Issue One – January 2010
 
"SMF is grateful for the support from the maritime partners, from offering scholarships, giving their invaluable time to contribute articles, to being part of our workgroups and working committees..."

It’s my pleasure to present you the inaugural newsletter of SMF. The Singapore Maritime Foundation (SMF) is a private sector-led organisation established in 2004 to develop and promote Singapore as an International Maritime Centre (IMC), in partnership with the government and maritime community.

Through this newsletter, we hope to update you on the initiatives of SMF and highlight some upcoming programmes. We have also included a special segment, Frankly Speaking to reflect the candid side of our maritime leaders.

2009 was a very challenging year for the maritime players, both in the private and the public sectors. At the international maritime scene, freight rates collapsed, bank financing almost came to a halt and stocks plunged in equity markets. The economic crisis hit the Singapore maritime sector hard too. Many companies implemented cost-cutting measures and froze employment to reduce their overheads.

Despite the economic crisis, many partners remained committed to SMF’s endeavour to grow the maritime talent pool and our efforts to make Singapore one of the leading international maritime centres. SMF is grateful for the support from the maritime partners, from offering scholarships, giving their invaluable time to contribute articles, to being part of our workgroups and working committees.

The worst seems to be over and there are definitely reasons to celebrate in 2010. We have emerged from the crisis, stronger and ever more ready to embrace new challenges. Internally, there have been changes to the SMF Board. We welcome the injection of new leadership but at the same time, we wish to express our heartfelt appreciation of the Board members who have guided us and have been exemplary as stalwarts in the maritime industry.

SMF would strive to push the Singapore maritime industry to greater heights. We look forward to your continuous support in 2010. We hope you would enjoy this first edition of our newsletter.

With best wishes,


Michael Chia
Chairman
Singapore Maritime Foundation