Following a whirlwind Hong Kong Maritime Week chock-a-block with great organised activities, and formal and informal networking amidst thousands of maritime professionals, the numbers are now coming in.
1 The 8th Asian Logistics and Maritime Conference was the most successful yet. Some 2,270 participants from 34 countries and regions attended in order to imbibe the knowledge and expertise of 74 speakers and moderators. ALMC 2018 received global coverage courtesy of 31 media partners from 13 countries and regions. Some 119 exhibitors from 11 countries and regions opted to exhibit at this year’s ALMC, as 165 business-matching meetings took place across two days.
2 Although the exact attendance numbers at Hong Kong Maritime week are yet to be confirmed, on-the-ground witnesses report a high percentage of Hong Kong Maritime Week events (including our own Asia Maritime Breakfast Briefing) took place before capacity audiences.
3 Trade wars may be harmful to participating countries but shipping stands to benefit from the establishment of new trade routes, new trade relationships, and possibly more tonne miles.
4 Sulphur Cap 2020 will lead to higher freight rates as shipowners who opt for low sulphur fuel sail at slower speeds, and more vessels are recycled.
5 Tanker market is likely to benefit from sanctions imposed on Iran could take up to 30% of capacity out of the market.
6 Anglo Eastern Group chief executive, Bjorn Hojgaard’s branding of Sulphur Cap 2020 as a “red herring”, which detracts from the long term objective of decarbonising the shipping industry, gathers traction as the quote of the week.
7 A number of Classification Societies continue to tout LNG as the interim solution to the IMO’s 2050 decarbonisation strategy to a largely sceptical shipping industry that is looking to permanent solutions.
8 Marine insurers will look to access the vast amount ships’ data to more accurately assess risk
9 No Peak Container in sight.
10 More P&I Clubs have a presence in Hong Kong than in London. Seven out of 12 P&I Clubs in Hong Kong now fully licensed with two more in the pipeline