Mr Teo Siong Seng, President of the Singapore Shipping Association

Distinguished Guests, Ladies & Gentlemen

Good Evening

         Thank you for inviting me to join you this evening for the Singapore Shipping Association’s 19^th Anniversary Gala Dinner.  Tonight’s theme, “A Night of Music with Friends” is an appropriate one, as we have many friends from the shipping community here tonight to join in the celebrations.

The IMC Vision – SSA’s Contributions

2.       Singapore is one of the world’s prominent hub ports and maritime nations and is home to a large pool of cargo traders and shipping groups.  While we develop our port and continue to attract key traders and shipping lines to Singapore, we are also developing a vibrant and influential cluster of shore-based maritime ancillary services. These include broking, financing, insurance and legal services that our port, traders and shipping lines here would require.  We want to build Singapore into a premier international centre where maritime companies thrive and activities flourish. This is our international maritime centre, or IMC, vision.   

3.       The SSA has been actively contributing to the local shipping industry since its formation in 1985.  The SSA has played a key role in actively facilitating the exchange of views among many shipping and shipping-related companies on issues affecting the global and Singapore shipping industry.  The many SSA activities have helped to forge friendships and build bonds amongst the industry players.  Beyond Singapore, the SSA has built up strategic alliances with international shipping bodies such as the IMO, BIMCO, International Chamber of Shipping, INTERCARGO, INTERTANKO and the Federation of ASEAN Ship-owners’ Associations (FASA), to promote mutually beneficial interests through the addressing of policy issues and matters affecting international shipping and trade.   

4.       On this note, I wish to commend Mr Teo Siong Seng, President of the SSA, who is also Chairman of FASA, for successfully hosting and organising the 13^th Asian Ship-owners’ Forum (ASF) in May this year.  The Forum, which had a record turnout of 115 delegates, attracted key Asian and international shipping players to Singapore.  This year’s Forum was especially noteworthy.  Among others, the IMO Secretary-General, Admiral E. Mitropoulos, gave an instructive address on key maritime issues.  The meeting was a unique opportunity for the IMO Secretary-General and the leaders of the Asian shipping community to exchange perspectives and achieve greater mutual understanding on key areas of concern such as maritime security.  There was also a meeting of the Round Table Group comprising BIMCO, International Chamber of Shipping, INTERCARGO and INTERTANKO. In short, the success of the ASF was due to the hard work of Mr SS Teo and his SSA colleagues.  Well done, SSA!    

5.       Over the years the SSA has grown into a 250-member strong association. I urge the SSA to continue to work closely with Government agencies, and with the other industry bodies such as the Singapore Maritime Foundation and the Association of Singapore Marine Industries, to enhance Singapore’s competitiveness and visibility as an international maritime centre. 

Maritime Business Development Programme

6.       As part of our efforts to develop Singapore as a leading international maritime centre, the Singapore Government is continually seeking to improve and refine our programmes and initiatives. We aim to create an operating environment that is attractive for shipping and shipping related companies to base and expand their operations here. 

7.       To encourage maritime organisations and companies to start new divisions in Singapore and to roll out new products and services from Singapore, I am pleased to announce the launch of the Maritime Business Development Programme.  The objective of this initiative is to create an operating environment that is favourable to the initial development of targeted maritime businesses and organisations.   Under this initiative, we have set aside S$7 million to support qualifying maritime organisations that intend to establish new business units or products or services in Singapore.   MPA will help to defray certain cost items such as rental and manpower, so as to provide a sweetener for new initiatives.

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