Maritime Leaders Call For Agility To Manage Changing State Of Play

SINGAPORE, April 9, 2015 /PRNewswire/ — Asia’s maritime leaders have today 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 today’s 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’s more dry bulk ships in the global fleet,” he said.

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

“Iron ore makes up a significant portion of the cargo transported by dry bulk shippers and this softening demand, coupled with increased capacity, has resulted in a significant shift in the supply and demand balance within the global dry bulk shipping sector,” he said.   

Mr. Hashim added the industry is taking action to manage these challenges.

“Companies are focusing on driving efficiencies and managing costs to weather these challenging conditions. One of the ways they’re doing this is by scrapping or selling older assets — a move which also allows them to generate more cash.”

“Companies are also raising equity by going back to their shareholders or the market to ensure they have sufficient liquidity to support them over this time,” said Mr. Hashim.

Singapore Maritime Foundation Chairman (SMF) and Managing Director (Marine & Technology) at Keppel Offshore & Marine Ltd, Mr. Michael Chia commented that fluctuating commodity prices is another new reality impacting the industry.

“Low bunker prices have a positive impact on the shipping industry but our marine and engineering sectors are likely to face some headwinds in securing new orders. Fortunately, the industry has a full backlog of orders that will carry them through this year and into 2016.”

“In the meantime we need to focus on increasing productivity, reducing costs and driving efficiencies to manage this volatility,” Mr. Chia said.  

He added that while this can create short-term challenges for the offshore industry, the industry is resilient and the long-term outlook remains strong.

“Exploration and production (E&P) activities in the Asia Pacific region hit a record US$723 billion in 2014 due to the rising demand for energy. While lower oil prices may impact short-term growth, the region’s fast-paced urbanisation and growing middle class means that demand for energy will continue to grow.”

Mr. Chia added the industry needs to be prepared to seize the opportunities new trends in energy E&P present.

“Liquefied natural gas (LNG) is a new space which will continue to play a bigger role in meeting energy demand. Here in Singapore, for example, we opened our first LNG terminal last year to help secure the country’s energy supply and establish ourselves as a hub for LNG bunkering.”

“These projects need the right technology and infrastructure in place and the offshore industry is focusing its research and development efforts to support these trends,” Mr. Chia said.  

Maritime and Port Authority of Singapore (MPA) Assistant Chief Executive (Development), Ms. Tan Beng Tee commented the government is working with the industry to ensure it is prepared to manage changing market conditions.

Singapore continues to keep abreast of global developments and will continue to work with the industry to address and tackle key challenges and position ourselves strategically for future growth,” she said.

“In order for Maritime Singapore to be future-ready, MPA is introducing schemes to develop quality manpower which is critical to drive growth in this global business,” she said.

This year, MPA will inject another $65 million to the maritime cluster fund-manpower development programme to attract and groom talent for the maritime sector. This additional funding will be used to introduce new initiatives and top up existing training and development efforts to ensure the skills of maritime remain current and competitive.

Ms. Tan added that MPA is also investing in infrastructure development.

“The completion of phases three and four of the Pasir Panjang terminal by end 2017 will increase our handling capacity by more than 40 per cent. These investments are critical to enable Singapore to continue driving growth in the sector,” she said.

These changing market conditions and their impact on the global maritime industry will be the focus of discussion at Sea Asia 2015 — an event which has established itself as the leading forum for discussion and debate in the maritime industry.

“Sea Asia’s importance in the global maritime calendar continues to grow,” said Seatrade Global Editor Marcus Hand.

“We are expecting more than 14,000 participants from over 60 countries to attend and are honoured that Singapore’s Minister for Transport, Mr. Lui Tuck Yew will be opening the event.

“Sea Asia has traditionally drawn the Who’s Who of maritime leadership and this year will be no different with some of the biggest names in the industry debating, discussing and analysing key issues shaping the industry at the three day event,” he said.

For more information, please contact:
Sharon Chan
Email:   sharon.chan@bbspr.com.sg
Mobile: +65 9759 9528
DID:      +65 6239 4107

About Sea Asia

Sea Asia, an international conference and exhibition for the maritime and offshore industries, is returning for the 5th edition from 21 to 23 April 2015 at the Marina Bay Sands®, Singapore. Sea Asia serves as a focal point for both the global and local maritime communities to network, explore new businesses, and showcase the latest maritime innovations, equipment and services. Co-organised by Seatrade and the Singapore Maritime Foundation, Sea Asia is an anchor event held in conjunction with the Singapore Maritime Week and is well-attended by the most influential and respected leaders in the industry. The 3-day Sea Asia conference will bring forth the latest discussion and debates on key trends, opportunities and challenges facing the maritime industry.

