Colombo Maritime Conference attracts global players

The Colombo International Maritime Conference (CIMC), has attracted global giants in logistics and specialists in the supply chain industry to address the 2016 sessions which begins in Colombo on September 21 at Galadari Hotel.

The conference will be held during the Sri Lanka Maritime Week and will also cover logistics as the emerging opportunity using the Sri Lankan ports' location advantage.

Chairman of the organising committee, Rohan Masakorala said that Sri Lanka aspires to go beyond the transshipment business. "We want boxes re-worked and to invite international logistic giants to be present in Sri Lanka.

This will enable our companies to set up regional distribution and value adding service centres with international investments and joint ventures and expand into markets beyond the small domestic economy."

"Logistics is a capital intensive industry and technology is playing a big role in the advancement of the sector, we want the local forwarding SME's to build larger logistics companies by expanding to regional business making Sri Lanka the focal point in South Asia," he said.

As Sri Lanka has its shipping and geographic advantage and a regional population that is expanding with greater disposable income, international and local companies can use the small island to enter into the profitable business of logistics. Asia is still considered an emerging region for logistics services.

Most cargo is still controlled by shippers rather than professional companies which are involved in value-addition and provide support services for the movement of goods across borders.

As a result some manufacturers and traders don't adopt the best practices when doing international trade. Today logistics costs can be high and lot of waste can take place if it is not properly managed, a spokesman for the organising committee said.

The conference will have logistic related topics, linked to the maritime industry and a focused session on logistics is also allocated to discuss technology, new ideas and innovations and the regional markets.

Globally renowned industry leaders led by President/CEO, FedEx Trade Networks, James R. Muhs, Director Logistics, Unilever South Asia, Ashish Joshi are expected to attend.