As the world marks the first UN Oceans Day, marine scientist Erich Hoyt says too little of the oceans has been set aside to protect marine life. In this week's Green Room, he explains why vast protected areas are needed to ensure the long term survival of marine mammalWhere do whales live? In the sea, of course; but the sea is ever changing.
We know that sperm whales search for squid in the dark canyons off the continental shelf.
We know that other whales and dolphins feed along massive seasonal upwellings fuelled by plankton explosions that attract vast schools of fish, which in turn attract seabirds, sharks and turtles, too.
We know that whales travel from feeding areas near the Arctic and Antarctic to warm equatorial regions where they breed and raise their calves.
So where precisely do whales live?
Well, this is the starting point for marine habitat-related research on whales and dolphins. We are still in the process of determining the fine points based on ocean depth, slope, temperature, currents and other factors; but we are learning.
And the more we learn, the more we realise how important it is to know where everything lives and how it functions in the dynamic environment of the sea; not just whales and dolphins but all marine life.
Habitats for a lifetime
Since the 1960s' save-the-whale movement started in California, we have made some progress reversing the momentum toward extinction that came from centuries of whaling
s such as whales and dolphins.There are still great threats to whales and dolphins as some countries continue to go whaling and dolphin hunting.
Hundreds of thousands of whales and dolphins are killed every year as bycatch and as a result of becoming tangled in fishing gear.
Also, overfishing has damaged ecosystems and food chains; the escalating noise in the sea from shipping, military sonar and hydrocarbon exploration has invaded their habitats.
On top of all this, there is the silent kill from chemical pollution and the effects of climate change.
Meanwhile, oil, gas and mining industries have their sights set on the vast ocean seabed.
If the lessons of intensification during the previous century show us anything, it is that we need to make a place in the sea for marine life.
We cannot save the whales unless we save their habitat.
Thinking big
International agreements, such as the Convention on Biological Diversity (CBD), have set a looming deadline of 2012 to create a network of worldwide marine protection areas (MPAs) in national waters and on the high seas.
Most countries have agreed to these targets yet few are on track to reach them. In the UK, the parliaments in Westminster and Edinburgh are currently considering new marine bills that will determine the future extent of efforts to protect the sea around the British Isles.
Compared to land-based protected areas, which cover an estimated 12% of the world's continents and islands, protection of the sea stands at only 0.65%, with highly protected areas limited to just 0.08%.
Countries such as Australia, the US, and Kiribati are currently leading the world in marine protection, even if they too clearly have a long way to go in terms of full implementation.
Better understanding
Whales and dolphins have colonised many marine habitats, and have intricate relationships with many other species.
With so many species and habitats, how can we uncover the key places where whales live, the critical areas needing protection?
The past 35 years of research tell us that the same whales are returning to the same places to feed, mate, give birth, raise their calves and socialise.
Mothers have calves and then travel with them, introducing them to their favourite spots, corresponding to ideal depths, water temperatures, currents and other conditions for nursing, resting, finding prey, and so forth.
This is the concept of site fidelity. How do we know this? Individuals within the various species of whales and dolphins can be distinguished by nicks or other markings on their fins and tails, or by pigmentation differences revealed by sharp photographs.
Thus, the animals can be named and distinguished, and therefore identified when re-sighted. These re-sightings have helped us reveal site fidelity as well as abundance, crucial to telling us that one area is more important than another.
To protect these favourite places we must establish legally binding MPAs. We must create management bodies and plans, and ensure there are provisions for enforcement and monitoring.
MPAs must be much larger than land-based protected areas because of the fluid nature of the ocean and the mobile nature of its inhabitants; in some areas we may need flexible or moveable boundaries with seasonal components.
To help advance the creation of MPAs, we devised the idea of "homes for whales and dolphins".
The great bonus is that by focusing on "homes" or safe havens for whales, we can protect much more.
Whales and dolphins are umbrella species. The size of habitats needed for their protection, including consideration of MPA networks across ocean basins, will give assistance to many other species as well.
The goal, if not yet the practice, of most marine conservation revolves around the concept of ecosystem based management; so theoretically, entire ecosystems could be protected.
Whales and dolphins are sentinel species. If they are present and healthy, there is a good chance that the entire ecosystem is healthy.