Sea Asia is supported by principal sponsors Anglo-Eastern Ship Management Ltd, DP World UAE Region, Executive Ship Management,  Lloyd’s Register, Neptune Orient Lines (NOL), Sohar Port & Freezone, as well as sponsors ABS, Admiralty, AXSMARINE, ClassNK, DNVGL, G Travel, Hempel, JTJB LLP, Keppel Offshore & Marine, LUKOIL Marine Lubricants,  M3 Marine Group Pte Ltd,  Mobil Industrial Lubricants, Pacific International Lines (Pte) Ltd, PANAMA MARITIME AUTHORITY, WORLDWIDE LEADER FLAG STATE, PSA Corporation Limited, QBE INSURANCE (INTERNATIONAL) LIMITED, Singtel, The Standard Club Asia Ltd, Veritas Petroleum Services, and Zamil Offshore.

For more information, please visit www.sea-asia.com.

About Seatrade

Seatrade provides a range of global events, websites and publications that covers every aspect of the cruise and maritime industries, bringing together key people to encourage innovation and to produce powerful learning, networking and promotional platforms.  Founded in 1970, Seatrade was acquired recently in 2014 by UBM, the world’s second largest media and event organiser. Seatrade sits with the UBM EMEA, which connects people and creates opportunities for companies to develop new business, meet customers, launch new products, promote brands and expand markets. Operating in over 23 countries, UBM EMEA organizes many of the world’s largest, most important exhibitions, conferences, awards, directories, websites and publications in a wide variety of industries.

For full details about this event, visit www.sea-asia.com. Find out more about Seatrade and UBM, visit http://www.seatrade-global.com/seatrade-global-information/about-seatrade.html and http://ubmemea.com/.

About the Singapore Maritime Foundation

Established in 2004, the Singapore Maritime Foundation (SMF) is a private sector-led organisation that seeks to develop and promote Singapore as an International Maritime Centre (IMC). As the representative voice for the commercial players of the maritime industry, SMF seeks to forge strong partnerships with the public and private sectors of the maritime industry. SMF spearheads initiatives to promote the diverse clusters of the maritime industry in Singapore and at international frontiers, and to attract young talents to join the sector. SMF is directed by its Board of Directors which comprises prominent leaders in the Singapore maritime community. For details, visit www.smf.com.sg.

Photo – http://photos.prnasia.com/prnh/20150409/8521502202LOGO

Brose China Receives Nationwide Quality Awards

— International mechatronics specialist Brose has been granted six 2014 Excellent Supplier awards by several OEMs in China.

— These awards demonstrate Brose’s capabilities in local product development, project launch, on-time delivery and high quality assurance as well as its effective communication with clients.

SHANGHAI, April 8, 2015 /PRNewswire/ — OEMs in China have conferred several awards on their supplier Brose for its outstanding quality performance in 2014. These awards demonstrate the international mechatronic specialist’s excellent performance in local product development, project implementation, on-time delivery and high quality assurance, as well as effective support for clients. In addition, they mark another step forward taken by Brose to achieve the goal of having the Brose brand associated with high quality in the Chinese automobile market. “I am delighted that our customers have approved of our efforts. It shows our established position in all key segments of the automotive market and across all product divisions.” Says Brian Meyer, Vice President of Quality Brose Asia. “Our constant endeavor to improve our performance has proved to be on the right track, which motivates us to make further improvement in the future.”

FAW-VW Benchmark Award and FAW-VW Localization Award

FAW-VW Benchmark Award and FAW-VW Localization Award

 

DFPV Excellent Supplier Award and Volvo Award for Best Launching Support

DFPV Excellent Supplier Award and Volvo Award for Best Launching Support

 

GAC-Fiat Excellent Supplier Award and DPCA Excellent Supplier Award

GAC-Fiat Excellent Supplier Award and DPCA Excellent Supplier Award

Shanghai Brose Electric Motors: 2014 Excellent Supplier of DFPV

In December 2014, Shanghai Brose Electric Motor (SBM) won the 2014 Excellent Supplier Award of Dongfeng Passenger Vehicle (DFPV). This honor gives credit to SBM for producing cooling fan modules for the car line of Dongfeng AX7. SBM also provided cooperative onsite support for solutions to technical issues in the process of implementation. In the ramp-up phase, the output will reach 9,000 units per month in 2015. The annual output is expected to reach more than 90,000 units and can be increased according to the client’s requirements.

