Closing speech for AMLAC 2014 by Mr Goh Joon Seng The Honourable Justice Quentin Loh, members of Singapore Chamber of Maritime Arbitration (SCMA), members of Maritime Law Association of Singapore (MLAS), ladies and gentlemen. 1. We have to come to the close of the conference and networking spanning the last 2 days. My thanks to Ms Indranee Rajah, Senior Minister of State for Law and Education for gracing this conference as our Guest of Honour and delivering the keynote address, which provided us with a view of the development of maritime law and arbitration through the lens of the government. 2. I also wish to record my thanks to Justice Quentin Loh for agreeing to preside over the mock hearing and chairing the final session. His observations at the mock hearing and his able direction of the discussion by the panellists are incisive. We all have benefitted from the exchanges. One is struck by the diversity of views representing 2 different jurisdictions and business sectors. This is a clear demonstration of how international the practice of maritime law and arbitration has become and that those wishing to succeed in these areas at an international level will need to keep themselves abreast of developments beyond their own borders and jurisdiction. 3. We are also fortunate to have so many distinguished and learned speakers, session chairs, panellists and mock tribunal members joining us these past 2 days. I note that many have come from overseas from both civil and common law jurisdictions. Their arbitration during this conference will be compiled as a learning resource for both SCMA and the Maritime Law Association of Singapore. These will serve us well as we continue to provoke and provide thought leadership in maritime law and arbitration in Singapore. To all of you who contributed your time and effort so generously, especially our visitors, please accept my deepest appreciation for supporting our conference. 3 4. Shipping continues to be dogged by financial uncertainties I am told that the number of contractual disputes and defaults in this sector remains high. By contrast, the Oil&Gas (O&G) industry remains buoyant. The inclusion of an O&G segment into the Asian Maritime Law and Arbitration Conference reflects a desire by the leaders of SCMA and that of the Maritime Law Association of Singapore to further explore and deepen the common interests shared by the shipping / O&G industries. The model of maritime arbitration occupies a unique role in the resolution of disputes in terms of cost and case management. In these challenging times, these factors are particularly pertinent and relevant for practitioners and principals locked in dispute resolution. 5. Moving forward, the model of maritime arbitration in Singapore will need to be modified to keep in step with changes advocated by the needs of our industry. The introduction of SCMA Expedited Arbitral Determination of Collision Claims (SEADOCC) as an arbitral solution to 4 resolve apportionment of liability for colliding ships is one such example. In other areas, the tighter integration of the mediation process and arbitration will feature in our constant quest to develop more innovative and cost effective avenues for dispute resolution. Whilst the exact form this development will take remains a work in progress, what is certain is our determination to commit to constant refinement in order to remain relevant to our industries. 6. Finally, I would like to record our appreciation and thanks to our sponsors (both known and anonymous) and supporting organizations. Exceeding what was recorded last year, their support of this event has been overwhelming. We continue to see a strong diversity of industry sponsors alongside the traditional support given by law firms. This is a reaffirmation of the successful outreach initiatives by SCMA and the Maritime Law Association of Singapore to the maritime and legal community, an avenue we will continue to pursue. 5 7. It is now my pleasure to close this conference and invite all of you to proceed to the post conference dinner reception where other invited guests will join us and where you may continue with your discussions, make new friends, renew your old friendships or just reminisce over the good old times. Thank you and have a pleasant evening. *************