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Maritime Challenges (SIngapore)


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Maritime Challenges (SIngapore)

  1. 3. <ul><li>Singapore’s success in the Maritime Industry can be attributed to the clustering effect which resulted in successful integration of its core Maritime activities </li></ul><ul><li>4 core challenges facing the Maritime Industry have been identified </li></ul>Offshore, Shipbuilding and Repair Shipping & Port Related Sectors Shore-Based Maritime Service Responding to external changes 1 Maritime Industry Human Resource Development 4 Moving up the Value-Chain 3 Technological Innovation 2
  2. 4. <ul><li>Regulation to reflect changing global perspective </li></ul><ul><li>Implement Eco-Initiatives that would align Singapore’s Position as leading Port Authority in tandem with leading global best practices </li></ul><ul><li>Going above and beyond MARPOL convention </li></ul>Security Challenges Environmental Challenges <ul><li>Mitigate security threats of piracy and organised crime </li></ul><ul><li>increase the depth and scope of International Cooperation. </li></ul><ul><li>Trans-national cooperation through bilateral agreements, or at the multilateral level through various international or regional fora (E.g. ASEAN Regional Forum) </li></ul>
  3. 5. Competitiveness <ul><li>Ongoing Innovation to meet the threat of rising competitiveness from developing ports from within the region </li></ul><ul><li>Meet challenges posed by peripheral ports </li></ul><ul><li>Implement initiatives for local maritime industry to be more effective in reaching out to new markets overseas </li></ul><ul><li>E.g. Shanghai maritime traffic has increased from 0.3 Million ( TEUS) in 1990 to 6 Million in 2000. Now the 6 th largest port in the world within a time span of less than 10 years </li></ul>Economy <ul><li>Robust regulatory framework and support systems to prepare for external global economic changes such as the current financial crisis </li></ul><ul><li>Ensure that maritime industry is propped up by strong financial and management fundamentals </li></ul><ul><li>Increasing Corporate Governance monitoring to ensure investor confidence and prevent fraud and other corporate malfeasance </li></ul>
  4. 6. <ul><li>An Innovation-Driven Industry to explore technological breakthroughs to increase efficiency and growth </li></ul>“ Staying at the forefront of technology is an integral part of Singapore’s growth as an international maritime centre” BG (NS) Tay Lim Heng, CEO MPA Technology Innovation Infocomm@Seaport Programme Wimax Ready Seaport New Innovations New Innovations Marine Industry outcome Tangible Results <ul><li>Industry Top-Line Growth </li></ul><ul><li>Bottom-Line Efficiencies </li></ul><ul><li>Positive Branding </li></ul><ul><li>New Opportunities </li></ul>Offshore Shipbuilding and Repair Shipping and Port Related Service Shore Based Maritime Services
  5. 7. <ul><li>To build a Maritime Industry that competes on providing exceptional value-add </li></ul><ul><li>Industry must move along the value chain to develop new competencies and to exploit new opportunities </li></ul>“ continually upgrade and re-invent to ensure that the marine industry offers a good value proposition for its customers” Mrs Lim Hwee Hua Second Minister for Finance and Second Minister for Transport 1980s-1990s 1990s Onwards Future Challenges
  6. 8. <ul><li>A Value-Added Maritime Industry requires </li></ul><ul><ul><li>Further development of our marine workforce so as to raise productivity level </li></ul></ul><ul><ul><li>Attract competent graduates & executive talent to push industry to next level </li></ul></ul><ul><ul><li>Attract Internationally renowned experts and researchers to identify and develop new R&D projects </li></ul></ul>Human Resource Challenges 1 2 3 4 Human Resource Strategies
  7. 9. External Changes Technological Innovation Moving Up Value Chain HR Development 1960s 1970s 1980s 1990s 2000s <ul><li>Marine Industry reaches $100 Mil mark </li></ul><ul><li>Jurong Shipyard, first commercial shipyard established </li></ul><ul><li>Forays into oil tanker production successful </li></ul><ul><li>Emergence of VLCCs </li></ul><ul><li>Total revenue of $2 Billion </li></ul><ul><li>Largest ship repair centre </li></ul><ul><li>Forays into FPSOs </li></ul><ul><li>Total revenue of $3 Billion reached </li></ul><ul><li>Forays into sophisticated rigs construction </li></ul><ul><li>Captured 70% of world market of FPSOs and Jack-Up rigs </li></ul><ul><li>2008 revenue of $15.4 Billion </li></ul>Meet Challenges to propel to next phase of growth