Starting its operations in1995, SBM continues to expand its client base and seeks to establish itself as the drive competence center of Brose in Asia. 

Wuhan Plant: Receiving Excellent Supplier Awards from DPCA and GAC-Fiat

Also in December 2014, the honor of 2014 Excellent Supplier was conferred on Brose Wuhan plant by GAC-Fiat for its achievements in project launch and local product development. With its 100 percent locally developed and produced door system, Brose Wuhan plant has met all the requirements of the quality review for the relevant Jeep car lines.

DPCA (Dongfeng Peugeot Citroën Automobile Company) was also satisfied with the performance of Brose Wuhan plant and recognized it as its annual excellent supplier. These two awards further prove the competence of Brose Wuhan Plant in fulfilling the client’s demand for high quality, cost efficiency, project development and logistics.

Chongqing Plant: Best Launching Support Award by Volvo Car China

In November 2014, Volvo Car China awarded Brose Chongqing plant for its launching support in the production of door systems for one of its best-selling models in China. Fulfilling the relevant requirements of the customer, the Brose production team was able to achieve zero quality complaint in the first six months since start of production in September 2014. In addition, Brose also provided effective technical support, while managing the directed tier two suppliers.

Since its start of production in 2012, Brose Chongqing plant has accumulated broad experience in ramping up new production lines and successfully launched 17 new projects for all customers across all business divisions.

Changchun Plant: Benchmark and Localization Award from FAW-VW

In September 2014, Brose Changchun plant was selected for the first time as one of the two annual Benchmark Award winners among the FAW-VW A-class suppliers. The award recognizes its effective quality management process in the product delivery. By using such tools as safe launch program, Problem Management Process (PMP), SAP system and Brose Production System (BPS), Brose Changchun managed to detect errors at an early phase and effectively control the final outcome with advanced technologies. These best practice examples have been established as standards for other FAW-VW suppliers. In January 2015, FAW-VW granted the “localization award” to Brose Changchun as a further recognition of its local capabilities in development and production.  

Brose Changchun plant has been supplying seats and window regulator products to FAW-VW since 2005 and 80 percent of its market share comes from FAW-VW.

Brose made its debut in the Chinese market in 1995. Following its localization strategy, the mechatronic specialist has expanded its presence to eleven sites, covering seven of China’s key automotive regions (Shanghai, Beijing, Guangzhou, Changchun, Chongqing, Wuhan and Taicang). With 4,000 employees in China, the company generated a turnover of approximately RMB 8.1 billion in the fiscal year 2014.

Photo – http://photos.prnasia.com/prnh/20150407/0861502668-a
Photo – http://photos.prnasia.com/prnh/20150407/0861502668-b
Photo – http://photos.prnasia.com/prnh/20150407/0861502668-c

HVCC Showcases Smart Thermal Management Solutions at 2015 Seoul Motor Show

HV iCOOL™, a space-saving thermal management vehicle solution, makes its public debut

SEOUL, Korea, April 7, 2015 /PRNewswire/ — Leading automotive thermal management solutions provider Halla Visteon Climate Control Corp. (KS: 018880) is showcasing an array of eco-friendly and highly-efficient technologies for vehicles at the 2015 Seoul Motor Show.

HVCC, which expanded its global reach and product portfolio following the integration of Visteon’s climate operations in 2013, and acquisition of the automotive thermal and emissions product line of Cooper-Standard Automotive in 2014, will showcase its expanded product line at the show.

Highlighting a theme for this year’s show, “Experience HVCC, Smart Thermal Solutions beyond Climate Control,” HVCC will debut a technology demonstration vehicle that allows visitors to experience firsthand the future of smart thermal solutions.

New products for eco-friendly vehicles also are on display at the show, including a heat pump system for electric vehicles, centrifugal air compressor for hydrogen fuel cell electric vehicles, CO2 sensor and other smart solutions that deliver occupant comfort.