Many cetaceans are among the apex predator species first to go from an area if things are not right, so if we can protect whales and dolphins, we know we are on the right road.
If marine mammals are turning up on beaches or dying in nets, then these events should be warning flags for the whole ecosystem.
The lines are being drawn in the sea. Now more than ever we need a bold vision - big, ocean-wide networks of highly-protected areas.
Fifty years from now, we will see the present day as the time when we had a chance; when we made tough choices and either elected to develop the sea, converting it into some vast watery industrial site, or decided to help significant portions of marine nature to stay wild and sustain our planet.
If we can make homes for whales and dolphins, the ocean may just have a chance.
erich hoyat in bbc
Wednesday, June 10, 2009
'Tiny chance' of planet collision
Astronomers calculate there is a tiny chance that Mars or Venus could collide with Earth - though it would not happen for at least a billion years.
The finding comes from simulations to show how orbits of planets might evolve billions of years into the future.
But the calculated chances of such events occurring are tiny.
Writing in the journal Nature, a team led by Jacques Laskar shows there is also a chance Mercury could strike Venus and merge into a larger planet.
Professor Laskar of the Paris Observatory and his colleagues also report that Mars might experience a close encounter with Jupiter - whose massive gravity could hurl the Red Planet out of our Solar System.
Astronomers had thought that the orbits of the planets were predictable. But 20 years ago, researchers showed that there were slight fluctuations in their paths.
Now, the team has shown how in a small proportion of cases these fluctuations can grow until after several million years, the orbits of the inner planets begin to overlap.
The researchers carried out more than 2,500 simulations. They found that in some, Mars and Venus collided with the Earth.
"It will be complete devastation," said Professor Laskar.
"The planet is coming in at 10km per second - 10 times the speed of a bullet - and of course Mars is much more massive than a bullet."
Professor Laskar's calculations also show that there is a possibility of Mercury crashing into Venus. But in that scenario, the Earth would not be significantly affected.
"If there is anyone around billions of years from now, they'd see a burst of light in the sky and the two planets would be merged," he said.
"The new planet would be a little bit bigger than Venus, and the Solar System would be a little more regular after the collision, but the Earth's orbit would not be affected."
The finding comes from simulations to show how orbits of planets might evolve billions of years into the future.
But the calculated chances of such events occurring are tiny.
Writing in the journal Nature, a team led by Jacques Laskar shows there is also a chance Mercury could strike Venus and merge into a larger planet.
Professor Laskar of the Paris Observatory and his colleagues also report that Mars might experience a close encounter with Jupiter - whose massive gravity could hurl the Red Planet out of our Solar System.
Astronomers had thought that the orbits of the planets were predictable. But 20 years ago, researchers showed that there were slight fluctuations in their paths.
Now, the team has shown how in a small proportion of cases these fluctuations can grow until after several million years, the orbits of the inner planets begin to overlap.
The researchers carried out more than 2,500 simulations. They found that in some, Mars and Venus collided with the Earth.
"It will be complete devastation," said Professor Laskar.
"The planet is coming in at 10km per second - 10 times the speed of a bullet - and of course Mars is much more massive than a bullet."
Professor Laskar's calculations also show that there is a possibility of Mercury crashing into Venus. But in that scenario, the Earth would not be significantly affected.
"If there is anyone around billions of years from now, they'd see a burst of light in the sky and the two planets would be merged," he said.
"The new planet would be a little bit bigger than Venus, and the Solar System would be a little more regular after the collision, but the Earth's orbit would not be affected."
Australia flu 'may tip pandemic'
A sharp increase in swine flu cases in Australia may mean the infection has become a pandemic, the World Health Organization says.
For that to happen, officials would have to verify that the disease had become established outside North America, where the crisis began.
"Once I get indisputable evidence, I will make the announcement," said WHO director general, Margaret Chan.
More than 1,200 people have contracted the virus in Australia - none fatally.
The total means Australia has seen a four-fold increase in a week.
Less than a month ago the country had only a handful of cases of the H1N1 virus but it now has the highest number of infections outside North America.
Victoria and the state capital, Melbourne, are the worst-hit with more than 1,000 confirmed cases.
Evolving
Most of those affected are suffering only a mild illness, but the Health Minister of Australia's Queensland state, Paul Lucas, has warned that the contagious respiratory condition would inevitably claim lives.
