Mr Mah Bow Tan, Singapore's Minister for Communications officially opened SIBCON '98 in a joint ceremony with SingaPort '98 on 24 March 98 at the Expo Gateway, World Trade Centre.

More than three hundred delegates from 33 countries will be attending SIBCON '98, This is a marked increase of 35% in attendance as compared to SIBCON '97. The conference will be held at the Marina Mandarin Hotel from 24 Mar 98 to 25 Mar 98.

1998 is a significant year for SIBCON in two ways: it marks the event's 10th anniversary; it is also the first time that SIBCON is organised by the Maritime and Port Authority of Singapore (MPA).

SIBCON '98 has adopted the theme "Survive and Thrive in the Hyper-Competitive Bunkering Market". The theme was chosen to examine the challenges as well as opportunities confronting players in the bunker and related industries in the coming 21st century. These will be covered in four sub-themes:

1. Emerging Trends In The Global Bunkering Market,

2. Singapore-The Premier Bunkering Port,

3. The Global Bunkering Market

4. Effect of International Conventions On Bunkering Markets

In conjunction with the conference, a trade exhibition will also be held at the Marina Mandarin Hotel. Mobil Oil and Wired Bunkering will be presenting the latest technologies and services for the shipping and bunkering industries at the exhibition.

Other programmes lined up during SIBCON '98 include the Maritime Nite (with SingaPort) on 24 March 98 and a Reception hosted by Platt's on 25 March 98 (at CHIJMES).

Organised in association with PSA Corporation Ltd, SIBCON '98 is actively supported by 11 major local and international organisations including the Singapore Trade Development Board and the International Bunker Industry Assocation (IBIA).

Attached at appendix 1 is a brief summary of the papers that will be presented at SIBCON'98. A programme of SIBCON '98 is also attached at appendix 2.

End of release.

Appendix 1

Mr Andrew Cates, Chief Executive of Shell Marine Products Ltd, United Kingdom, will deliver the keynote address. This will be under the session "Emerging Trends In The Global Bunkering Market". The address will focus on the future of the marine fuels business. The marine fuels business is becoming increasingly global. Global market forces are driving suppliers to align their activities with the strategic focus of customers and port authorities, the other two main players in the marine fuels market. Mr Cates will discuss the dynamics between customers, ports and suppliers resulting from the main global market forces: increased competition, global, easy and cheap access to information and increased regulation. He will also sketch the new marine fuels business environments these forces are shaping. The address will go on to envision a new environment in which key bunker suppliers and customers forge long-term partnerships for mutual benefit.

Also speaking on emerging trends in the global bunkering market is Mr Joe Rud, Manager, International Marine Fuels, Mobil Marine Fuels International, USA.

The same session will also look at the structural changes and trends in the liner and shipping industry vis-a-vis the bunker industry. Mr Steven C Rothberg, Vice President SEA/Australia, Sea-Land (Singapore) will provide an analysis of the industry.

Mr Trygve A. Meyer, Director, Intertanko London, UK will speak on INTERTANKO's policy on the safe purchasing and uses of bunkers.

SIBCON 98 will also focus on the promotion of Singapore as the premier bunkering port. Leading this session is Prof D A Pinder from the Dept of Geographical Sciences, University of Plymouth, United Kingdom. He will speak on "Bunker supplies, quality assurance and regulatory regimes: the Singapore experience". This paper explores and and assesses policy responses to the service quality issue in Singapore, the world's premier bunkering port.

This session will also feature the "Evoikos" Oil Spill and Singapore's experience in managing such crises. It will be presented by Capt Mark Heah, Port Master, Maritime and Port Authority of Singapore.

The Session on the Global Bunkering Market will look at the changing bunkering scene in the United States and its future and East Asia. Mr Robert Chandran, President & CEO of Chemoil Corp, USA will provide an in-depth analysis of the American bunker market, while Mr Charlie Lee from LG-Caltex Oil Corporation, Korea will focus on East Asia.

The economic and currency turmoil in Asia has had far reaching impact on the bunkering and Shipping industry. This will be the subject of a Panel Discussion at SIBCON '98. The panel will feature representatives from the bunkering, shipping and economic sectors with active participation by delegates.

Also taking centre stage at SIBCON '98's revamped Conference Programme will be a session focusing on the effects of international conventions on bunkering markets. Among the topics covered will be one on regional and global sulphur cap and control of fuel oil supply and their impact on the bunkering industry. Mr Zafrul Alam, Assistant Director, Maritime and Port Authority of Singapore, will present this paper.

APPENDIX 2

SIBCON'98 CONFERENCE PROGRAMME

*Programme is subject to change