The dynamism of the global maritime industry has given industry leaders optimism for what 2018 has in store.
“Global oil demand growth is strong and export-oriented refinery capacity is increasing to meet this demand. The shift of short-term oil market dynamics, coupled with underlying strong demand growth and declining supply growth, is setting the stage for a seasonable rebound, at least in the mid-range product tanker market,” said Gernot Ruppelt, Chief Commercial Officer, Ardmore Shipping Corporation.
Ruppelt will be shedding more insights on the tanker market during his session at the 15th Asia Pacific Maritime (APM) maritime, workboat and offshore exhibition and conference.
APM will present its strongest lineup of keynote and conference speakers when it takes place in Singapore from 14 to 16 March 2018. The speakers will cover major trends and issues shaping the maritime, workboat and offshore industries, while sharing their insights and forecast to help players forge the way forward.
Among the topics to be discussed will be the International Maritime Organization’s (IMO) global cap on marine sulfur emissions, set to enter into force in January 2020. Further restrictions on nitrous oxide (NOx) emissions will take place in January 2021, and longer term carbon dioxide (CO2) marine emissions might also be curbed.
“The international shipping community faces a tough situation, as vessel owners and operators will need to retrofit their vessels or do new-builds by 2020 in order to meet the IMO’s requirements. However, they must also consider the longer-term NOx and CO2 restrictions, and which technology will help them achieve a long-term, economically-viable and environmentally-friendly marine footprint,” said Dom LaVigne, Director of Government & Public Affairs – Asia Pacific/Middle East, Methanol Institute (MI).
In addition to the inaugural APM Leaders’ Forum on March 14, 2018, the three-day APM Conference will also cast the spotlight on the vessel market on March 15, specifically the outlook for the tanker market, shifting trends in maritime finance and an in-depth look at Vietnam’s growing maritime industry. Day three, March 16, will see industry leaders examine the maritime industry’s priorities in marine fuels, the latest hybrid technologies and offshore prospects.
Image Courtesy: Asia Pacific Maritime