Hong Kong – UK Shipping Forum: Managing Intervention in Global Shipping

Lars Lippuner, Director of UK Customer Maritime Services, Maritime and Coastguard Agency (MCA) welcomed the audience of some 130 attendees from across the world, offering the podium to the keynote speakers, Ms Mable Chan, JP, Permanent Secretary for Transport and Logistics, Transport and Logistics Bureau, Government of the Hong Kong Special Administrative Region, followed by Jos Standerwick, Chief Executive of Maritime London.

The first session, entitled ‘Counterparty compliance in a complex trading environment’, was moderated by Mike Salthouse, Head of External Affairs, NorthStandard. The panel, which included Alexander Brandt, Partner, Transportation of Reed Smith, Vineet Puri, Director, Head of Shipping, Asia North and Asia South, Corporate Banking at Citi, Sandra Rosignoli, Group General Counsel and Head of Compliance of Clarksons and Martin Rowe JP, Vice President of Anglo-Eastern Univan Group, discussed the changing nature of compliance in the shipping value chain from both sanctions and decarbonisation perspectives.

The panellists provided analysis of both regulatory and commercial compliance expectations, and then continued to discuss the process and procedures shipping entities require to mitigate counterparty party risk. The session concluded with an appraisal of how the panellists’ respective firms are supporting clients through an increasingly complex global trading environment.

Moderated by Jos Standerwick, the second session was called ‘The advantages of operating assets from a mature maritime jurisdiction’. This panel provided analysis of the competitiveness of Hong Kong and London shipping clusters in the context of the current geopolitical landscape.

The panellists – William Fairclough, Managing Director of Wah Kwong Maritime Services (UK) Company Ltd
Clarence KF Leung, Asset Finance and Leasing Tax Partner at PwC, Lars Lippuner, Director of UK Customer Maritime Services at MCA, Sandra Rosignoli, who is also a Director of Maritime London, as well Calrksons’ Group General Counsel and Head of Compliance, and Benjamin Wong, Head of Transport and Logistics at InvestHK – discussed how transparency requirements in the market played to the strengths of established shipping jurisdictions and how changing norms in tax and the requirements of new capital are advantageous to onshore jurisdictions.

Representatives from the UK Shipping Concierge and HK Invest explained how the respective administrations were supporting the growth of the HK and UK shipping clusters. Chris Woodward, Director General, Trade & Investment at the British Consulate-General Hong Kong delivered the closing remarks.

 The event concluded with a networking drinks reception offering a further opportunity to the event’s participants to discuss and network in a friendly and informal setting.