Presented publicly for the first time is HVCC’s HV iCOOL™ solution, a revolutionary integrated climate control system that combines the heating, ventilation and air conditioning (HVAC), compressor and condenser into a single unit with a compact refrigerant system. By design, HV iCOOL enables automakers to rethink the interior design of the vehicle by moving the HVAC from its traditional location behind the instrument panel to locations such as under the driver’s seat or in the luggage compartment. By eliminating the electric heater, this patented product is designed to offer up to a 30 percent weight reduction compared with conventional systems and the potential to improve the drive range of an electric vehicle by up to 30 percent.

The 2015 Seoul Motor Show runs through April 12. HVCC’s booth is located at P41 in the Kintex Korea International Exhibition Center.

About Halla Visteon Climate Control
Halla Visteon Climate Control (HVCC) is a full-line supplier of automotive thermal management solutions. Products include heating ventilation and air conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid and fuel cell vehicle thermal systems. With 37 manufacturing sites supported by four global technical centers in 19 countries, HVCC employs more than 15,500 people.

HVCC is a 70 percent-owned subsidiary of Visteon Corporation (NYSE: VC) and is traded on the Korea Stock Exchange. Learn more at www.hvccglobal.com.

About Visteon
Visteon is a global company that designs, engineers and manufactures innovative products for nearly every vehicle manufacturer worldwide. Visteon currently delivers value for its customers and shareholders through two technology-focused businesses: vehicle cockpit electronics and thermal management. Visteon owns 70 percent of Halla Visteon Climate Control Corp., the world’s second largest provider of vehicle thermal management solutions. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK; Visteon has approximately 25,500 employees at facilities in 26 countries. Visteon had sales of $7.51 billion in 2014. Learn more at www.visteon.com.

Singapore To Host More Than 14,000 People From Over 60 Countries At Sea Asia 2015

SINGAPORE, April 1, 2015 /PRNewswire/ — Singapore is gearing up to host more than 14,000 participants from over 60 countries this month at Sea Asia 2015 — one of the region’s largest maritime conferences and leading forum for analysis and debate on the challenges and opportunities facing the sector.

Singapore Maritime Foundation (SMF) Chairman Mr. Michael Chia said this year’s Sea Asia is also an opportunity to recognise Singapore’s position as an international maritime centre and highlight the role the industry has played in the country’s growth.

“2015 is a big year with Singapore celebrating its 50th anniversary — a key milestone and opportunity to reflect on the sectors which have helped Singapore become what it is today.

“The maritime industry — which employs some 170,000 people in Singapore and contributes around 7 per cent of Singapore’s GDP — has played a key role in driving Singapore’s development and this trend is set to continue,” he said.

Estimates show that Singapore’s container throughput for 2014 achieved another record high – 33.9 million twenty-foot equivalent units (TEUs) — growing by 4 per cent from 2013. Vessel arrival tonnage also rose by 1.9 per cent last year to 2.37 billion gross tonnage (GT) and Singapore continues to be the world’s top bunkering port with 42.4 million tonnes sold in 2014.[i]

Singapore continues to cement its position as an international maritime centre and the increasing prominence of Sea Asia in the global maritime calendar demonstrates the country’s importance in addressing the sector’s challenges and opportunities,” he said. 

Seatrade Chairman Chris Hayman said the new realities facing the industry such as falling oil prices, an unstable Eurozone and the emergence of new cargo generators such as Africa will be discussed in depth at Sea Asia 2015.

“These developments provide opportunities and challenges for the sector. Falling oil prices, for example, provide real opportunities for the shipping industry to reduce operating costs while creating challenges for the oil and gas industry.”

“Sea Asia 2015 is a critical opportunity for the global maritime and offshore communities to congregate in Singapore and share insightful perspectives on these issues affecting the various industry segments,” said Mr. Hayman.

The Sea Asia 2015 conference and exhibition will be graced by Singapore’s Minister for Transport, Mr. Lui Tuck Yew.

Mr. Chia said: “Mr. Lui’s presence at Sea Asia 2015 is testament to the Government’s recognition of the significant role the maritime industry plays in Singapore’s continuing growth and development.

“It also shows the Government’s commitment and support to sustain our position as one of the world’s leading International Maritime Centres.”    

One of the key highlights of this year’s Sea Asia event is the Sea Asia Global Forum which will see Christian Clausen, President and Group Chief Executive Officer, Nordea Bank; Khalid Hashim, Managing Director, Precious Shipping Ltd; Tom Boardley, Marine Director, Lloyd’s Register and Vice President, UK Chamber of Shipping; Andreas Sohmen-Pao, Chairman, BW Group; and S.S. Teo, Managing Director, Pacific International Lines Pte Ltd discuss trends and issues impacting the maritime industry.  

