Seatrade Maritime Middle East 2016 (SMME), a major event that addresses continuing impact of the global downturn and importance of sector to regional economies, opened today (October 31) in Dubai, UAE.

Taking place at the Dubai World Trade Centre until November 2,  the event was officially inaugurated by Sultan Ahmed bin Sulayem, Group chairman & CEO of DP World and chairman Dubai Maritime City Authority (DMCA) in the presence of Troels Lund Poulsen, Minister of Business and Growth, Royal Danish Consulate General and Chris Hayman, chairman, Seatrade and senior officials.

Shortly after the official opening, Seatrade had already witnessed its first major contract announcement, with Jawar Al Khaleej Shipping (JAK), a leading specialist services supplier to the offshore oil and gas sector in the Gulf, signing an agreement with Damen Shipyards Group, for the supply of three vessels, one Fast Crew Supplier and two ASD Tugs.

The opening economic forum session chaired by moderator and broadcast journalist, Eithne Treanor, featured a high profile panel line-up that effectively set the scene for three days of insightful conference discussion.

Panelist Tim Fox, head of Research and chief economist at Emirates NBD said: “While there remains a lot of macroeconomic “issues and challenges”, the global economy is not as bad as feared at the beginning of the year. The oil price has recovered from $30 per barrel to $50, China’s economy has stabilised, and the US is in a stronger position than in Q1, he said. Also, the economy of India - the UAE’s main trading partner (ahead of China) - is showing 7 per cent growth and appears ‘resilient’.”

Another highlight of the three-day event was the opening of the 61st annual International Ship Suppliers & Services Association (ISSA) Convention, which has partnered with the UAE National Ship Suppliers Association (UNSSA) to deliver a one-of-a-kind event for maritime industry professionals, opened this morning, with a keynote address from Saeed Al Malik, chairman UAE National Ship Suppliers Association (UNSSA) and VP ISSA.

“With global economic growth shifting eastwards, the UAE aims to benefit from its geographical location. The UAE and regional maritime sector should adopt an effective strategy to increase its connectivity with the rest of the maritime world,” said Al Malik.

Tomorrow presents an action-packed schedule, opening with the Seatrade Tanker conference featuring a number of the industry’s most respected experts.

A brace of technical forums will dominate the early afternoon with sessions examining the critical issues facing an ever-changing seascape in terms of shipping and environmental challenges shipping and environmental challenges, followed by a lively discussion on Crewing: The vital interface, both held in association with IMarEST.

With demand for technically proficient crew still exceeding supply, the panel will debate the full gamut of contributory factors such as the role of human behaviour in safety at sea and the impact of unmanned ships, the tricky topics of contract ‘sweeteners’ and the possibility of increased funding for industry relevant university and diploma courses.

Held under the patronage of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, SMME, a biennial event, now in its eighth edition, focuses on industry issues from commercial marine to offshore, ports, piracy and energy services. The show is expected to attract more than 7,000 participants from 66 different countries. – TradeArabia News Service