SPEECH BY MR LAM YI YOUNG CHIEF EXECUTIVE, MARITIME AND PORT AUTHORITY OF SINGAPORE AT "K" LINE PTE LTD'S 10th ANNIVERSARY COCKTAIL RECEPTION 5 OCTOBER 2011, WEDNESDAY 1900 HRS ROYAL PAVILION BALLROOM, REGENT HOTEL, SINGAPORE

07 October 2011

Mr Jiro Asakura, President & CEO, Kawasaki Kisen Kaisha, Ltd

Mr Yoshikazu Minagawa, Managing Director, "K" Line Pte Ltd

Distinguished Guests,

Ladies and Gentlemen,

Good evening. I am very pleased to join you this evening at "K" Line Pte Ltd's 10th Anniversary Cocktail reception. I would first like to extend my warmest congratulations, as well as that of all my MPA colleagues, to KLPL on this joyous occasion.

"K" Line Pte Ltd in Singapore
Since KLPL started operations 10 years ago, it has grown from strength to strength. MPA is very glad to have had the opportunity to work in partnership with KLPL over the past ten years and to have witnessed its growth in Singapore.

More importantly, we have also seen how KLPL has contributed much to Singapore's growth as an International Maritime Centre, and for this we are deeply appreciative. I would like to take this opportunity to say a big thank you to KLPL and "K" Line.

KLPL has a strong presence in Singapore operating almost 30 vessels and undertaking various trade management functions. KLPL employees have also grown significantly in numbers, to more than 120 staff currently. KLPL has also supported many Maritime Singapore initiatives to develop maritime talent. For example, KLPL has been giving scholarships under the "K" Line - MaritimeOne Scholarship since 2007. To date, KLPL has sponsored a total of 5 students for their BSc in Maritime Studies at NTU.

Growth of Maritime Singapore
Over the past 10 years, Singapore has also worked hard to build up our maritime industry. Much effort has been made to attract more shipping companies and maritime service providers to Singapore. Today, Maritime Singapore is made up of more than 5,000 companies, contributing around 7% of Singapore's GDP and employing over 170,000 people.

Singapore's maritime ancillary services have also made significant headway as we now have over 20 banks with shipping portfolios, 16 Lloyd's Syndicates writing marine business and 4 IG P&I clubs. There are also over 20 leading shipbroking companies and over 30 local and foreign law firms with maritime practice. All these could not be achieved without the strong support of companies like KLPL. We will continue to work with you to provide a conducive business environment and to facilitate the growth of your operations in Singapore.

Conclusion
Before I end, please allow me to again extend, on behalf of MPA, our gratitude to KLPL and the "K" Line Group for their support of Maritime Singapore, and our heartiest congratulations to KLPL on its 10th anniversary. We look forward to continuing our good working relationship with the Group and to celebrating many more 10 years of KLPL in Singapore.

Thank you for the invitation and I wish everyone here a lovely evening.

Thank you.