Topics that will be debated include sustainability, shipping finance, demand for ships entering ports to be built locally and the re-alignment of trade in a post-recession world. The impact of oil prices on the industry will also be a key topic on the forum’s agenda.

Sea Asia 2015 will also feature the Offshore Marine Forum which brings industry experts together to debate the challenges and opportunities facing the region’s offshore marine sector against a backdrop of record revenues, orders and complex operating environments.

Among the topics that will be discussed at the Offshore Marine Forum include the manpower challenge facing the offshore marine sector, the need for more technically sophisticated vessels and the changing geography of exploration and production.

Mr. Hayman said: “We look forward to welcoming maritime leaders from around the globe to discuss pertinent maritime issues, growth opportunities in Asia and share thoughts on how to work with the different industry sectors to navigate the challenges we are all facing.”  

This year marks the fifth edition of Sea Asia which is co-organised by Seatrade and SMF. It will be held at the Marina Bay Sands Expo and Convention Centre from 21 — 23 April as part of Singapore Maritime Week.

For more information, please contact:

Sharon Chan
Email:   sharon.chan@bbspr.com.sg 
Mobile: +65 9759 9528
DID:     +65 6239 4107

About Sea Asia

Sea Asia, an international conference and exhibition for the maritime and offshore industries, is returning for the 5th edition from 21 to 23 April 2015 at the Marina Bay Sands®, Singapore. Sea Asia serves as a focal point for both the global and local maritime communities to network, explore new businesses, and showcase the latest maritime innovations, equipment and services. Co-organised by Seatrade and the Singapore Maritime Foundation, Sea Asia is an anchor event held in conjunction with the Singapore Maritime Week and is well-attended by the most influential and respected leaders in the industry. The 3-day Sea Asia conference will bring forth the latest discussion and debates on key trends, opportunities and challenges facing the maritime industry.

Sea Asia is supported by principal sponsors Anglo-Eastern Ship Management Ltd, DP World UAE Region, Executive Ship Management,  Lloyd’s Register, Neptune Orient Lines (NOL), Sohar Port & Freezone, as well as sponsors ABS, Admiralty, AXSMARINE, ClassNK, DNVGL, G Travel, Hempel, JTJB LLP, Keppel Offshore & Marine, LUKOIL Marine Lubricants,  M3 Marine Group Pte Ltd,  Mobil Industrial Lubricants, Pacific International Lines (Pte) Ltd, PANAMA MARITIME AUTHORITY, WORLDWIDE LEADER FLAG STATE, PSA Corporation Limited, QBE INSURANCE (INTERNATIONAL) LIMITED, Singtel, The Standard Club Asia Ltd, Veritas Petroleum Services, and Zamil Offshore.

For more information, please visit www.sea-asia.com.

About Seatrade

Seatrade provides a range of global events, websites and publications that covers every aspect of the cruise and maritime industries, bringing together key people to encourage innovation and to produce powerful learning, networking and promotional platforms.  Founded in 1970, Seatrade was acquired recently in 2014 by UBM, the world’s second largest media and event organiser.  Seatrade sits with the UBM EMEA, which connects people and creates opportunities for companies to develop new business, meet customers, launch new products, promote brands and expand markets. Operating in over 23 countries, UBM EMEA organizes many of the world’s largest, most important exhibitions, conferences, awards, directories, websites and publications in a wide variety of industries.

For full details about this event, visit www.sea-asia.com. Find out more about Seatrade and UBM, visit http://www.seatrade-global.com/seatrade-global-information/about-seatrade.html and http://ubmemea.com.

About the Singapore Maritime Foundation

Established in 2004, the Singapore Maritime Foundation (SMF) is a private sector-led organisation that seeks to develop and promote Singapore as an International Maritime Centre (IMC). As the representative voice for the commercial players of the maritime industry, SMF seeks to forge strong partnerships with the public and private sectors of the maritime industry. SMF spearheads initiatives to promote the diverse clusters of the maritime industry in Singapore and at international frontiers, and to attract young talents to join the sector. SMF is directed by its Board of Directors which comprises prominent leaders in the Singapore maritime community. For details, visit www.smf.com.sg.