A new initiative in the form of a by-invitation forum named Maritime Capital Forum is expected to take place in mid-November this year in Singapore, led by SSA and supported by an investment house, according to Lee Keng Mun, SSA Councillor, Finance Workgroup, MANA correspondent reported.
Lee told a media briefing held on Monday in Singapore as part of the Singapore Maritime Week 2017 that the forum, which will not happen on just a one-off basis, will aim to educate investors who are not familiar with the shipping sector, and create a platform to bridge serious investors with shipping players.
“Both the equity and debt markets have suffered from a lack of investor confidence, and the capital forum can inform investors on how different shipping is compared to other sectors, what investments are needed, and ultimately we hope to grow the debt and equity markets in Singapore,” Lee said.
Shipping and offshore companies listed on the Singapore Stock Market (SGX) are going through a challenging period due to the industry downturn.
Amidst the restructurings and bankruptcies seen for Singapore-listed shipping and offshore companies such as Rickmers Maritime, Swiber, Swissco and Nam Cheong, Lee pointed out that investors need to understand that the maritime market is cyclical and to see the value proposition.
Poulsson concurred: “There are still investors around that are opportunists and looking at value proposition.” He added that SSA continues to remain active in engaging all the relevant stakeholders in the fields of ship finance and marine insurance, and collaborating with the SGX with an eye to increasing listings from the maritime sector.