Resilient Asia Riding the Wave of Cautious Optimism

Cautious optimism and brighter lights now beacons the maritime community in Asia. Having undergone a tumultuous time in recent years fraught with mounting challenges, things are finally easing for the shipping industry. In light of this positive industry development, more than 1,500 leading international maritime companies will be converging at the 13th edition of the Asia Pacific Maritime to exchange ideas and showcase their latest marine engineering and port technology. Taking place between 19 and 21 March 2014, the 22 per cent increase in participation is expected to draw a record high visitorship of about 15,000.

Riding the wave of optimism
It is a game of catch-up for many. Maritime companies are now placing an increased emphasis on technological innovation to boost efficiency and productivity in order to get ahead of the competition. For many APM exhibitors, 2014 will be a better year as they remain resilient and focus on new strategies to overcome the challenges ahead. “The uncertainty that was facing the marine industry in the last few years has forced many companies to face the hard truth. In order to keep up with times, it is imperative to keep abreast with technological innovation so as to increase efficiency and secure the company’s future. For an industry that is traditionally conservative, we are now taking a longer-term view in technology adoption in order to keep the company’s competitive edge,” said Mr Ronald Tan, CEO, Jason Electronics Pte Ltd, Singapore.

Besides productivity measures, another driver of change seems to be the adoption of technological advances. Mr Ho Kah Huat, General Manager of the Power Systems Division at Tractors Singapore Limited concurs: “We can see an upward trend in the demand for technologically-advanced products. In 2014, we expect more end-users to adopt green technology such as hybrid systems in vessels instead of the conventional mechanical systems or diesel electric propulsion systems as the technology becomes more Reed Exhibitions A division of Reed Elsevier (Singapore) 2008 Pte Ltd 1 Changi

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