SMU and MPA partner to enhance Maritime Economics Concentration

Singapore Management University’s (SMU) Maritime Economics Concentration (MEC), which welcomed its first cohort of 24 students in August this year, is set to get a boost, thanks to a Memorandum of Understanding (MOU) signed on 6 November between the Maritime and Port Authority of Singapore (MPA) and SMU to co-fund and support the programme aimed at grooming local talent for the maritime and related sectors in Singapore.

Under the partnership, MPA and SMU’s International Trading Institute (or ITI@SMU) and School of Economics will collaborate in the continued development, delivery and promotion of the MEC.  Students can look forward to an enhanced experiential learning outside the classroom and more opportunities to interact with practitioners from the maritime industry.

The MEC, which allows undergraduates with a first degree in economics to specialise in maritime disciplines, boasts an effective mix of classroom sessions taught by industry experts, local and overseas industry study missions, site visits, exchanges to international maritime academic centres of excellence, as well as practiced learning through internships with maritime companies.  To date, ITI@SMU has brought on board seven industry partners, namely Aries Shipbroking (Asia) Ptd Ltd, BW Maritime Pte Ltd, Pacific International Lines (Pte) Ltd, Swire Pacific Offshore Operations (Pte) Ltd, PSA International Pte Ltd, Singapore Shipping Association and WOMAR Logistics Pte Ltd.

[Photo: SMU’s MEC students can look forward to an exchange programme at Copenhagen Business School in the later part of the academic year.]

Additionally, ITI@SMU is currently working closely with the Copenhagen Business School to include an overseas exchange programme where MEC students will have the opportunity to be exposed to the thriving maritime sector in Denmark, which has a rich maritime history and is a leader in advanced technology. A two-week exchange programme at the Copenhagen Business School is also being proposed for the first cohort of MEC students, which will be progressively extended to one full term in the next one to two years.

With the MOU, scholarships for MEC students will also be introduced to spur them on to achieve their academic goals and career aspirations in the maritime sector. The scholarships, worth S$10,000 each, are made possible through the partnership between the maritime industry and SMU, and are offered under the MaritimeONE Scholarship Programme.

The collaboration was signed in conjunction with an event held on 6 November featuring Professor Peter Lorange, who delivered a keynote address on ‘The Modern Shipping Company’ as part of ITI’s Captains of Industry Speaker Series.  The President of Lorange Institute of Business Zurich, Professor Lorange was also previously the President of IMD in Switzerland.  He serves on a number of company boards and owns the Norwegian-based shipping company, S. Ugelstad A/S.

[Photo: Professor Peter Lorange delivering a keynote address on ‘The Modern Shipping Company’.]

A panel discussion featuring an illustrious panel comprising Professor Lorange, Mr Lam Yi Young, Chief Executive of MPA, Mr Andreas Sohmen-Pao, Group CEO of BW Maritime, Mr Hans Van der Zijde, CEO or WOMAR Logistics Pte Ltd and Mr Teo Siong Seng, MD of Pacific International Lines Pte Ltd followed.  The panel shared candidly their personal careers and experiences in the maritime sector and gave their take on what to expect of the maritime industry in the future.  When asked what qualities they look for in talents, the industry veterans agreed that a strong sense of passion and drive to succeed, coupled with good work ethics and communication skills, were essential attributes besides specialised maritime knowledge.

Associate Professor Annie Koh, Vice President, Business Development & External Relations, and Academic Director of ITI@SMU, who was moderating the session, summed it up well: “The MEC was introduced as a result of feedback from the industry on the need for local talent to support Singapore’s vibrant maritime sector.  They include shipping companies, shipyards, rig builders, ports and maritime logistics companies operating in Singapore who require skilled maritime talent. Together with MPA and our industry partners, I am confident that the MEC will deliver the talent that they are looking for.”

[Photo: (Left to right) Associate Professor Annie Koh, Mr Lam Yi Young, Mr Teo Siong Seng, Mr Andreas Sohmen-Pao, Mr Hans Van der Zijde, Professor Peter Lorange and Professor Bryce Hool, Dean of SMU School of Economics.]

[Featured Photo: The signatories at the signing ceremony were Mr Lam Yi Young, Chief Executive of MPA (right) and Associate Professor Annie Koh, SMU’s Vice President, Business Development and External Relations, and Academic Director of ITI@SMU (left).]