Gus Majed, founder and group CEO of Paratus, a company specialising in fuel and freight price risk, has observed a shift in Singapore's advantage as a maritime centre. According to Majed, the city-state initially established its strong position through its significant scale, high liquidity, and strategic location.
However, Majed now believes that Singapore's future competitive advantage will increasingly stem from a less tangible factor: trust. This perspective suggests a fundamental change in the qualities that will define Singapore's leadership in the maritime sector.
The source indicates that a recent conflict elevated Singapore's status from a global fuel hub to a more prominent role, though the specific nature of this elevated role is not detailed in the provided text.
