2 November 2009
India Shipping Summit calls to protect the tigers
In a packed fifth annual India Shipping Summit, held at Mumbai’s Grand Hyatt Hotel from 20-22 October, leading maritime figures aired animated views on some of the industry’s burning issues.
From the outset of the opening session of the two-day conference there was passionate debate about governmental incentives needed to revitalise the Indian shipping industry. Panellists, SCI chairman and md Sabyasachi Hajara and Varun Shipping chairman and md Yudishthir Khatau, both spoke of the need for enforcement of cabotage rules that will see transport of coastal trade exclusively by Indian flagged vessels. They also asked for preference to be given to local shipping companies for EXIM trade.
Mr Khatau, who is also President Designate of BIMCO, praised ISS for bringing Indian shipping closer to the international shipping fraternity. He spoke of the importance of a level playing field for both parties and gave an impassioned speech comparing Indian shipowners to endangered tigers. 'It is important to remember that like the tiger, the shipowner is a symbol for a larger ecosystem. By protecting and championing the tiger, you are actually protecting the forest and all its reserves that benefits many other animals. Similarly, there is an enormous value chain that is linked to Indian Shipping, which will benefit from support for shipowners. It is vital that the maritime community like the forest continues to grow'.
‘India has tremendous spirit’
He remained optimistic about the country's maritime future in the face of the economic slowdown. 'India has tremendous spirit and so we are fighting off the recession much better than many of our non-Asian counterparts.'
Khatau, pinpointed issues such as unfavourable ship and debt finance conditions, the infamous dirty dozen’ taxes that cripple Indian shipowners and the lack of protectionist policies by the government.
Tobias König, Managing Partner, König & Cie KG, backed up his views on the need for a level playing field that would encourage foreign investment in the Indian maritime sector. ‘India doesn’t need a think tank,’ he exclaimed, it needs a do tank!’
Attendees also benefited by a wider overview from presentations by Standard Chartered’s head of ship finance Nigel Anton and Clarkson Research Services md Dr Martin Stopford, with the latter outlining potential solutions to the ‘toxic orderbook’ situation faced by world shipyards.
‘The need to go green’
The second day saw active debates in the morning discussions dealing with ‘opportunities in the Indian energy sector’ and ‘Shipping and the need for going green’. The latter topic is particularly pertinent to the industry in light of the Copenhagen Climate conference scheduled for December 2009 conference and showcased a number of solutions to deal with emissions through presentations from speakers such as Ms Lakshmi Venkatachalam, DG Shipping for the Government of India and Helge Kjeoy, DNV regional director for the Middle East and Asia, whose presentation highlighted the impressive cost savings to be gained from investments in technology, design modification and energy optimisation.
All in all, this was a powerful two days of discussion and debate spanning a wide range of maritime issues. The 450 plus participants were both enthusiastic and proactive during the sessions and appeared to take a great deal away from the gathering.
S Hajara, chairman and md of SCI, and president of INSA, said ‘Despite being at the root of international trade, Shipping is never remembered. That is why we need platforms like ISS to bring us into the limelight and also for networking.’
If the flurry of business cards passed around at the end of the event was any indication, the Indian maritime sector continues to present attractive investment and growth opportunities.
Notes to the editor
- The event, which was inaugurated by A.V.P.N. Sarma, Secretary for the Ministry of Shipping in the Government of India, provided a platform for interaction and networking by over 450 representatives from the domestic and international maritime industries.
- The event is jointly organised by Seatrade and TradeWinds
- Next years event is already being planned to take place in Mumbai – please check the website for updated details.
- For more details visit www.indiashippingsummit.com or please contact John Foreman, Head of Marketing at jforeman@seatrade.global.com or Jon Chaplin, Director, TradeWinds at jon.chaplin@nhstevents.com