The head of the WHO's global influenza programme, Keiji Fukuda, said the situation had "evolved a lot" in recent days.
"We are getting close to knowing that we are in a pandemic situation," he said.
But Dr Fukuda urged calm. "It does not mean that the severity of the situation has increased or that people are getting seriously sick at higher numbers or higher rates than before," he said.
Following the major outbreaks in North America the flu alert is currently at phase five of a six-level scale.
The virus has infected more than 26,500 people in 73 countries.
The WHO held a conference call with governments on Wednesday, but afterwards said no decision had been taken on moving to phase six - the pandemic stage - at the moment.
Gregory Hartl, WHOs spokesperson for epidemic and pandemic diseases, said if a pandemic was announced it would not be the "apocalyptic situation" envisaged when bird flu looked liked it would be the cause.
"What we are seeing now with H1N1 is that in most cases the disease is self-limting, lets say 98-98% of the people we know to be affected recover without any need for hospitalisation, as far as we can tell.
"We do understand that the natural reaction of people if and when we declare phase six could be very strong.
"But we would hope that there would be quiet quickly an adjustment reaction, as happened in the US, when people realised they weren't getting seriously ill."
BBC medical correspondent Fergus Walsh says it is true that the word "pandemic" sounds scary. But it simply means a global epidemic of an infectious disease.
He says it is not a signal that the virus is getting more virulent - only a measure of its geographical spread.
As the number of H1N1 cases in Australia passes 1,200, Singapore has urged its citizens to avoid travel to Victoria.
Authorities in New South Wales and South Australia, as well as the national capital, Canberra, have told children who have recently travelled to Melbourne to stay away from school for a week on their return home.
The entire squad and staff of the Brisbane Broncos rugby league club have been put into quarantine as tests are carried out on a player suspected of contracting swine flu.
For that to happen, officials would have to verify that the disease had become established outside North America, where the crisis began.
"Once I get indisputable evidence, I will make the announcement," said WHO director general, Margaret Chan.
More than 1,200 people have contracted the virus in Australia - none fatally.
The total means Australia has seen a four-fold increase in a week.
Less than a month ago the country had only a handful of cases of the H1N1 virus but it now has the highest number of infections outside North America.
Victoria and the state capital, Melbourne, are the worst-hit with more than 1,000 confirmed cases.
Evolving
Most of those affected are suffering only a mild illness, but the Health Minister of Australia's Queensland state, Paul Lucas, has warned that the contagious respiratory condition would inevitably claim lives.
The head of the WHO's global influenza programme, Keiji Fukuda, said the situation had "evolved a lot" in recent days.
"We are getting close to knowing that we are in a pandemic situation," he said.
But Dr Fukuda urged calm. "It does not mean that the severity of the situation has increased or that people are getting seriously sick at higher numbers or higher rates than before," he said.
Following the major outbreaks in North America the flu alert is currently at phase five of a six-level scale.
The virus has infected more than 26,500 people in 73 countries.
The WHO held a conference call with governments on Wednesday, but afterwards said no decision had been taken on moving to phase six - the pandemic stage - at the moment.
Gregory Hartl, WHOs spokesperson for epidemic and pandemic diseases, said if a pandemic was announced it would not be the "apocalyptic situation" envisaged when bird flu looked liked it would be the cause.
"What we are seeing now with H1N1 is that in most cases the disease is self-limting, lets say 98-98% of the people we know to be affected recover without any need for hospitalisation, as far as we can tell.
"We do understand that the natural reaction of people if and when we declare phase six could be very strong.
"But we would hope that there would be quiet quickly an adjustment reaction, as happened in the US, when people realised they weren't getting seriously ill."
BBC medical correspondent Fergus Walsh says it is true that the word "pandemic" sounds scary. But it simply means a global epidemic of an infectious disease.
He says it is not a signal that the virus is getting more virulent - only a measure of its geographical spread.
As the number of H1N1 cases in Australia passes 1,200, Singapore has urged its citizens to avoid travel to Victoria.
Authorities in New South Wales and South Australia, as well as the national capital, Canberra, have told children who have recently travelled to Melbourne to stay away from school for a week on their return home.
The entire squad and staff of the Brisbane Broncos rugby league club have been put into quarantine as tests are carried out on a player suspected of contracting swine flu.
