Welcome Remarks by Senior Minister of State Dr Lam Pin Min at the Welcome Reception of The Global Maritime Forum 2019 Annual Summit

Mr Peter Stokes
Chairman
Global Maritime Forum

Ms Caroline Yang
President
Singapore Shipping Association

Distinguished Guests

Ladies and Gentlemen

1.     Good evening. It is my pleasure to join you at the Global Maritime Forum 2019 Welcome Reception. To the participants who have flown in from overseas, a warm welcome to Singapore.

Significance of Maritime Singapore

2.     The maritime industry in Singapore, or Maritime Singapore, comprises more than 5,000 maritime establishments and an estimated 170,000-strong workforce. Contributing about seven per cent to our GDP, Maritime Singapore is and will continue to be a significant pillar of our economy. We are thus honoured to host the GMF Annual Summit this year, a platform that brings together leaders from all over the world to shape the future of the maritime industry.

Drivers of change

3.     Geopolitical tensions, shifts in trade patterns, safety and security threats, as well as an increasing focus on sustainability and technology trends such as digitalisation and additive manufacturing will change the face of the maritime industry as we know it. These developments could be a boon or a bane, depending on how we respond to it collectively. In order to mitigate these challenges and capture opportunities, to disrupt, rather than to be disrupted, it is important for stakeholders in the maritime industry to commit to collaborate.

4.     This is why Singapore places importance on having long-term, constructive collaborations with maritime industry stakeholders from the industry, unions and Government agencies. Together, we develop plans to support the maritime industry in overcoming vulnerabilities, leveraging opportunities and staying ahead of the curve. Please allow me to share a few examples.

Turning challenges into opportunities

5.     The first example relates to technology. Additive manufacturing, more commonly known as 3D printing, is seen as a threat to the maritime industry. However, this trend is upon us, and rather than be disrupted, we sought to see how we could turn it into an opportunity for innovative solutions and new services within the maritime sector.

6.     Singapore is a key location for ship maintenance and repair, and the supply of marine parts for ships. Since 2018, the Maritime and Port Authority of Singapore (MPA), the National Additive Manufacturing Innovation Cluster (NAMIC), and the Singapore Shipping Association (SSA) have come together to support the application of additive manufacturing in the printing of such marine parts. The 3D printing of these marine parts can reduce logistics and inventory costs for ship owners, operators and equipment manufacturers, and reduces layover time for shipping companies. Additive manufacturing is also a more sustainable form of manufacturing, as it helps to reduce the wastage of material. Through this collaboration, we hope to benefit the maritime industry, and strengthen Singapore’s position as a maritime and manufacturing hub.

7.     The second example relates to people. The jobs available and skills required in the maritime industry will fundamentally change in the coming years. This could lead to job losses and capability gaps in the industry if not actively addressed. To ensure that the maritime industry has the talent it needs to drive positive transformation in response to the drivers of change, we need to collaborate to upskill and reskill our people.

8.     In Singapore, this is a key area of focus. Our goal is to develop a multi-skilled maritime workforce with a global mindset, and the ability to upskill and reskill as the needs of the industry evolve. This is why we have long-term collaborations with our Institutes of Higher Learning (IHLs) to ensure that new areas of knowledge and skills relevant for the maritime industry, such as data analytics, Artificial Intelligence (AI), Internet of Things (IoT) and sustainability are being incorporated into the curriculum. For example, the Bachelor of Science in Maritime Studies programme at the Nanyang Technological University was enhanced in 2019 to include modules such as computational thinking, data science and artificial intelligence. Another example is the Maritime Business and Operations Track (MBOT) at the Singapore Management University, which includes new topics such as sustainable shipping.

9.     We also seek to support the maritime industry to reskill their workforce. MPA’s Maritime Cluster Fund-Manpower Development (MCF-MD) programme supports maritime companies and individuals in the development of manpower, training initiatives and capabilities, including coverage of emerging knowledge areas and soft skillsets.

Conclusion

10.    These are just two examples of how collaborations can help address challenges in the maritime industry, and turn them into opportunities. This Summit provides an invaluable platform for maritime industry stakeholders from all over the world to discuss opportunities for collaboration to build a better future for the maritime industry.

11.    With that, let me extend my appreciation to the Global Maritime Forum for putting together this meaningful and impactful event in Singapore, and the Singapore Shipping Association for sponsoring the Welcome Reception. I wish you all a good evening and a successful Summit ahead.