Qingdao shipping summit to focus on 'terrifying' downturn

TOP executives and analysts will gather for the "World Shipping (China) Summit" in Qingdao from November 12-13 to deal with the last "terrifying 12 months" that have "buffeted and battered" the industry where "profits were obliterated and fortunes lost."

These words of desperation are strikingly different from the usual placid, pedestrian press releases announcing upcoming shipping conferences.

"The Change" will be the theme of Qingdao conference, which will endeavour to find the "launch-pad for the next shipping market take-off, with a diverse range of views expected from the world's top executives and most resourceful experts."

Conference organisers, including Cosco Group, Drewry Shipping Consultants and the Journal of Commerce, say the panic seems to be over and stock markets have recovered some of their losses, however, the world economy still seemed to be frozen in the summer of 2009.

"We strongly believe companies need make the right assessments of the market and take shrewd decisions. Timing is more crucial than ever. Clinging to old procedures and practices, whether through fear or inertia, will lead to hidden dangers. Mastering market movements and making apt and clever changes requires deep thinking," said the conference announcement notes.

For more information, visit: www.shippingsummit.com

(Source: www.schednet.com)