Every year for the past 20 years, the international marine transportation industry has gathered for the preeminent shipping conference in the United States. This year's Shipping 2005 Conference and Trade Exhibition will mark the 20th anniversary for the Connecticut Maritime Association, the show's sponsor.
     The annual exhibition attracts thousands of maritime business leaders representing the world's largest shipping companies. More than 120 companies will be exhibiting at the event, which will be held from March 21-23 at the Stamford Westin Hotel. In addition to networking, attendees will discuss current and future challenges, originate new deals and look over some of the latest services and products available to facilitate safe and profitable trade.
     "The event is a must attend on the international shipping calendar," said Peter Drakos, president and a partner at Healy and Baillie, Stamford, a maritime law firm based in New York City. "Leaders in business come because their peers attend; because the U.S. cargo market is so important to trade; because the U.S. capital markets provide significant risk-tolerant capital for building or buying ships, and because U.S. regulators and legislators have been very active in setting or demanding international standards for the ships that call at our ports."
     The Shipping 2005 conference is taking place against a backdrop of unprecedented growth in the maritime freight market - growth driven largely by China's insatiable demand for raw materials and energy. Large tankers, which just two years ago had earned $20,000 a day for the 45-day run from the Persian Gulf to the U.S., today earn in excess of $100,000 a day. Large bulk carriers now earn three times more than two years ago.
     The conference provides a venue for both U.S. and foreign owned companies involved in moving oil, coal, minerals, metals, industrial raw materials, agricultural commodities, and industrial and agricultural chemicals.
     Many of the world's leading maritime industry players are based in Connecticut. Shipping companies, such as Stamford-based OMI Corp., move millions of barrels of oil and petroleum products around the globe every day. Other companies, such as Louis Dreyfus in Wilton and Clarendon in Stamford, have shipping arms that charter hundreds of ships a year for the cargoes they trade. These ships move American grain to world markets and world grains to U.S. consumers. Coal mining companies move U.S. coal overseas, and trading houses and U.S. utilities import coal. "Interestingly," said Drakos, "even though we have huge coal reserves, the United States is a net coal importer. Bridgeport harbor power station's use of over a million tons of Indonesian coal per year is an example."
     More than 85 percent of calls at U.S. ports are made by ships other than container and passenger ships. They include oil tankers, specialty vessels and bulk carriers that move energy products, cars, and the raw materials for core industries and infrastructure development, contributing daily to U.S. economic well being.
     "Most ships are too large for U.S. ports," said Donald Frost, a veteran of the maritime industry and past president of the CMA. "However, you can see smaller oil tankers in New Haven discharging heating oil and gasoline and fruit carriers in Bridgeport discharging bananas. You can also see ships in New Haven discharging steel from the former Soviet Union and loading scrap iron bound for steel mills in China and Korea."
     In fact, 95% of everything the United States imports or exports travels by sea. "Shipping is more than a service industry," said Frost. "It is also a marketing and pricing tool that differentiates commodities among many sources and among many buyers and this is where the industry in Connecticut excels."
     Proximity to New York was the reason international shipping companies set up shop during the 1970s in Fairfield County. Open spaces, good schools, and no state income tax attracted two Scandinavian ship owners - Jacob Stolt-Nielsen and Ole Skaarup - to Stamford. Both companies still bear the names of their founders, and still operate from Greenwich.
     Today, the Connecticut Maritime Association has more than 1,000 regular members and about 8,000 virtual members located in more than 30 states and 20 foreign countries. As the vitality of the industry in the area has flourished, European and Asian firms have opened offices here in Connecticut.

     In addition to the annual conference, the CMA organizes a wide range of programs throughout the year. More information about the association is available online at www.cmaconnect.com. More information about the conference is online at www.shipping2005.com.