EPS Wins IMA IMC 2021!
19 April 2021
Eastern Pacific Shipping kicks off Singapore Maritime Week by receiving top honours at MPA’s International Maritime Awards
Singapore, April 19, 2021 – Singapore Maritime Week (SMW), driven by the Maritime and Port Authority (MPA) of Singapore, is an annual gathering of the international maritime community to advance key issues and exchange ideas to bring the sector forward. This year’s SMW, themed “New Frontiers, Shifting Paradigms” will focus on the pace of digital transformation and decarbonisation efforts, as well as the need for a robust talent pool to meet the future opportunities of the maritime industry.
Watch EPS CEO Cyril Ducau accept the IMC 2021 award on behalf of the EPS Community
The International Maritime Awards (IMA) is a key event of MPA’s SMW. The IMA seeks to recognise individuals and companies that have stood out in their contributions to Singapore as a hub and international maritime centre. Across several categories, the IMA awards those who enhance Singapore as a global port, innovate and digitalise the maritime ecosystem, all while promoting sustainable shipping.
This year, EPS is honoured to receive the prestigious the International Maritime Centre Award for our contributions to Singapore’s development as an International Maritime Centre, impact on the Singaporean economy and maritime community, and our demonstrated resilience by adapting business activities and operations in view of COVID-19.
EPS would like to thank the 5,000 strong and growing EPS Community, our friends, and partners for making this milestone achievement possible!
Read more about how EPS got here in the article below by Marcus Wong from Nutgraf.
EASTERN PACIFIC SHIPPING: Winner of the International Maritime Centre (Corporate) Award 2021
by Marcus Wong
The past few years has been a busy period for the maritime industry. Apart from having to deal with the usual ups and downs of the market cycle, many companies have had to deal with technological disruption, decarbonisation rules and, of course, the fallout from COVID-19.
But instead of getting distracted by these short-term events, Eastern Pacific Shipping has kept its sights firmly on its long-term objective of greening the seas.
Last year, it set out a commitment towards industry-wide decarbonisation as part of its Environmental, Social and Governance policy. Earlier this year, it doubled down on its commitment by announcing that it managed to surpass its CO2 reduction targets by two years, the result of its concerted effort push to move its fleet towards green-technology and cleaner fuels.
“While there is no perfect solution, the company remains committed to continue its transition towards using cleaner energy sources available today to lower its carbon emissions,” said EPS’ Chief Executive Officer Cyril Ducau.
“As a leading tonnage provider managing over 17 million DWT, EPS has a responsibility to implement emission lowering solutions available today while simultaneously developing solutions for tomorrow. This is in line with Maritime Singapore’s decarbonisation agenda guided by the targets of the International Maritime Organisation (IMO) to reduce total annual greenhouse gas (GHG) emissions from international shipping by at least 50 per cent by 2050.”
Apart from decarbonisation, he believes that there are multiple challenges the industry must face, and these can only be met with a combination of innovation, technology and talent.
In 2019, the company launched the Eastern Pacific Accelerator in partnership with accelerator platform Techstars. The goal: cultivate a new generation of start-ups and entrepreneurs that can reshape the maritime industry by bringing new solutions to longstanding challenges.
So far, 18 startups have received funding and mentorship to pursue a range of different solutions from AI/VR to drones. About half of them are based in Singapore.
The company is also focusing its efforts to tackle the talent crunch that the industry is facing, especially in Maritime Singapore, said Mr Ducau.
“The most significant challenge in achieving this growth is attracting talent to pursue a career in maritime business, marine engineering, or a life at sea as a seafarer,” he said.
The company, headquartered in Singapore, partnered with the Idan & Batia Ofer Family Foundation to launch an annual S$200,000 scholarship fund for an initial period of three years. It will be awarded in cooperation with the Singapore Maritime Foundation’s MaritimeONE scholarship programme, and aims to award 10 full and mid-term programme scholarships a year.
These initiatives have helped bolster the reputation of Singapore as an international maritime centre, something that Mr Ducau is happy to do.
“Much of our success can be attributed to being headquartered in Singapore and we are committed to supporting Maritime Singapore, which represents the entire ecosystem of the maritime industry on a global stage,” he said.
“It is essential that Singapore remains relevant as a global maritime hub as it is a maritime gateway to key Asian markets and the world.”