Rabobank’s Senior Asia-Pacific Strategist, Michael Every writes about why we stand on the edge of a potential global trade war, which many see as irrational.
Financial markets are not pricing for it partly because the irrationality seems to reduce the probability of this outcome. However, there are multiple interpretations of what ‘rational’ means for all actors involved. One can make the argument the US and China are both acting rationally, while assumptions that our global system is rational may themselves be irrational! On that basis, the risks of trade wars may be higher than markets currently suggest. Go to here to read the article.
On the 11th of April 2018 a group of 54(!) Dutch students, including a few teachers, from the Avans Hogeschool in The Netherlands visited the Singapore offices of ADB-Dutchcham Maritime & Offshore members Mammoet and Boskalis-SMIT. The students were making a one week study and cultural trip to Singapore as part of their “Civil Engineering Tour 2018” and they were all in their final year of studies. They had described themselves as ‘eager and enthusiastic’ which indeed they were; it turned out to be a very nice and interactive day.
Two groups were formed which would change over to the other company by busses after lunch. As both companies are involved in heavy duty services which contain practical and relatively dangerous working circumstances the general aspect of safety was emphasized and the students received the mandatory safety instructions.
At Mammoet the students were separated into smaller groups, allowing for a closer interaction. The first group was guided by Mr. Nobuaki Izumi and Mr. Raymond Yeo into a deeper understanding of how Mammoet is organised in Asia, where challenges are faced and how business is typically done. A good lecture was held on cultural aspects in the business environment in Asia while at the same time remaining a typical Dutch company with a long history. Furthermore potential future markets and business outlook were discussed.
At the same time the second group had a technical deep dive into engineering aspects, educated by Mr. Roel Wesel. This group focussed on two past projects. The first project was a major jacking operation of an offshore oil platform in South Korea. The second project was an offshore lifting operation of another oil platform, this time in the Philippines. Both projects followed completely different fabrication and installation methods, but both were handled by the team of Mammoet Singapore. The students in this group went into deep technical topics such as bending, uneven settlements, wave heights and computer calculation models. Halfway the visit, the students switched rooms and could follow the other explanation, providing two completely different views on the heavy lifting market in Asia.
At Boskalis-SMIT the students were given lively presentations on the topics Offshore Energy as well as Salvage and wreck removal, which both have many common grounds with the students’ interests and knowledge on Civil Engineering. Mr. Anshu Sahay of the Offshore Energy Department focused in his presentation on Heavy Marine Transport and Boskalis’ recently completed record-breaking transport of a huge FPSO on a semi-submersible vessel to West Africa. Furthermore the engineering and operational challenges of the float-over and installation of a topside (upper structure of an oil platform) in Norway was discussed.
Mr. Dave Wisse of SMIT Salvage educated the students on the fast moving and at times spectacular world of marine emergency response and wreck removal. A case study was discussed, including some impressive videos, of a recent successful fuel oil recovery and wreck removal job of a laden container vessel which had grounded and broken up during heavy storms in Taiwan. Finally, the students were taken on a tour around SMIT’s warehouse and yard where the various state of the art salvage equipment, harbour tugs and crane vessels were shown which are all generally used in SMIT’s salvage operations in the Asia Pacific region.
Last but not least in the evening the students were joined to the famous hawker centre Lau Pa Sat in the CBD where they enjoyed the delicious local Asian meals and great atmosphere of the venue. All in all a very successful and fruitful day. Mammoet and Boskalis-SMIT wish the students all the best with finishing their studies and starting their careers in the near future.
The ADB-DutchCham invites applications for the position of:
Business & Committee Manager (3 days per week).
This role is a maternity cover from 1 September 2018 to 1 January 2019.
ADB-DutchCham is a membership-based organisation composed of corporate members and Dutch Professionals in Singapore. As of 1 January 2018, the Association of Dutch Business people (ADB) and Dutch Chamber of Commerce merged into ADB-DutchCham (ADC). For more information please visit https://adb-dutchcham.sg/.
Dutch Drinks Singapore is a monthly get-together for Dutch expats living in Singapore and a great occasion to meet fellow countrymen in the little red dot we call home for a while.
In January 2018 the committee Dutch Drinks Singapore started with the new members Eline van Dijke-Nouwen and Ruud Kreuk with some ‘fresh’ ideas! The same happened in Shanghai with the Barry Dunselman as the new event committee member of the Nederlandse Vereniging Shanghai also known as NVS.
NVS wants to boost the social events for Dutch expats in Shanghai. Similar to Dutch Drinks Singapore the NVS wants to offer monthly events to explore the finest locations of Shanghai with an open and easy character of bringing people together.
Recently, Dutch Drinks Singapore and NVS started to cooperate closely and share their network. 2018 will be all about new ideas and events without losing the touch of the original meaning of Dutch Drinks; to offer a social & open platform to meet with your friends and future friends at special locations.
To boost the ‘fresh’ start we launch this April in Singapore as well as in Shanghai with the new Dutch Drinks logo. A refreshing new design with the old touch!
Stay tuned via Facebook* for the next event of Dutch Drinks Singapore at 26 April: King’s Night Party at Kult Kafe!
* Link op Facebook naar Dutch Drinks Singapore via @Dutch Drinks Singapore