Daily News Briefing
News in and around LISW19
In the 09/13/2019 edition:
- Digital shoppers must understand the vital role shipping plays in delivering their goods, Princess Royal tells industry leaders
- Fourth Propulsion Revolution: ICS Reaches Beyond the Shipping Community
- Technology, geopolitical uncertainty and environmental regulations will force change throughout the shipping industry
Digital shoppers must understand the vital role shipping plays in delivering their goods, Princess Royal tells industry leaders
By Debra Massey on Sep 12, 2019 01:55 pm
Her Royal Highness The Princess Royal, Patron of Maritime UK, demonstrated the importance of London International Shipping Week (LISW) by attending a VIP reception at Banqueting House on Tuesday evening (September 10).
With her usual wit, charm and insight, Princess Anne spoke knowledgeably about the international maritime sector, the role of the seafarer, and modern global trade.
Addressing those among the 500 guests “with real faith in the digital world,” The Princess Royal raised a laugh by saying: “Feel free – I think we need a backup!”
Outlining the important role LISW plays in raising awareness of the depth and breadth of the maritime sector, she said: “The digital world is an interesting one and it’s quite ‘press button’. Somehow we’ve got to get across to those online shoppers that it doesn’t arrive from so far through the ether – it has to find slightly more prosaic ways of getting there.”
“You represent the vast majority of the method by which they receive the things that they press the button for,” she told LISW grandees, “This week is a really important part of understanding where our investments need to go.”
Her Royal Highness, a great supporter of the maritime sector, seafarers and the Royal Navy, said: “As an island we definitely need to understand the critical value of the sea to us and, as an island nation how to deal with it, and what it means to us in a much wider capacity.”
She advised: “If we want our trade to travel at sea, then the people who do that and the ships that they’re in, need to be as good as they can, so the people that back them up, the skills that they need, and the innovations that need to go with that to develop safer ways of transporting our goods by sea will remain a key to all of your interests.”
To the audience of shipping industry leaders, she said: “It is hugely encouraging to know that there are so many of you who have accepted the invitation to come and raise the profile of the maritime sector globally. I’m delighted that you are making this week what it is – an international event.”
The reception at Banqueting House, hosted by Her Majesty’s Government and Maritime UK, formally welcomed the many industry leaders and overseas Ambassadors to London for this premier shipping industry event, which features more than 200 meetings, seminars, conferences and round tables. Speeches were also given by the Secretary of State for Transport, the Rt. Hon. Grant Shapps MP; Rt. Hon. Nusrat Ghani MP, Parliamentary Under Secretary of State for Maritime; Lord Mountevans, Chair of the LISW Board of Advisors, and Harry Theochari, Chair of Maritime UK.
Further images can be found by visiting the LISW flickr page.
By Debra Massey on Sep 12, 2019 01:33 pm
A packed house of delegates was confronted yesterday with the reality of powering global trade without the use of fossil fuels. At the International Chamber of Shipping’s 2019 Conference – Setting Course for 2050 : Powering Global Trade, more than 30 influential speakers from around the world challenged the shipping community to fully explore the options open to the industry and the decisions it faces – decisions which will have implications beyond the sector’s own boardrooms.
Speakers included the Rt. Hon. Nusrat Ghani MP, Parliamentary Under Secretary of State for Maritime, Department for Transport; Kitack Lim, Secretary-General, International Maritime Organization, The Rt. Hon. The Lord Turner of Ecchinswell, Chair, Energy Transitions Commission, Dr Rhian-Mari Thomas OBE, CEO of the Green Finance Institute and Emanuele Grimaldi, President and Managing Director, Grimaldi Group S.p.A.
One of the most sobering statements came at the beginning of the day from Professor Anders Hammer Strømman of the United Nations Intergovernmental Panel on Climate Change who reminded the audience that “Depending on the amount of CO2 released, between 15 to 40% of emitted CO2 will remain in the atmosphere for up to 2,000 years.”
