ICS Madras Branch, WISTA India Launch ‘Sea of Change’ Knowledge Series in Chennai

By Admin

20 Dec, 2025

Introduction
The Institute of Chartered Shipbrokers (ICS) – Madras Branch, in collaboration with WISTA India, has taken a meaningful step toward strengthening industry knowledge by launching a new knowledge-sharing initiative titled “Sea of Change.” The first edition of the series was successfully held at The Presidency Club, Chennai, bringing together voices from across the maritime ecosystem to discuss the changing realities of global shipping.

A Platform for Industry-Wide Engagement
The inaugural session witnessed active participation from maritime professionals, academicians, and students. This diverse audience reflected the growing need for informed discussions around the structural shifts reshaping global trade and shipping. The initiative aims to bridge practical industry insights with academic understanding, creating a space for learning, dialogue, and forward-looking perspectives.

Global Maritime Fundamentals in Focus
The first presentation was delivered by Capt. Amarendra Mishra, Country Manager (India), Bahri Line. He provided a detailed overview of the global fundamentals influencing maritime trade today. His session explored geopolitical and economic developments affecting vessel charter rates, demand–supply dynamics across different asset classes, and emerging trade patterns in a multipolar world. He also highlighted the rising importance of rare earth minerals, changing commodity performance trends, and the operational and commercial shifts that are redefining the future of global shipping.

Technology, Risk, and Sustainability Perspectives
The second session was led by Mr. Muthu Jagannath, Arbitrator, Mediator, and Claims Adjuster, who addressed industry transformation driven by artificial intelligence, sustainability goals, and regulatory changes. He introduced the concept of Redundancy Management (RM), traditionally used in marine engineering safety, and explained its relevance in eliminating single points of failure in business processes. Applying this approach to marine insurance, he stressed the importance of proactive risk management and training rather than relying solely on extensive insurance coverage.

Rethinking Dispute Resolution and Business Continuity
In the context of dispute resolution, Mr. Jagannath advocated for prioritising business continuity and enforceable outcomes over lengthy litigation. He noted that practical compromise often better serves long-term commercial interests, especially in an industry where time, relationships, and operational continuity are critical.

Looking Ahead for the Maritime Industry
Concluding the session, both speakers emphasised that navigating the future maritime landscape will require heightened awareness, adaptability, and timely decision-making. With increasing geopolitical uncertainty and rapid technological change, informed leadership and strategic thinking will be key to sustaining growth and resilience in the maritime sector.

Acknowledgements and Way Forward
ICS Madras Branch expressed its sincere gratitude to WISTA India for its collaboration and thanked the speakers, fellows, members, and guests for making the inaugural edition of the “Sea of Change” series a success. The initiative sets a strong foundation for continued knowledge exchange and meaningful dialogue within India’s maritime community.