18 May '11, 8am

IMDEX Asia opens in Singapore

SINGAPORE: Deputy Prime Minister and Defence Minister Teo Chee Hean has spoken of the global ramifications of piracy at the opening of the International Maritime Defence Exhibition and Conference (IMDEX) Asia. The three -day event kicked off Wednesday morning in Singapore. Highlighting how threats to just one region can have global ramifications, Singapore's defence minister highlighted the economic impact as well. "For example, Maersk Lines, one of the largest global shipping lines recently estimated that its piracy related costs will double from US$100 million to US$200 million in 2011," said Mr Teo. Mr Teo added that dialogues on maritime defence need to continue and that multilateral frameworks and groupings need to be built on. He said the usefulness of such groupings can be seen in the Gulf of Aden, where an international counter-piracy task force is operating. Pirac...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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