The Business Times

Striking a balance

There is a need for some very serious rethinking of the basic principles underlying international maritime trade

Published Tue, Oct 1, 2013 · 10:00 PM
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LAST Thursday was World Maritime Day, which the International Maritime Organization (IMO) marked with a symposium in London on the topic of a sustainable maritime transportation system.

IMO Secretary-General Koji Sekimizu told the gathering: "It seems inevitable that shipping must be at the heart of sustainable development, and that shipping itself must, therefore, ensure that its own development is also sustainable. The sustainable development and growth of the world's economy will not be possible without similar sustainable growth in shipping and, therefore, in the entire maritime sector."

Maritime and Port Authority of Singapore (MPA) chief executive Lam Yi Young, the keynote speaker, said that the government needs to strike a balance between development of maritime transportation and protection of the marine environment. "We cannot afford to have development and growth at all costs without regard for sustainability and quality of life, but we also cannot afford to stop maritime development completely, given that (the) maritime (industry) is an important lifeline and…

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