||OPENING REMARKS BY
||Kathleen C. Hochul
State of New York
President & CEO
Empire State Development &
Commissioner of the New York State Department of Economic Development
The 2016 New York Maritime Forum (NYMF)
, scheduled for Tuesday, September 13, 2016, is an initiative that aims to promote and showcase New York as a maritime industry hub and attract more maritime related business to the area.
The NYMF 2016 is the continuation of the Annual Capital Link Global Shipping, Commodities & Energy Forum which for the last 8 years takes place in New York City and attracts well over 800 senior executives from the global maritime industry. Other Parallel Events can also be held during that week taking advantage of NYMF’s marketing platform to the global maritime community. NEW YORK AS A MARITIME CENTER
New York is a global business and financial center, with an economy that is larger than most countries. It is also a major maritime industry hub with significant contribution to the local economy. Four examples are sufficient to demonstrate New York’s leading position as a global maritime hub. First, New York has been the capital raising destination of choice for maritime companies. There are 48 shipping companies listed on New York Stock Exchanges, more than on any other Exchange in the world. Besides equity, shipping companies flock to New York to raise bonds, private equity and secure alternative financing. As a result, New York Exchanges have the highest trading volume of shipping stocks, as well as the largest investor and analyst base. Second, New York has unique resources and infrastructure for services related to the maritime industry (commercial and investment banks, legal services, insurance and arbitration, brokerage, cargo handling, media and more). Third, the Port of New York is the third largest in the country and the busiest one on the East Coast and a major contributor to the local economy given the volume of cargo handled and the extensive infrastructure around this. Fourth, New York is home to over 200 shipping companies and can attract significant additional business as an operational base for foreign shipping companies as long as they qualify for exemption under US tax laws or a US treaty.
Other major maritime centers, such as London, Oslo and Athens, or emerging ones such as Cyprus, organize events on a regular basis that showcase their positioning in the industry and as a place for maritime related business. It is time for New York to assert and showcase its own significant position in the global maritime industry. NEW YORK MARITIME FORUM – Tuesday, September 13, 2016
As mentioned, the 2016 New York Maritime Forum is the continuation of the Annual Capital Link Global Shipping, Commodities & Energy Forum which for the last 8 years takes place in New York City and attracts well over 800 senior executives from the global maritime industry who come to New York from all over the world to interact with bankers, investors and other industry participants.
This one-day conference, known for its rich informational content and the extensive marketing, networking and business development opportunities, focuses on the trends and developments in the various sectors of the global shipping industry (dry bulk, crude and product tankers, LNG, LPG, containers, container leasing) and areas related to shipping such as bank finance, capital raising and private equity.
The attendance of 800+ senior executives from the shipping industry and the financial and investment communities is tangible proof of the Forum’s track record of success and of New York’s preeminence in the global maritime scene. BREAKOUT SESSIONS FOCUSING ON MAJOR INDUSTRY TOPICS & NEW YORK’S ROLE
In parallel to the main sessions, where shipping company CEOs from all over the world will be discussing their sectors’ developments and outlook addressing mainly an investor audience, there will be a series of breakout sessions focusing on specific topics such as bank finance, equity and fixed income capital raising, restructuring and bankruptcy, maritime finance and law, securities law, tax issues, arbitration and mediation, New York as operational center for shipping companies, as well the role of the Port of New York and New Jersey as a logistics hub for shipping and cargoes. These breakout parallel discussions will focus on New York’s role while also providing updates on latest trends and developments for each topic.
Traditionally, Capital Link’s Forums feature breakout panel sessions, which take advantage of the significant delegate flow to the overall event. The NYMF breakout session will benefit from the presence of shipping companies’ C-level executives and other major industry participants. PARALLEL EVENTS
Capitalizing on the marketing platform of the NYMF, several individual firms, organizations or associations may also elect to organize events of their own on days other than the day of the Forum, for which they will have the complete organizational responsibility.
Capital Link will include such functions in an overall calendar to be actively marketed to an industry audience both in the USA and abroad. MARKETING TO A GLOBAL INDUSTRY AUDIENCE
The objective is to enhance New York’s profile as a place of business to the global maritime industry and especially to global shipping firms and industry participants who do not reside in New York.
Capital Link will market the NYMF to a global audience with which we have been interacting for years now. The CEOs of major shipping firms have been attending the Annual Capital Link Forum, which has been mainly an investment and finance conference, presenting their companies to US investors. As the conference will now provide the opportunity for interaction and updates on other topics related to the maritime industry and what New York offers, the objective is to attract to New York senior executives from a wider industry group who are responsible for these additional operational areas.
Specifically, the NYMF will target shipping industry participants such as shipping and liner companies, container leasing companies and operators, ship managers, ship brokers, ship agents, ship charterers, port terminal operators, port security, naval architects and engineers, classification societies, marine insurers and underwriters, marine arbitrators, maritime lawyers, marine mediators, commercial and investment bankers, marine advisors and consultants, maritime technology and marine educators.
Furthermore, Capital Link will use its global marketing platform (events in London, Athens, New York and Shanghai) to maintain a marketing momentum of the NYMF and New York throughout the year. NEW YORK MARITIME FORUM HANDBOOK & GUIDE
The NYMF Handbook & Guide will provide information on the NYMF and any parallel events as well as on the topics addressed and the firms involved. This publication will also include views and updates from the various executives, firms and organizations involved with the NYWF on the role of New York as an international maritime center.
The Handbook & Guide will be available both in print form and also on-line, thereby serving as an additional informational source for those who want to do business in New York and maximizing the visibility and benefit of the firms included in it.