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New Leader At Singapore Maritime Foundation
March 2010 | Finance | Maritime | Litigation & Arbitration | Maritime | Multidisciplinary Practices | Maritime | Starboard

Anticipating a steadying world economy and an upswing, the new Singapore Maritime Foundation chairman Michael Chia says his aim will be to promote maritime finance, insurance and legal services to establish Singapore as a maritime centre, along the lines of London. Mr Chia is the managing director (offshore) at Keppel Offshore and Marine and was previously the President of the Association of Singapore Marine Industries.

Mr Chia, describing the SMF as a partner to the maritime industry, sees the continued development of ports, shipping, offshore and marine sectors. However, with strong representation by bankers and lawyers on the current board, SMF will continue to strengthen the services it provides.

One such early change has been the reconstitution of the Singapore Chamber of Maritime Arbitration as company limited by guarantee. Previously run by the Singapore International Arbitration Centre, the standalone SCMA will now be more in line with the industry's expectations on how maritime arbitrations are managed, particularly in terms of fees and the level of administrative involvement.

The biggest challenge facing the SMF will be retention of talent. Mr Chia expects the maritime sector to lag while the other sectors recover and this may lead to a depletion in manpower required during the upturn. MaritimeONE, a private-public partnership, will be set up to attract and nurture industry talent. Mr Chia also anticipates the second Sea Asia maritime exhibition and conference (held in conjunction with Singapore Maritime Week 2011 on 12-14 April 2011) will anchor public attention and bring together major players from diverse sectors of the global shipping industry.

Serving with Mr Chia are three new board members: Wong Weng Sun (president and CEO of Sembcorp Marine, president of the Association of Singapore Marine Industries); Patrick Phoon (deputy managing director of Evergreen Shipping Agency, secretary of SSA); and Christopher Lau (senior counsel, chartered arbitrator). The other four board members are Lam Yi Young (chief executive of Maritime and Port Authority of Singapore); Kuok Khoon Kuan (managing director of Pacific Carriers); Erik Borgen (regional director of DnB NOR Bank in Asia) and Goh Teik Poh (president of APL South Asia).