Aso Seeks 15% Japan Emissions Cut
Prime Minister Taro Aso announced that Japan, a global manufacturing hub for automobiles and electronics, aims to cut greenhouse-gas emissions 15% below 2005 levels by 2020.
But meeting that ambitious target will pose a significant challenge to the world's second-largest economy as it struggles to recover from its worst recession since World War II.
Under the current Kyoto Protocol, which set limits to countries' greenhouse gas emissions, Japan agreed to reduce its carbon output by 6% from 1990 levels between 2008 and 2012. But Japan has made no progress toward this goal; in fact, greenhouse-gas emissions have increased by 14% over 1990 levels, according to Japan's Ministry of Environment.
Due to the country's inability to reduce emissions in recent years, Japan's new target of a 15% reduction from 2005 levels by 2020 is actually equivalent to only an 8% cut below Japan's 1990 emission levels. Although its reduction targets appear to not be as aggressive as other nations', Japan argues that its industries are comparatively cleaner and more energy efficient than other nations' and thus don't need to make larger cuts.
Mr. Aso warned Wednesday that his plan to reduce greenhouse gases will increase unemployment, reduce Japan's gross domestic product and put new financial burdens on Japanese households and industries as the country invests heavily in solar power and other new technologies, expands the use of eco-friendly cars like hybrid electric vehicles and adds insulation and eco-friendly appliances to homes.
Still, opinion polls suggest broad Japanese support for more strict emissions reductions to address the problem of global warming.
According to a recent government study, the added expenses for government, business and individuals to achieve a 14% decrease in carbon-gas emissions from 2005 levels by 2020 would decrease Japan's GDP by 0.6% and raise unemployment by 0.2%. Japanese households would face an additional one-time cost of 30,000 yen for lighting and heating expenses. The government said Wednesday that a 15% cut would have a similar impact on Japan.
Already facing tough competition from China, India and other developing nations, Japanese manufacturers pushed for less ambitious targets, the government said. But critics -- including Greenpeace -- slammed Mr. Aso's plan, saying it was far from what is required to stop dangerous climate change.
In the U.S., a proposal making its way through the U.S. House of Representatives calls for cutting U.S. emissions 17% below 2005 levels by 2020 and 83% below 2005 levels by 2050. China, which is widely believed to have surpassed the U.S. as the world's largest emitter of greenhouse gases, has instituted national energy-efficiency standards but has resisted capping its emissions, arguing that the U.S. should take steps before poorer nations do.
In a document outlining its negotiating stance ahead of December climate talks in Copenhagen, China said last month that developed nations should cut their greenhouse-gas emissions by at least 40% by 2020 from 1990 levels, a significantly more aggressive cut than anything being contemplated by U.S. officials.
If Japan can meet its target, Mr. Aso said it would serve as a stepping stone to Japan's longer-term goal of curbing emissions by 60% to 80%, from current levels, by 2050, though meeting such targets would require many technological breakthroughs and greater reliance on nuclear power.
Mr. Aso's announcement came as many governments are preparing for the United Nations conference in December. Talks are under way this week in Bonn, Germany, with delegates from 182 countries to produce a draft of a new agreement to combat global warming that would take effect in 2012.
But meeting that ambitious target will pose a significant challenge to the world's second-largest economy as it struggles to recover from its worst recession since World War II.
Under the current Kyoto Protocol, which set limits to countries' greenhouse gas emissions, Japan agreed to reduce its carbon output by 6% from 1990 levels between 2008 and 2012. But Japan has made no progress toward this goal; in fact, greenhouse-gas emissions have increased by 14% over 1990 levels, according to Japan's Ministry of Environment.
Due to the country's inability to reduce emissions in recent years, Japan's new target of a 15% reduction from 2005 levels by 2020 is actually equivalent to only an 8% cut below Japan's 1990 emission levels. Although its reduction targets appear to not be as aggressive as other nations', Japan argues that its industries are comparatively cleaner and more energy efficient than other nations' and thus don't need to make larger cuts.
Mr. Aso warned Wednesday that his plan to reduce greenhouse gases will increase unemployment, reduce Japan's gross domestic product and put new financial burdens on Japanese households and industries as the country invests heavily in solar power and other new technologies, expands the use of eco-friendly cars like hybrid electric vehicles and adds insulation and eco-friendly appliances to homes.
