Maritime leaders call for agility

Speaking at a Sea Asia 2015 industry insights briefing ahead of the conference later this month, the leaders highlighted volatile commodity prices as well as fluctuating supply and demand as key drivers behind the changing conditions.


dry bulk shipper Khalid Hashim Maritime and Port Authority of Singapore Precious Shipping Sea Asia 2015 Tan Beng Tee


Asia’s maritime leaders have called for the industry to adapt more quickly to changing market conditions in order to effectively capture opportunities and ensure its long-term future across the region.

Speaking at a Sea Asia 2015 industry insights briefing ahead of the conference later this month, the leaders highlighted volatile commodity prices as well as fluctuating supply and demand as key drivers behind the changing conditions. Sea Asia 2015 will take place in Singapore from 21-23 April 2015. Leaders at the session added that the speed at which the industry can adapt to this changing state of play will ultimately define maritime’s ongoing success.

Managing director of Precious Shipping Ltd, Khalid Hashim, said “these market forces have created substantial challenges for the dry bulk shipping sector.”

“Asia continues to be the driving force behind global growth but slower-than-expected economic development in some markets has had a significant impact. The recent slow-down in China’s real-estate industry, for example, has reduced demand for iron ore at a time when there are more dry bulk ships in the global fleet,” he said.

Hashim commented that between 2009 and 2012 total dry bulk capacity grew by 12.13 per cent year-on-year.