Dubai Maritime Agenda 2017 Discusses Future of Global Maritime Sector

0
Dubai Maritime Agenda (Image Courtesy: Albawaba)

The second Dubai Maritime Agenda was inaugurated by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, the Dubai Maritime City Authority (DMCA) on Tuesday. The event brought together international experts, decision-makers and maritime leaders to explore the future of maritime sub-sectors influencing the industry and new means to drive growth, sustainability, security and safety.

This year’s Dubai Maritime Agenda included strategic sessions on various topics centered mainly on Dubai’s achievements and leading position on the global maritime map. The Agenda highlighted Dubai’s innovative initiatives to build a secure and sustainable maritime environment to attract business and investment. The DMCA’s objective is to strengthen the role of the maritime sector in supporting the domestic economic diversification policy. International broadcaster and journalist, Todd Benjamin, moderated five sessions discussing how current conditions in the international markets are reshaping the future of the maritime sector.

Sultan Ahmed Bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation in Dubai and Chairman of Dubai Maritime City Authority (DMCA) said that DMA 2017 is an ideal platform for global maritime leaders to anticipate the future of the maritime industry in light of the rapid developments of the 21st Century, and to explore promising opportunities in line with intensive regional preparations for a post-oil era.

“The event supports our efforts to create a conducive environment for promoting the competitiveness of the maritime sector for both local and regional investors in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to make the emirate one of the most important and vibrant maritime capitals in the world,” Sulayem added.

Amer Ali, Executive Director of DMCA, said, “The Dubai Maritime Agenda offered important outputs in terms of advancing maritime innovation and using cutting-edge technology to ensure safe and secure navigation. This is in line with efforts to develop legislative infrastructure and training frameworks for creating an integrated sector capable of meeting development requirements in the modern world.”

Marc Gijsbrecht, Maersk Line’s CEO for West Central Asia, was the keynote speaker for the event. Speakers included, dignitaries from the London Maritime Arbitration Association, Vancouver International Maritime Centre, Dubai International Financial Centre Courts, Hong Kong Maritime Arbitration Group (HKMAG), Emirates Maritime Arbitration Center and Lloyd’s Register Marine & Offshore. It also featured senior officers of leading international companies such as Topaz Energy and Marine, Maritime London, Rolls-Royce Plc, Tufton Oceanic (Middle East) Ltd, Stephenson Harwood Middle East LLP, Galbraith’s Limited, SCF Management Services, Affinity Research LLP, Aspida, Identec Solutions and Standard Chartered.

The discussions were divided into five sessions to cover an extensive range of topics and developments within the international maritime scene. The participants tackled – ‘The Global Outlook for Shipping’, ‘Safely Sailing the High Seas – Reducing the Legal Risks’, ‘Future of Shipping Technologies’, ‘Finance for Shipping in the Next Decade and the Role of Shipping Banks’ and Maritime Clustering (Collaboration or Competition).’

The forum started with a look at the evolving market environment, with emphasis on the container, energy transport, and offshore marine markets. Session two discussed the role of arbitration in the resolution of maritime disputes and in reducing legal risks for shipowners, with a special focus on the contributions of the Emirates Maritime Arbitration Centre (EMAC) as a new player on the global arbitration scene.

The third session revolved around changes in information and communications technology and challenges of cyber security for shipping lines and ports, while finance for shipping in the next decade was the primary focus of session four and touched on how the current market landscape has affected the number and transaction size of ship finance deals so far in 2017. The final session of the day offered views on what lies ahead for competition and cooperation among the world’s leading maritime capitals.

Sea News, October, 10