2008 Summit Schedule
Monday 24 November
18.30 Registration
19.00 Gala dinner
Tuesday 25 November
08.30 Registration and breakfast coffee
09.00 Welcome and introduction from the co-organisers
Trond Lillestolen, Publisher-in-Chief, TradeWinds
CHRISTOPHER HAYMAN, Managing Director, Seatrade
09.40 Opening Address by a senior representative of Government of Turkey
10.00 Keynote Address
10.20 Session 1 – Turkey’s Maritime Industry in Transformation
- What shipping’s record markets mean for Turkish shipowners?
Booming markets have resulted in shipowners worldwide achieving almost unprecedented liquidity. How have Turkish owners taken advantage of the positive conditions? - What Turkish shipping opportunities mean for overseas investors?
As Turkish shipping opens increasingly to the world markets, it also presents overseas investors with the chance to come into the sector with mutually beneficial tie-ups with Turkish companies. - Cargo generation: Middle East as a trading partner
Rapid economic development is generating a wide range of new international and regional trades. With an infrastructure embracing multi-mode port facilities, a well-developed trucking network to the east and short sea ro/ro services, Turkey is well-placed to assist in Mid East development.
11.20 Floor discussion
11.40 Coffee/tea break
12.00 Session 2 – Money and Ships
- Finance for Turkish shipowners
The sub-prime fall-out continues to have repercussions for the global banking community and may have contributed to a temporarily reduced flow of debt into global shipping. However, shipping bankers are still on the look-out for projects with appropriate gearing, sound business strategies and clear access to future cargo flows. - Financing new shipyards
Conventional shipbuilders in southern Europe are suffering from high costs and lack of space. In Turkey, newly developing yards offer the scope to incorporate the latest in ship construction technology and to expand the country’s capacity, while presenting an interesting finance opportunity at the same time. - Ship prices and values
With secondhand ship values at record levels and newbuilding prices showing no sign of a downturn yet, ship financiers are watching loan-to-value covenants closely. Frequent and independent ship valuation by experts in this field is seen as an increasingly important component in a bank’s risk management armoury.
13.00 Floor discussion
13.20 Lunch sponsored by
15.00 Session 3 – Turkish Shipbuilding: Expansion and the Future (with coffee/tea break 16.30 – 16.45)
- World shipbuilding capacity – shocks ahead?
The last time demand for ships outstripped supply just over three decades ago, an excess in world shipbuilding capacity led to a decade of misery for many builders. Today, shipyards globally are working profitably at close to full capacity, with orderbooks extending to the end of the decade and beyond. Does new capacity threaten to upset this balance? - What the record orderbook has meant for Turkish shipbuilders?
Record demand for new ships has resulted in the world’s largest-ever orderbook. More than 8,700 ocean-going cargo vessels are currently under construction or due to be built in the months ahead. The lion’s share of contracts may have been booked by leading yards in the Far East, but climbing prices and a seller’s market there present new opportunities for niche yards, with special expertise, and a more bespoke service. - Why new shipyards are still needed?
In shipbuilding productivity, automation and effective working practices have proved to be key components for success. But new shipyards offer a range of potential competitive advantages, including improved site planning and the latest developments in construction technology. - Are Turkish shipbuilders secure in specialisation?
Turkish shipyards have specialised in building smaller chemical tankers for years. The sector shows a steady demand for tonnage to service regional and inter-regional trades. Will the specialisation continue to be attractive in the coming years? - Small tankers and IMO regulations
2008 is a crunch year for the small tanker business. IMO, EU and US regulations have a bearing on the future of around 3,300 tankers of less than 5,000 dwt whose owners are having to decide whether to stop carrying certain cargoes, add class-approved double-hull arrangements on board their ships, or scrap them. Significant replacement demand is inevitable.
17.30 Floor discussion
18.00 Farewell drinks