{"id":85889,"date":"2010-11-04T20:12:33","date_gmt":"2010-11-04T12:12:33","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/singtels-titus-yong-asian-offshore-market-is-growing-at-an-unexpected-pace\/"},"modified":"2010-11-04T20:12:33","modified_gmt":"2010-11-04T12:12:33","slug":"singtels-titus-yong-asian-offshore-market-is-growing-at-an-unexpected-pace","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/singtels-titus-yong-asian-offshore-market-is-growing-at-an-unexpected-pace\/","title":{"rendered":"SingTel\u2019s Titus Yong: Asian Offshore Market is Growing at an Unexpected Pace"},"content":{"rendered":"

\"\"SingTel<\/strong>\u2019s maritime services sector in Asia now generates about half of the company\u2019s total revenues, and the operator now is looking to increase consumer uptake. SingTel Vice President of Satellite Titus Yong told OffShore Communications E-daily<\/em> that his company has received a flood of orders and is confident it that Asia\u2019s maritime sector will continue to grow in the long term as demonstrated by its recent entry into service over the region and the presence of new satellites.<\/p>\n

OffShore Communications E-daily: Does the Asian maritime sector have unique characteristics than the booming offshore industries in North America and the Middle East?<\/h2>\n

\nYong: <\/strong>Yes, and to illustrate this, I\u2019ll refer to a recent study by analyst firm NSR<\/strong>, which projected maritime broadband adoption in North America and Europe to grow at an annual rate of 14.4 percent and 14.7 percent between 2007 and 2018, respectively. Asia, however, beat both of those figures at 20.4 percent annual growth. The more established maritime markets of North America and Europe have been steadily adopting maritime broadband through the years, but Asia shows the greatest potential for growth and the market is healthy for satellite players. Be it for MSS or FSS, the regional maritime satellite sector is actually in a growth phase of capacity supply and all stabilized antenna VSAT services have shown an annual growth in revenues of around 15 percent to 30 percent over the past five years.<\/p>\n

\nOffShore Communications E-daily: With such a high rate of growth and activity, it is difficult to meet this sharp increase in demand?<\/h2>\n

\nYong: <\/strong>It is difficult to deliver all of the orders. We have won a number of contracts in this area. Improved communications has become a vital component for shipping operators. For example, we have won a contract with Torm Shipping to equip their fleet of 100 ships with broadband services such as email, Internet and Intranet access as well as ship-to-ship and ship-to-shore voice communications services.<\/p>\n

OffShore Communications E-daily: What are the most important applications for the Asian maritime sector?<\/h2>\n

\nYong: <\/strong>Most seafarers will indicate that broadband Internet access was the most important facility to have onboard, followed by telephone and e-mail access. Overall, improved crew welfare is creating strong opportunities for satellite solution providers. Increased access to broadband, communications and entertainment services is becoming much more a critical issue to shipping operators. Isolation at sea makes it extremely difficult to attract and retain talents in the industry, especially the next generation of seafarers who are [information technology] savvy and used to being connected. This has resulted in a severe manpower shortage in the maritime industry today. The latest Drewry Shipping Consultants Manning 2009 Annual Report estimates there will be a worldwide shortfall of 56,000 officers in 2013, assuming the world commercial fleet grows by 14.6 percent.<\/p>\n

OffShore Communications E-daily: Is maritime technology keeping up with demand?<\/h2>\n

\nYong<\/strong>: Broadband technologies have advanced rapidly and have ushered in a new era in maritime communications and business innovation. The result of that is strong growth in the adoption of maritime broadband. Several of our shipping customers have recognized the importance of the new available solutions to make their operations more efficient and to differentiate themselves from their competitors.<\/p>\n","protected":false},"excerpt":{"rendered":"

SingTel\u2019s maritime services sector in Asia now generates about half of the company\u2019s total revenues, and the operator now is looking to increase consumer uptake. SingTel Vice President of Satellite Titus Yong told OffShore Communications E-daily that his company has received a flood of orders and is confident it that Asia\u2019s maritime sector will continue […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85889","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85889"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85889"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85889\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}