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AdSP Civitavecchia Joins Business Mission To Singapore

AdSP Civitavecchia joins business mission to Singapore

AdSP Civitavecchia Joins Business Mission To Singapore

Civitavecchia, Italy (PortSEurope) November 27, 2018 – Autorita’ di Sistema Portuale del Mar Tirreno Centro-Settentrionale (AdSP – Centre-North Tyrrhenian Sea Port Authority) has participated in a Singapore business mission, organized by “The International Propeller Clubs” with the coordination of the local Italian embassy.

This year the event included: representatives of nine Port System Authorities, the National Propeller Club, SRM – Studies and Research for the South, Presidents of Associations of the Italian Maritime and Logistic Cluster, professionals, as well as representatives of the academic and university world.

AdSP President Francesco Maria di Majo delegated lawyer Maurizio D’Amico, to represent the organisation.

Representatives of the AdSP met members of the Singapore Logistics Association (SLA) and the President of the International Chamber of Commerce of Singapore; the heads of the National University of Singapore (NUS), which was holding the conference entitled “Belt & Road Initiative: a vision from Italian and Singapore Maritime Clusters”, in which the lawyer D’Amico spoke as speaker; the CEO of the Maritime and Port Authority of Singapore (MPA) and the Group Chief Executive Officer of PSA International, one of the largest port operators in the world, with a subsequent visit to the terminal; representatives of the International Bunker Industry Association (IBIA) in Singapore; representatives of Banca Intesa San Paolo at its headquarters in Singapore, in which the seminar entitled “The new challenges of Maritime Economy: a focus on Mediterranean area and Far East” was held; the Vice President of the Singapore Stock Exchange; the President of the Singapore Shipping Association and the Executive Director of the Singapore Maritime Foundation; and representatives of the Italian Chamber of Commerce Chamber in Singapore.

According to the ranking of the 110 world ports drawn up by Alphaliner on container traffic in 2017, Singapore is in second place, with traffic of about 33.67 million TEU, surpassed only by Shanghai, with 40.23 million TEU.

One of the factors that contributed to the economic and financial success of Singapore is the long experience in the areas of free zones and special economic zones. Currently, the city-state has nine free trade zones (FTZ), through which companies can import, sell or export goods without paying customs duties, excise duties or taxes on goods and services. The FTZs of Singapore allow companies to temporarily store their goods until they are loaded on a ship or aircraft without customs clearance.

Two of Singapore’s largest free zones are Jurong Harbor and Changi Airport. The port of Jurong can accommodate up to 15,000 boats a year and is one of the world’s largest multi-purpose ports with facilities including a large number of warehouses and one of the largest cement terminals in the world.

Changi Airport is dedicated to companies that transport goods by air and the free zone connected to the airport houses both warehouses for the storage of goods, and offices for companies operating in Singapore.

The participation of the Italian port authorities in the Singapore mission represented an excellent opportunity to compare and interrelate with the  port, maritime and logistics of one of the main international financial and economic centres, as well as home to one of the most important port hubs in the world and, consequently, the verification of opportunities for the creation of commercial relations with the Far East.

FTZs are relevant to the AdSP as Maurizio D’Amico has experience with Special Economic Zones, and the Lazio Region has adopted a resolution to start the process of setting up a Simplified Logistics Zone in the port and back port areas of Civitavecchia, Fiumicino and Gaeta.

With the participation of the AdSP at the event, the Chairman of Majo confirms his willingness to pursue a markedly international approach to realize the strategic prospects for the development of the port network in Lazio.

Source: Autorita’ di Sistema Portuale del Mar Tirreno Centro-Settentrionale

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