KR Webzine Vol.117

KR hosted the Korea Maritime Conference 2017 (KOMAC 2017) organized by the Ministry of Ocean and Fisheries and Busan City.

The conference, in its 2nd edition this year, examined shipping forecasts, shipbuilding and financial markets. Approximately 200 professionals attended  the conference discussing their expectations for shipping in 2018, such as climate change and global trends in the shipbuilding and ship finance sectors.

The conference consisted of three sessions. In the first session, an analysis of the shipping market was presented looking at each ship type. Mr. John Kearsey of SSY Research gave his insights on the outlook of the Bulk carrier market, Mr. Nicolas Savvides, Market Editor at IHS Fairplay, discussed the containership market, whilst Mr. Andrew Wilson, Energy Market Analyst of Alphatanker, offered his forecast for the tanker market in 2018.

Session Two focused on finance. Dr. Kim Dae-jin of the Korea Development Bank examined the Korean ship finance market and its outlook, and Mr. Duncan Dunn, vice chairman of The Baltic Exchange and CEO of SSY Futures, explained the trends in the rate index derivatives market which significantly effects freight rates for the shipping market.

In the final session, Mr. Liu Xun Liang, CEO of CNPI discussed the status of China’s shipbuilding industry, its challenges and future prospects. Mr. Lee Jeong-ryul, General Manager of KR’s ICT Center, examined the trends in automotive shipping and its outlook in relation to the 4th industrial revolution.

KOMAC 2017 offered a useful forum to share valuable information and opinions on new global trends in shipbuilding, manufacture and ship finance, while providing a forecast of change in the shipping markets for 2018.

KR will continue to create such opportunities, working to establish a strong platform to support the shipping industry and to develop risk management strategies for the market.