COVID-19 has severely impacted the world, and the shipping and oil industries have not been spared. The oil price was showing signs of recovery during 2019, with a corresponding increase in upstream activity. However, the COVID-19 pandemic has strangled demand with a resulting knock on impact on all areas of the industry, both upstream and downstream. These range from: the obvious reduction in drilling, extraction and production; to an increase in requirements for floating storage from traders seeking to benefit from an expected recovery in demand and a contango situation. It remains to be seen how long this will last, what Governments will do to support the industries, and for the lawyers, what significance it brings to our practice areas.
The Maritime Law Association of Singapore has gathered a panel of distinguished lawyers from other Asian Maritime Law Associations for a regional overview, and industry experts to discuss the ramifications of these issues for the shipping and oil industries. The panel discussions will focus on how the industries have been impacted, what responses the various Asian Governments made, what opportunities are there, what steps have to be considered and how long the industries will take to recover.
Who should attend: Private practice and in-house lawyers, insurers, shipping and oil industries and academic professionals.