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Expert to discuss Iraq cargo challenges

Dubai, September 17, 2011

A leading maritime expert will examine the financial and logistical challenges of shipping cargo to Iraq at the upcoming 'Middle East Money & Ships,' conference to be held in Dubai.

A premier networking event for senior executives from the maritime and financial sectors, 'Middle East Money & Ships' will be held on October 16 at the Address Hotel in Dubai Marina.

A key speaker at this year’s event is Max R. Zaccar, chairman of Commercial Insurance and special envoy to the Middle East for the International Union of Maritime Insurance.

Zaccar will focus on the rebuilding of Iraq’s economy and infrastructure and will update delegates with the latest industry figures on marine insurance and examine the risks involved when shipping cargo to Iraq.

“Iraq has been a country on which I have been providing (industry)information over the years. I have visited Baghdad and discovered the reality of what’s happening in respect of the transit of cargo to Iraq and I am pleased to share my experiences with other underwriters,” said Zaccar.

Chris Hayman, chairman of Seatrade, the organisers of Middle east Money and Ships, said, “This forum provides the perfect opportunity for industry professionals to hear what changes have been made in shipping finance over the past few years, take a look at some benchmark deals and understand how it is applicable to their own situation.”

The conference programme is split into four sessions, starting with a shipowners’ panel, debating the expansion of the Middle Eastern fleet and a financiers’ panel which will discuss the challenges convincing the finance sector to invest in shipping, he noted.

In the afternoon, additional sessions dedicated to trading patterns and infrastructure development and regulatory, technical and of course marine insurance issues will be addressed, Hayman added.

Zaccar, he said, was probably the first foreign insurer to travel to Iraq after 1990, when he visited Baghdad in July 2010. He was able to visit a number of insurance companies and examine points of entry by sea and land to Iraq.

The other key professionals who will be speaking this year include Sean Bond, director Environmental Solutions ABS; Vince Cook, CEO, National Bank of Fujairah; Jorn Hinge, president & CEO, United Arab Shipping Company; Marcus Machin, director, Tufton Oceanic (ME) and Ahmed Hareb Al Falahi, CEO of Gulf Energy Maritime.

Oliver Ebner, senior manager, Global Project & Structured Finance, National Bank of Abu Dhabi; Rizwan Shah, managing director & leader, Capital Projects Advisory ME, Deloitte Corporate Finance; Dr Demos Petropoulos, head of Shipping, SFS Group Public Company; Denis Petropoulos, executive director, Braemar Seascope and Juan Felipe Pitty, senior partner, Pitty Legal Bureau, Panama will also speak.

In addition, Seatrade is organising the 2011 Seatrade Middle East & Indian Subcontinent annual regional awards to recognise maritime safety and environment, ship and port operations and security, plus port and shipping business efficiency.

This event is expected to be attended by over 750 senior executives from the region’s maritime industry and will be held at Atlantis The Palm, Dubai, on the evening of October 17.-TradeArabia News Service




Tags: Iraq | Conference | shipping | cargo | challenges | Seatrade Middle East | expert | discuss |

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