Hull Skin in the Game at TMS Ship Finance Conference

Dubai, 14 February 2024

The Maritime Standard hosted its highly anticipated 6th edition of the ‘Ship Finance and Trade Conference’ at the prestigious Taj Exotica Palm Jumeirah, Dubai. The event saw a remarkable turnout of over 250 industry leaders who gathered to explore the latest trends and insights in ship finance, banking, shipping, ports, terminals and more.

Themed ‘Capitalising on opportunities for an era of sustainable growth,’ the conference featured distinguished speakers from various sectors, offering invaluable expertise and perspectives. Among them was Nikeel Idnani, Honorary Secretary of IMarEST UAE Branch, who delivered an enlightening presentation titled ‘Hull Skin in the game.’ Idnani discussed the potential of Fouling Release Silicone coatings in driving sustainable growth, presenting a compelling case study of a Middle East ship owner who reaped significant benefits by coating a VLCC hull with PPG SIGMAGLIDE 2390.

The case study showcased impressive results, including a 10-year accumulated cash flow of $10.4 million, a short attractive 11-month payback period and a 10-Year CII Compliant Rating, demonstrating the tangible benefits of embracing eco-friendly solutions in the maritime industry. In acknowledging the conference date coinciding with Valentine's Day, Idnani aptly underscored the resonance of sustainability in today's market dynamics, asserting, "While love may be in the air for some, I suggest that sustainability has become the new Cupid shaping the future of our industry."

Following the presentation, Idnani participated in an engaging Q&A session, where attendees gained valuable insights into emerging opportunities and strategies for navigating the evolving maritime environment. The discussion highlighted the increasing focus on Environmental, Social & Governance (ESG) considerations in bank financing decisions, underlining the industry's shift towards greener practices.

As a supporting organization of the conference, the IMarEST reaffirmed its commitment to fostering dialogue and collaboration within the maritime community. The event underscored the collective efforts to address challenges and seize opportunities in building a sustainable and resilient maritime sector.

View comments here from the UAE Branch Chair, Nikeel Idnani