Middle East Money & Ships to examine regional ship registration, 4-5 November 2007
Discussions are underway to make it more attractive for ship owners to fly the United Arab Emirates flag on their vessels.
The move is being driven by the recently formed UAE Ship Owners Association as the regulatory environment and procedures for the registration of ships in the region come under scrutiny in November at the Middle East Money & Ships 2007 conference.
The conference, focusing on contemporary issues in maritime finance, was developed by Seatrade over 30 years ago. Previously based in London, the conference moved to Dubai in 2005 to examine the region’s changing relationship with shipping and the emergence of strong investor interest.
From 4-5 November 2007 at Mina a’Salam, Madinat Jumeirah, the Money & Ships conference returns to assess growth in the region and the new entrepreneurial approach which is transforming the maritime sector.
One of the aims of the UAE Ship Owners Association which, alongside DP World, is a supporter of the conference, is to promote the UAE flag internationally by proposing amendments to authorities and streamlining procedures and associated legislation for the registration of ships under the UAE flag.
“We want to see something based on, say, the Singapore flag,” said Captain Jitendra Misra, General Secretary of the association and Managing Director of Emarat Maritime. “We would have to ensure it embodies the highest standards as the government would insist on that.”
The association’s president, Major General Sharafuddin Sharaf, also Vice Chairman of Sharaf Group, will provide the keynote address at the conference on the state of the maritime industry in the region. He will be examining key market sectors and growth drivers in ship owning.
Other speakers on regional developments will include Ahmed Essa Hareb Al Falahi, CEO of Gulf Energy Maritime, and Mohammad Souri, Chairman and CEO of the National Iranian Tanker Company, a sponsor of the conference.
Financing options for ship owners, including debt and equity finance; Shari'ah compliant instruments; Islamic insurance; and finance for the offshore industry will come under the spotlight with speakers including Jasamin Fichte, Managing Partner of Fitche & Co. Fitche, a conference sponsor, is the only international law firm operating in the Middle East headquartered in Dubai that also maintains an office in Iran.
A Charterers Forum will examine the supply and demand outlook; quality in shipping; and inspection regimes.
Dubai Maritime City and Lloyds Register are also sponsoring the conference. When completed, Dubai Maritime City will become the world's biggest and most comprehensive maritime complex, spread across 227 hectares of man-made peninsula between Port Rashid and Dubai Drydocks. Lloyd's Register is a maritime classification society and independent risk management organisation.
The Seatrade Middle East & Indian Subcontinent annual regional awards, recognising maritime safety and environment, ship and port operations and security, plus port and shipping business efficiency, will follow this year’s Money & Ships conference.
With 25 categories, the award scheme’s Gala Presentation Dinner will be staged at Al Johara Ballroom, Madinat Jumeirah, Dubai, on the night of 5 November 2007. This high level event is expected to be attended by around 800 senior executives from the region’s maritime industry.
For over 20 years Seatrade has presented international awards championing high standards of quality in shipping issues. This regional scheme is designed to celebrate and reward excellence and innovation originating in the Middle East and India during the previous 12 months.
The awards include a Lifetime Achievement Award to honour an individual who has made a significant and lasting contribution to the shipping and maritime industry in the region.
For more details about the conference, please visit: www.moneyandships.com
For more about the Seatrade Middle East & Indian Subcontinent Awards, visit www.seatrade-middleeast.com/awards