In his opening remarks on behalf of ICS Emanuele Grimaldi reflected on the challenge ahead and the ground-breaking agreement on CO2 emissions concluded in April last year, known as ‘The Paris Agreement for Shipping’. He reminded the audience that we are embarking on the most important transformation to face the maritime sector since the transition from sail to steam saying: “We all know that change is coming and as in all business the winners will be those who identify the opportunities and make the right decisions.”
He added: “It represents a fundamental transformation in the business of shipping, something that we at ICS call the Fourth Propulsion Revolution.”
Acknowledging the panel of speakers he concluded: “What is also clear is that we can’t do it alone. Without the support of consumers, policymakers, the finance community and suppliers the Fourth Propulsion Revolution will be stifled. We must all work together to mitigate the risk of transformation. Risk is our common language. And we need to reach beyond our own community to ensure that the risk is equitably allocated and priced.”
The packed agenda covered climate science, research and development, finance, policy instruments and the role of the Global Maritime Value Chain.
For more pictures on the event visit the LISW19 website.
Technology, geopolitical uncertainty and environmental regulations will force change throughout the shipping industry
By Sally Butler on Sep 12, 2019 12:29 pm
LONDON, 12 September 2019 – Global law firm Reed Smith yesterday hosted a panel of shipping experts to discuss the issues having the biggest impact on the maritime industry.
As part of London International Shipping Week, representatives from a cross-section of the industry took part in a lively debate on international trade and the wider industry including technology, environmental issues, sanctions and geopolitical uncertainty.
The panel members who took part in the event at Reed Smith’s Broadgate Tower offices in Shoreditch comprised:
- Nick Shaw, executive officer of International Group P&I and former global head of shipping at Reed Smith.
- Martin Stopford, president of Clarkson Research Services Limited and director of MarEcon Ltd.
- Admiral Sir George Zambellas GCB DSC DL, former First Sea Lord and apprentice and engineer by training, with transformation leadership expertise, especially in the delivery of breakthrough innovation performance.
- Leigh Hansson, Global Regulatory Enforcement group partner and a leading lawyer in Reed Smith’s International Trade and National Security team.
Panel moderator and Reed Smith partner Sally-Ann Underhill introduced the first topic of discussion – technology. The panel’s consensus was that technology has the potential to significantly change the shipping industry but it is still some way from the ‘inflection point’ i.e new technology is not yet transforming the industry.
The collective view from the panel was that big data is likely to be a key driver of any change but shipping companies will need to collaborate in order to standardise and ensure the quality of the data. Without this collaboration the sector is at risk of disruption from new players that are far more advanced in their use of technology.
The ‘green agenda’ and environmental regulations were also key topics of the panel discussion. It was broadly agreed that the shipping industry is reasonably prepared for IMO 2020 but the true test will come when the new regulation comes into force and it is able to understand how various jurisdictions are going to approach enforcement.
The panel also addressed the changing geopolitical situation and its impact on the shipping industry. In particular the US-China trade war was said to be a force that might result in a reshaping of trade flows.
Underhill said: “The industry is facing a somewhat unprecedented time of change. Technology has the potential to revolutionise the industry, the current geopolitical landscape and rise of protectionism is redirecting trade flows and the green agenda are all forcing change. Shipping organisations need to be sure they are compliant with current and emerging legal frameworks as they look to address these challenges and opportunities.”
The current sanctions landscape was also discussed, with advice coming from Reed Smith partner Leigh Hansson that ship owners and managers need to be carrying out sufficient due diligence in order to not breach, in particular, the US sanctions regime.
Hansson said: “OFAC is putting a greater onus on the shipping community to know who they are doing business with. It needs to be aware of the warnings that OFAC is publishing but also keep abreast of information available in the public domain – it cannot simply rely on the information coming from the agency. Ignorance will not stand up against the strict enforcement approach taken by the US.”
Reed Smith’s Transportation Industry Group would like to thank Nick, Martin and George for joining the panel and sharing their views on the future of the shipping industry.
Baltic Exchange launches new ship operating expenses assessment
ABS Supports Amver Awards Honoring UK’s Commitment to Saving Lives at Sea
DNV GL: Flexibility is the key as shipping transitions to a lower carbon future
Inmarsat landmark study identifies critical role for maritime startups
Port of Southampton and Government launch UK first Port Economic Partnership