Over 200 top executives from across the maritime world met this morning at the start of the first Global Maritime Forum annual summit to brainstorm over solutions to the unprecedented challenges facing the industry.
Over two days, the forum will hear both industry specialists and outside speakers debate and argue over the how to address the questions presented by digitalisation, decarbonisation and threats to globalisation.
“The concept is to bring together the leaders of many players in the maritime cluster to find collaborative solutions to the challenges facing the industry,” said Peter Stokes, head of shipping at Lazard, and chairman of the forum.
“That’s what makes the Global Maritime Forum unique.”
The forum grew out of the Danish Maritime Forum, which was set up by former senior AP Moller executive Flemming Jacobs and ran for three years to 2016, being loosely modeled on the World Economic Forum held in Davos each year.
Stokes said the impact of the Danish forum was sufficient to encourage the formation of a not-for-profit concern to continue its work as a place for the industry to come together and debate critical issues.
Jan Dieleman, head of ocean transportation at Cargill, told TradeWinds today: “This is a unique gathering of the broader industry which can help us all. It is unique to hear so many voices together. After all, no one can solve the questions we face on their own.”
Selection of Hong Kong as the location for the first summit was significant, said Stokes.
“It had to be in Asia, which is the centre of gravity of world maritime trade. The government in Hong Kong has been very supportive.”
Stokes added that the challenges facing the industry are unprecedented, and that the ambitions of the forum were ambitious.
“In my 45 years in shipping, I have never seen a time in this industry where there are so many uncertainties, or potential areas of uncertainty.”
Challenges to the industry were being presented by new regulations, by potential for disruption from outside players, geo-political concerns, and the path to decarbonising the industry.
“All these are issues which require joined up thinking.”
Marcus Baker, chairman of the global marine practice at insurance broking giant Marsh, said: “I was so inspired by what happened in Copenhagen that I felt it important to be involved in the longer term development of the forum.
“I hope that we can help elevate the level of conversation about some of the aspects of risk in the maritime world, to address the challenges we all face.”
Marsh lead research into risk for the first Global Maritime Issues Monitor which was published this morning.
Harry Banga, chairman of Caravel said he was interested to take part in the debate: “Shipping has hardly changed in 300 years, but the business is now facing a host of challenges, from digitalisation to globalisation, which will reshape it in the years ahead.
“It’s important to be part of the conversation about how we are all going to manage that change.”
