Singapore Shipping Association

1 Singapore Shipping AssociationTowards a Brighter FutureANNUAL REVIEW 2011/12 ContentsPresident s ReportCouncil Members 2011/2013 Organisational StructureSSA Committees 2011/2013 Activities ReportPort and Shipping StatisticsMembership SummaryMembership Particulars & Fleet Statistics Fleet Statistics Summary Ordinary Members Associate Members03060708394046 Singapore Shipping ASSOCIATION59 Tras StreetSingapore 078998 Telephone: (65) 6222 5238 Facsimile: (65) 6222 5527 Email: Website: thanks to our statistics contributors, advertisers, and the following companies for granting us the permission to use their photographs: AET Tankers Pte Ltd, BW Maritime Pte Ltd, EU NAVFOR, Hong Lam Marine Pte Ltd, Jurong Port Pte Ltd, Masterbulk Pte Ltd, NYK Bulkship (Asia) Pte.

2 Ltd., PACC Offshore Services Holdings Pte Ltd, PSA Corporation Limited, Rickmers Trust Management Pte Ltd, Singapore Tourism Board, Smithsonian Environmental Research Center, Swire Pacific Offshore Operations (Pte) publication is published by the Singapore Shipping Association . No contents may be reproduced in part or in whole without the prior consent of the publisher. MICA (P) 043/07/2012 Singapore Shipping Association ANNUAL REVIEW 2011/12 32 Singapore Shipping Association ANNUAL REVIEW 2011/122012 as long-overdue, but a step in the right direction. The effort must be sustained, however!

3 Furthermore, any effective strategy must also address the root causes of the piracy problem. Establishing a stable and credible government in Somalia will help provide job security and employment for young Somalis, keeping them off such illegal activities. In the absence of any long-term solution, however, SSA members whose ships are transiting the treacherous waters have been strongly advised to comply fully with the 4th Edition of the Best Management Practices for protection against Somalia based piracy developed by various industry s owners and managers have also expressed great concern at increased instances of pirate attacks and ship hijacks in the waters off the coasts of Benin and Nigeria.

4 It was extremely unfortunate that a ship belonging to one of our members was attacked recently. Closer to home, the Association has developed very strong relationships with the Regional Cooperation Agreement on Combating Piracy & Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre (ISC) and the 2011 has been a very difficult year for the Shipping industry. The second half of 2011 saw a slight recovery in the Shipping market but this was short-lived. Soaring oil prices, turmoil in global financial markets and the threat of overcapacity have dampened any prospects of recovery.

5 As a result, these developments have adversely affected the whole Shipping industry. Shipping rates have dropped substantially, services reduced and vessels laid up. Many Shipping companies consequentially have suffered hefty losses whilst some others have regretfully gone signs of economic weakness are surfacing in Brazil, China, the EU, India, South Africa and the United States, and are darkening the economic outlook for 2012. These developments have prompted the Organisation for Economic Co-operation and Development (OECD) to cut its growth forecast for developed economies.

6 The International Monetary Fund (IMF) also sees the global economy growing more slowly than last year s rate of industry is a cyclical one, however we have all weathered rough seas before, and I am confident that we will emerge from the current turbulence stronger and more resilient to seize the abundant opportunities that await us. International Maritime DevelopmentsShipping is a global industry. Besides the depressed global economy and freight market, our Association has focused on a number of other issues in the past year. Piracy and Armed RobberyThe ongoing threat of pirate attacks off the coast of Somalia and in the Gulf of Aden continues to remain a topic of real concern.

7 For over half a decade, these criminals have held the world economy and international Shipping hostage and putting the lives of our seafarers at Association welcomed the EU Naval Forces strike against Somali pirate logistics base ashore on 15 May Our industry is a cyclical one, however we have all weathered rough seas before, and I am confident that we will emerge from the current turbulence stronger and more resilient to seize the abundant opportunities that await us. As an AssociationThe Association will protect and promote the interests of its members. It will undertake activities on Shipping matters which are beneficial to its the IndustryThe Association will take the view of the Shipping industry as a whole.

8 It will play its due role to promote the interests of Shipping in Singapore , ASEAN, Asia and the world. To do so, the Association will co-operate with other Shipping organisations, in ASEAN, Asia and SingaporeThe Association will work closely with the government of Singapore to protect the extensive maritime interests of Singapore and to promote Singapore as a major port and international maritime International ShippingThe Association will co-operate with governmental and non-governmental organisations to promote freedom of the sea, safety at sea and to protect the marine s ReportMr.

9 Patrick Phoon, President, Singapore Shipping AssociationSINGAPORE Shipping Association ANNUAL REVIEW 2011/12 54 Singapore Shipping Association ANNUAL REVIEW 2011/12 The SSA continues to maintain close working relationships with various industry stakeholders such as the MPA, the Singapore Maritime Academy (SMA), the Singapore Maritime Foundation (SMF) and the two seafarers unions. SSA regularly met and engaged these stakeholders in fruitful and productive discussions, addressing industry concerns. Our AssociationI am very encouraged that many Shipping and related companies still find the SSA a very useful Association to join for networking and to enhance their businesses.

10 Our membership has grown very impressively in the past year. As of 1 June 2012, the SSA membership stood at 433 member companies, 255 of which are Ordinary Members, 178 are Associate Members and 2 Individual Members. To all our new members, I warmly welcome them aboard! The Association s Young Executives Group (YEG), which celebrated its 6th anniversary in March this year, attracted a membership of over 800 members. We have placed a lot of emphasis and hope in these young professionals by encouraging them to participate and make positive contributions to the Association s newsletter, Waves , has entered its 5th year of publication in May this year.