-the-scene highlights of the MSC Maritime Digital Challenge 2021.

Singapore Maritime Foundation | MSC Maritime Digital Challenge 2021

Catch highlights of the MSC Maritime Digital Challenge 2021. We thank Senior Minister of State, Ministry of Transport Mr. Chee Hong Tat for being our Guest-of-Honour at the event.

SMF New Year Conversations 2022: Year-in-Perspective Video

The past two years of learning to live with Covid-19 has been challenging, but Maritime Singapore has remained resilient. What are the fundamental tenets that attract companies to anchor their business in Singapore and grow their operations here? And what more can be done to leverage on Singapore’s strengths to enhance its attractiveness as a global business hub for maritime companies? How will the Singapore Maritime Foundation organize its work around Connectivity, Innovation and Talent to strengthen the maritime ecosystem? Find out in this Year-in-Perspective video.

SMF New Year Conversations 2022: Opportunities Amid Disruptions

The 2022 SMF New Year Conversations that took place on 13 January 2022 was graced by Guest-of-Honour Mr S Iswaran, Minister for Transport & Minister-in-charge of Trade Relations. Over 250 industry leaders across the breadth of maritime attended physically and virtually.
Singapore was announced to have secured the overall top spot as an international maritime centre for the fifth consecutive time in the DNV-Menon Leading Maritime Cities 2022 report.
Thank you to our industry partners for your strong support.

Mr. Lars Kastrup

CHIEF EXECUTIVE OFFICER, PACIFIC INTERNATIONAL LINES

Mr. Lars Kastrup is the Chief Executive Officer of Pacific International Lines (Pte) Ltd (PIL).

Prior to joining PIL, Mr. Kastrup was CEO of NOL/APL, and subsequently assumed the role of Executive Vice President, Strategy and M&A at CMA CGM Group. A veteran in the global shipping industry with over 30 years of experience, Mr Kastrup’s other roles include Executive Vice President of Assets at CMA CGM Group heading up CMA Terminals, CMA Ships, Container Logistics as well as regional carriers such as MacAndrews, OPDR and Mercosul; as well as Vice President at AP Moller-Maersk.
Mr. Kastrup complemented his tertiary education with leadership and management training at Penn State University and The Wharton School at the University of Pennsylvania.

Ms. Angeline Teo

MANAGING DIRECTOR & HEAD, GLOBAL TRANSPORTATION & OFFSHORE, OCBC BANK

Ms. Angeline Teo is the Managing Director and Head of Global Transportation and Offshore, Global Corporate Banking at OCBC Bank which focuses on the maritime, aviation, land & port ecosystems.
Ms. Teo has spent over three decades in maritime finance. Prior to OCBC, Ms. Teo was working at ING Bank, ABN Amro and DnB in Singapore focusing on maritime and offshore.
Ms. Teo graduated from the National University of Singapore with a degree in Business Administration.

Mr. John Martin

CHIEF EXECUTIVE OFFICER, GARD SINGAPORE

Mr. John Martin began his career in London in 1989 with Richards Hogg Lindley Average Adjusters, and qualified as a Fellow of the UK Association of Average Adjusters in 2000.
At RHL he worked in their offices in Australia, Taiwan and Hong Kong. In 2003 he joined Gard Hong Kong, as a claims handler. Mr. Martin also worked in Gard Japan, and in 2014 he moved to Singapore to set up the Gard Singapore office.
Besides running Gard Singapore, Mr. Martin also heads the P&I and H&M claims units and is the Senior Claims Representative for Gard in Asia.

Mr. Cyril Ducau

CHIEF EXECUTIVE OFFICER, EASTERN PACIFIC SHIPPING

Mr. Cyril Ducau is the Chief Executive Officer of Eastern Pacific Shipping Pte Ltd, a leading shipping company headquartered in Singapore for the past 30 years.

He is also currently the Chairman of Kenon Holdings Ltd and a member of the board of directors of Gard P&I (Bermuda) Ltd. and of the Global Centre for Maritime Decarbonisation Limited, which was established by the Maritime and Port Authority of Singapore. He was previously Head of Business Development of Quantum Pacific Advisory Limited in London from 2008 to 2012 and acted as Director and Chairman of Pacific Drilling SA between 2011 and 2018.
Prior to joining Quantum Pacific Advisory Limited, Mr. Ducau was Vice President in the Investment Banking Division of Morgan Stanley & Co. International Ltd. in London between 2000 and 2008.
Mr. Ducau graduated from ESCP Europe Business School (Paris, Oxford, Berlin) and holds a Master of Science in business administration and a Diplom Kaufmann.