Growing Importance of Asian Shipping
 
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Growing Importance of Asian Shipping

      7/12/2005

Growing Importance of Asian Shipping

The newly launched Centre for Maritime Studies in Singapore is the first of its kind in Southeast Asia and will focus on research-oriented activities. Singapore is ideally suited to be an international maritime centre given its global shipping links being connected to 600 ports in 143 countries and serviced by 250 shipping lines. About 25 percent of the world's trans-shipment cargo passes through Singapore and over 40 percent of the new ships are owned by Asian owners. Yeo Cheow Tong, Transport Minister, said: "At the moment, much of the commercial research on maritime matters is led by European institutions. With the growing importance of Asian shipping, it is important that there is a leading maritime research institution based in Asia."

The Centre for Maritime Studies will focus on research to provide strategic guidance for industry players. This can be vital given the growing demand for shipping, and recent mergers and acquisitions deals like when Danish shipping line Maersk took over P&O Nedlloyd. A concern was expressed that big mergers may have huge impact on the container line service and sway the market. Already, major container lines, like OCL, Cosco, or NYK, are quietly discussingwhat is likely to be the impact and how are they going to deal with the situation when the EU approves the merger of P&O with Maersk Line.


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