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PIL’s Chairman S.S. Teo conveys full support of maritime digitalisation

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SINGAPORE : Mr. S.S. Teo, Executive Chairman of PIL, was invited to deliver a keynote speech on the topic of ‘Increasing the Potential of Digitalisation of the Shipping Industry and Supporting the Integrated Development of Regional Comprehensive Economic Partnership (RCEP)’, at the second World Maritime Merchants Forum – Digital and Intelligent Transformation in Ports and Shipping Industry Forum, held in Hong Kong on 16 November 2022.

In his speech, Mr. Teo covered four key points – an overview of the efforts to accelerate the digital development of the maritime industry; the current situation and PIL’s digitalisation journey; the challenges faced by the industry; and ways to tap the potential of digitalisation to drive the integrated development of RCEP.

Mr. Teo said that “The future of shipping not only revolves around shipping companies and ports, but also includes digitalisation, supply chain, among others. All of which requires an integrated development approach. In the post pandemic era, accelerating digitalisation will remain a key focus in the maritime industry. We have to seize the opportunity and embrace the challenge. PIL is pleased to be working alongside members and partners in the industry to contribute towards improving the efficiency of the supply chain through digitalisation.”

Mr. Teo added that PIL is a founding shareholder of the Singapore Trade Data Exchange (SGTraDex). SGTraDex was launched in 2021 by the Infocomm Media Development Authority of Singapore and PSA. It is a trusted, secure, and easy-to-use digital utility which seeks to connect ecosystem partners in the Singapore and global supply chains via a common data infrastructure.

This is the second World Maritime Merchants Forum and it was hosted by Mr. Erick Yim, Vice Chairman of China Merchants Port Group. Mr. Chen Yingming, Executive Vice President of China Ports and Harbours Association, and Mr. Wang Xiufeng, Vice Chairman of the Board and Chief Executive Officer of China Merchants Port Group addressed the Forum participants. 

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