Still, opinion polls suggest broad Japanese support for more strict emissions reductions to address the problem of global warming.
According to a recent government study, the added expenses for government, business and individuals to achieve a 14% decrease in carbon-gas emissions from 2005 levels by 2020 would decrease Japan's GDP by 0.6% and raise unemployment by 0.2%. Japanese households would face an additional one-time cost of 30,000 yen for lighting and heating expenses. The government said Wednesday that a 15% cut would have a similar impact on Japan.
Already facing tough competition from China, India and other developing nations, Japanese manufacturers pushed for less ambitious targets, the government said. But critics -- including Greenpeace -- slammed Mr. Aso's plan, saying it was far from what is required to stop dangerous climate change.
In the U.S., a proposal making its way through the U.S. House of Representatives calls for cutting U.S. emissions 17% below 2005 levels by 2020 and 83% below 2005 levels by 2050. China, which is widely believed to have surpassed the U.S. as the world's largest emitter of greenhouse gases, has instituted national energy-efficiency standards but has resisted capping its emissions, arguing that the U.S. should take steps before poorer nations do.
In a document outlining its negotiating stance ahead of December climate talks in Copenhagen, China said last month that developed nations should cut their greenhouse-gas emissions by at least 40% by 2020 from 1990 levels, a significantly more aggressive cut than anything being contemplated by U.S. officials.
If Japan can meet its target, Mr. Aso said it would serve as a stepping stone to Japan's longer-term goal of curbing emissions by 60% to 80%, from current levels, by 2050, though meeting such targets would require many technological breakthroughs and greater reliance on nuclear power.
Mr. Aso's announcement came as many governments are preparing for the United Nations conference in December. Talks are under way this week in Bonn, Germany, with delegates from 182 countries to produce a draft of a new agreement to combat global warming that would take effect in 2012.
Australian varsities come up with 10-point plan
With the attacks on Indian students in Australia showing no signs of abating, with the latest victim being a 23-year-old student who was
beaten up on Sunday, the universities in Australia have come up with a 10-point plan. Universities Australia, the industry peak body representing the university sector, has come up with a plan for student safety based on the recommendations by the deputy and pro vice-chancellors from Australian universities.
The organisation had held a meeting in Canberra on June 4 and 5, during which they met members of the diplomatic community of Canberra, Australian government officials and others, including Indian high commissioner Sujatha Singh. The plan released by the organisation on Tuesday focuses on strong law enforcement and necessary complementary actions.
"The meeting affirmed the importance of international integration through education. It unreservedly condemned the deplorable attacks that have been reported involving international students studying in Australia," said Glenn Withers, the chief executive of Universities Australia, in the release.
The 10-point plan includes providing pro-active and preventive approaches to assure student safety and collaborating with the local law enforcement authorities to increase levels of security. It also mentions that there needs to be improved cultural awareness. The increased visibility of police and security officers in locations where international students study, work, travel and live is a must,'' the plan reads.
The TOI got in touch with a few Australian universities to enquire if they were planning any measures with regards to the safety of Indian students. The media and communications co-ordinator of the University of Wollongong (UOW), Kate McIlwain, replied through e-mail: "Our faculties and our student central area have been put on high alert to look out for any international students who wish to raise any concerns about their welfare." UOW, which has over 1,100 Indian students enrolled with them, has also sent out an e-mail to all its students assuring them of their support.
The Royal Melbourne Institute of Technology (RMIT) through a statement from its vice-chancellor Margaret Gardner sought to reassure the Indian students of their importance to the university. "International students bring diversity and fresh perspectives to the university and this is highly valued. The RMIT also has an International Student Information and Support (ISIS) department that acts as a central point of contact for international students throughout their studies at the RMIT," she said. The RMIT also has around 1,100 Indian students currently.
Meanwhile, Withers also called for close co-operation between all education providers, the government, state authorities, foreign governments and their diplomatic representatives and other partners, to find solutions to the problems faced by the international students. "To implement this plan, the university sector is ready to work with national and state or territory authorities and other stakeholders such as other education providers, community representatives and those who employ student workers," he added.
