Senior Minister of State for Finance and Transport Mrs Josephine Teo Outlines Singapore’s Strategy for Continued Growth as a Premier Global Hub Port & Leading International Maritime Centre at the Inaugural Singapore Maritime Dialogue Involving 200 Students

06 June 2014

About 200 students had the chance to hear from, and pose questions, to a panel consisting of Mrs Josephine Teo, Senior Minister of State, Ministry of Finance and Ministry of Transport, and four other senior maritime leaders1 at the inaugural Singapore Maritime Dialogue today. The event, held at the InterContinental Singapore, engaged students from various junior colleges and polytechnics on key issues relating to the Singapore maritime industry, and the Government’s plans for the continued growth of an industry contributing to some seven per cent of Singapore’s Gross Domestic Product.

The Guest-of-Honour, Mrs Josephine Teo, spoke on the importance of the maritime industry to Singapore’s economy, and its international accomplishments – as one of the world’s busiest ports and largest container transhipment hub, a leading International Maritime Centre, and world leader in offshore and marine engineering.

She also highlighted the diverse range of maritime education and scholarship opportunities available to students, and urged them to consider a career in the maritime industry.

With Asia being a major engine of global economic growth and trade, Singapore is well-positioned to grow in relevance alongside Asian shipping. We invite young Singaporeans to uncover the treasure trove of opportunities and be part of a new generation to shape the next chapter of Maritime Singapore.

The one-hour dialogue and Q&A session between the students and dialogue panellists covered a wide range of issues pertinent to the maritime industry. The growing global competition and the Singapore government’s commitment to the maritime industry through investments in manpower and infrastructure, as well as Singapore’s manpower policies on developing local manpower and talent, and providing quality job opportunities for locals, were among the topics discussed. Other issues of interest for the students included the options for maritime education, scholarship and careers in Singapore.

The Singapore Maritime Dialogue is one of the activities under MaritimeONE, an initiative by the Maritime and Port Authority of Singapore under the Ministry of Transport, and three other leading industry associations (Singapore Maritime Foundation, Singapore Shipping Association and the Association of Singapore Marine Industries).

Said Mr Michael Chia, Chairman of the Singapore Maritime Foundation (SMF) and MaritimeONE, “The maritime industry is not top-of-mind for most people although it is very relevant to our daily lives since shipping transports almost everything we use and consume. We need to change that, and through the efforts of MaritimeONE over the years, we have made headway in raising the awareness of our young people through various initiatives, including career fairs, school talks and events like the Singapore Maritime Dialogue.”

Mr Liu Xuanyi, student moderator at the Singapore Maritime Dialogue, and MaritimeONE scholar pursuing a double degree programme in Law & Business Management at the Singapore Management University, had this to say about his choice of a career in maritime: “I am drawn to the maritime industry’s dynamism and diverse workforce, which offers me the chance to meet and learn from professionals from all over the world. After I graduate, one of my plans is to practice as a ship finance lawyer because it combines my love for law with my keen interest in the maritime industry. This would not just be a job for me. It would be a career that I look forward to, and I believe that my work will play a part in the growth of Singapore’s maritime industry.”

Shipping moves 90 per cent of world trade so it plays an important role in the global economy. Closer to home, the Singapore maritime industry is a key pillar of our nation’s economy, contributing some seven per cent to our Gross Domestic Product. There are more than 5,000 maritime establishments employing more than 170,000 personnel. Hence, students have a wide variety of choices in maritime education, scholarship and career opportunities.

1 The dialogue panellists comprised Mrs Josephine Teo, Senior Minister of State, Ministry of Finance and Ministry of Transport; Mr Andrew Tan, Chief Executive, Maritime and Port Authority of Singapore; Mr Michael Chia, Chairman, Singapore Maritime Foundation & MaritimeONE; Mr Patrick Phoon, President, Singapore Shipping Association; and Mr Freddie Woo, Vice President, Association of Singapore Marine Industries.

About Singapore Maritime Foundation

The Singapore Maritime Foundation (SMF) was established on 27 January 2004 to facilitate dialogue and cooperation among maritime stakeholders from the public and private sectors. As the bridge between the public and private sectors, SMF aims to provide the industry with a clear and representative voice, and spearhead projects to boost its development.

SMF also organises and participates in a host of maritime events to strengthen the Maritime Singapore brand. To date, SMF has significantly benefitted from strong support from all sectors of the industry which has enabled the organisation to reach out directly to the community for new areas of work to improve the current maritime ecosystem.

For details, please visit

About MaritimeONE

MaritimeONE (Outreach NEtwork) is the key manpower initiative for maritime stakeholders to collectively raise awareness of the maritime industry as well as to profile education and career opportunities for students and committed individuals.

The initiative was launched in April 2007 by the Maritime and Port Authority of Singapore (MPA), Singapore Maritime Foundation (SMF), Association of Singapore Marine Industries (ASMI) and Singapore Shipping Association (SSA). Partnership activities include industry awareness talks, scholarship offers, student outreach events and regular networking events for employers and tertiary students.

Media Contacts

Singapore Maritime Foundation
Regina Lim
Senior Manager
(65) 6325 0227
Cheryl Lim
(65) 6325 0226


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


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


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


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


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.