27 April 2012 Inaugural Seatrade Offshore Marine Asia (SOMA) Ends on a High
The inaugural Seatrade Offshore Marine Asia (SOMA) conference, which came to a close at
the Suntec Singapore International Convention and Exhibition Centre today, ended on a
high as delegates participated in the final industry panel discussion. The "Technical and
Environmental Challenges" session highlighted how Liquefied Natural Gas (LNG) could
hold the key to a cost effective and environmentally efficient industry.
Seatrade chairman, Chris Hayman said, “With soaring global demand for energy, the Asia-
Pacific region continues to grow as a major global player in the offshore marine industry.
The calibre of attendees at this week's inaugural SOMA conference was testament to the
confidence the industry has in the future growth and development of this sector in the
region. Conference delegates were extremely optimistic that the region will continue to go
Over the course of the three-day conference, experts across a variety of industries came
together to discuss the dynamics of the offshore marine sector, its opportunities and the
changing strategies of industry players. The conference highlighted the strong demand for
offshore support services, and the industry's evolving service requirements as energy
players increasingly explore opportunities in deeper waters.
The final panel discussion at SOMA addressed the technical and environmental challenges
currently facing the offshore marine industry. A major highlight was the potential of LNG as
the key to a cost effective and environmentally efficient shipping industry. While recognising
the opportunities LNG has to offer, the industry acknowledged it faces challenges such as
the current lack of infrastructure, technology and the costs associated with adopting LNG as
Dr Lorenzo Casarosa, Senior Consultant in DNV's Clean Technology Centre said:
“Replacing conventional shipping fuel with LNG could hold the key to a cost effective and
environmentally friendly industry. LNG offers significant benefits over traditional fossil fuels
as it is cleaner than oil. However, the region faces certain challenges when it comes to
utilising this fuel source, including a lack of infrastructure, no "flag state" regulations, the
expense of new build and retrofitting and uncertainty around the price of LNG. However I‟m
Demo Version - ExpertPDF Software Components
confident these challenges can be addressed and the region is well placed to lead the way
During the course of the first two days of SOMA, participants agreed that the whole industry
needs to improve training and employee retention, with global training standards a potential
solution to developing talent in the industry. Industry fragmentation was also discussed and
identified as a barrier to the expansion of Asia's offshore marine industry. Looking to the
future, the industry saw the region's capacity to meet the increasing demand for Floating
Production, Storage and Offloading (FPSO) units a major challenge, as oil companies push
technology to the limits to drill deeper to renew their energy sources.
Mr Hayman said, “As Asia continues to lead the growth in demand for energy, opportunities
to develop the region‟s offshore marine sector abound. Seatrade will continue to support,
Sample footer: http://www.smw.sg/media_corner/2012_27Apr_soma3.html. You can change color, font and other options
Emerging Trends in Health Care for Employers and their Employees Designing Incentive Programs That Work for Your Organization I ncentives have long been a part of wellness initiatives. Recently, however, several developments in health care benefits management are leading to the need to place greater emphasis on incentives to motivate employees. With the continued rise in health care co
PREFERRED GENERIC DRUG LIST These discount programs are NOT health insurance policies and are not intended as a substitute for insurance. The programs do not qualify as a minimum creditable coverage under Massachusetts law or where prohibited by law. The programs only provide for discounts on health services from participating pharmacies, and the range of the discounts will vary depending o