The exhibition, which will run from March 14 to 16 in Singapore, is expected to present plenty of opportunities for local maritime players to develop the maritime industry. Pic courtesy of Asia Pacific Maritime.

KUALA LUMPUR: Despite the challenging operating landscape in the maritime industry, the high number of participation at the Asia Pacific Maritime 2018 exhibition is seen as a positive sign.

The exhibition, which will run from March 14 to 16 in Singapore, is expected to present plenty of opportunities for local maritime players to develop the maritime industry.

Honorary Secretary, Association of Marine Industries Malaysia and Head of Planning & Development, Boustead Heavy Industries Corporation, Nazery Khalid said there were many opportunities for local maritime players to tap into.

“Even though the maritime industry in Malaysia continues to be in rough waters owing to overcapacity and tight financing, there are still opportunities for maritime players to tap into the Asean market with the Asean Free Trade Area (AFTA), which also expands into other regions, such as the Middle East.”

He said with the support of the government, Malaysia is set to become a self-sufficient and internationally-competitive nation.

“More players are looking at building new vessels that are more energy efficient and environmentally-friendly due to the tighter environmental regulations in the shipping industry.

“With the government lending support to the recent launch of the Malaysia Shipping Master Plan, Malaysia is set to become a self-sufficient and internationally-competitive nation that can benefit players along the maritime industry supply chain,” said Nazery.

Siong Ping Engineering Sdn Bhd director Jackie Chieng, who would participate at APM 2018, echoed similar sentiments.

“We forecast that the deck machinery market for tugboats, barges and land crafts will slowly increase this year. For Malaysia, recovery in the maritime industry will be gradual, but (we’re) optimistic,” he said.

Gimhwak Enterprise Sdn Bhd executive director Dr Renco Wong said the event would expose the maritime companies to adopt digital tools in their ship to track potential attacks and threats of piracy attacks.

“We expect new build orders to hike this year to fulfil new regulations set by industry associations or the local government. At Gimhwak, we are seeing a progressive demand for Liquefied Natural Gas in the region as companies are preparing ahead of the International Maritime Organisation regulation on green shipping,”

More than 40 leaders and experts from across the global maritime industry will lead pertinent discussions on the major trends and issues shaping the maritime, workboat and offshore industries, while sharing their insights and forecast to help players forge the way forward.

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