Meanwhile, Indian student Anoop Nair said that, while the safety of the Indian students is mainly the concern of the Australian government, the universities' help can go a long way. "They can meet the Indian students regularly and keep tabs on their safety, while also asking the local students to support us in areas like transport, etc. They should also provide a helpline where the student can call if he/she is in trouble after which the university should contact the police directly."
The Monash University, that has about 700 Indian enrolments, on the other hand, conducts lectures by the Australian police officials, who advise the students on safety within the community. In an e-mail to its students, the vice-chancellor of the university, Richard Larkins says, "We seek to create a safe environment at all of our campuses. the University Security is available on every campus for immediate response to threatening situations."
Some universities also pointed out the necessity for Indian students to adopt safety measures themselves. "We are advising students to not flash any expensive gadgets like iPods or laptops in public. We have also advised them on the benefits of living on campus. Additionally, if they find it difficult or uncomfortable to talk to a non-Indian, we have appointed some Indians to advise the students on their problems," said Vidyananda Sagaram, the country co-ordinator of La Trobe University.
beaten up on Sunday, the universities in Australia have come up with a 10-point plan. Universities Australia, the industry peak body representing the university sector, has come up with a plan for student safety based on the recommendations by the deputy and pro vice-chancellors from Australian universities.
The organisation had held a meeting in Canberra on June 4 and 5, during which they met members of the diplomatic community of Canberra, Australian government officials and others, including Indian high commissioner Sujatha Singh. The plan released by the organisation on Tuesday focuses on strong law enforcement and necessary complementary actions.
"The meeting affirmed the importance of international integration through education. It unreservedly condemned the deplorable attacks that have been reported involving international students studying in Australia," said Glenn Withers, the chief executive of Universities Australia, in the release.
The 10-point plan includes providing pro-active and preventive approaches to assure student safety and collaborating with the local law enforcement authorities to increase levels of security. It also mentions that there needs to be improved cultural awareness. The increased visibility of police and security officers in locations where international students study, work, travel and live is a must,'' the plan reads.
The TOI got in touch with a few Australian universities to enquire if they were planning any measures with regards to the safety of Indian students. The media and communications co-ordinator of the University of Wollongong (UOW), Kate McIlwain, replied through e-mail: "Our faculties and our student central area have been put on high alert to look out for any international students who wish to raise any concerns about their welfare." UOW, which has over 1,100 Indian students enrolled with them, has also sent out an e-mail to all its students assuring them of their support.
The Royal Melbourne Institute of Technology (RMIT) through a statement from its vice-chancellor Margaret Gardner sought to reassure the Indian students of their importance to the university. "International students bring diversity and fresh perspectives to the university and this is highly valued. The RMIT also has an International Student Information and Support (ISIS) department that acts as a central point of contact for international students throughout their studies at the RMIT," she said. The RMIT also has around 1,100 Indian students currently.
Meanwhile, Withers also called for close co-operation between all education providers, the government, state authorities, foreign governments and their diplomatic representatives and other partners, to find solutions to the problems faced by the international students. "To implement this plan, the university sector is ready to work with national and state or territory authorities and other stakeholders such as other education providers, community representatives and those who employ student workers," he added.
Meanwhile, Indian student Anoop Nair said that, while the safety of the Indian students is mainly the concern of the Australian government, the universities' help can go a long way. "They can meet the Indian students regularly and keep tabs on their safety, while also asking the local students to support us in areas like transport, etc. They should also provide a helpline where the student can call if he/she is in trouble after which the university should contact the police directly."
The Monash University, that has about 700 Indian enrolments, on the other hand, conducts lectures by the Australian police officials, who advise the students on safety within the community. In an e-mail to its students, the vice-chancellor of the university, Richard Larkins says, "We seek to create a safe environment at all of our campuses. the University Security is available on every campus for immediate response to threatening situations."
Some universities also pointed out the necessity for Indian students to adopt safety measures themselves. "We are advising students to not flash any expensive gadgets like iPods or laptops in public. We have also advised them on the benefits of living on campus. Additionally, if they find it difficult or uncomfortable to talk to a non-Indian, we have appointed some Indians to advise the students on their problems," said Vidyananda Sagaram, the country co-ordinator of La Trobe University.
Singapore Air CEO: Business Environment Remains Challenging
Singapore Airlines Ltd.'s (C6L.SG) chief executive Sunday said the business environment remains challenging due to the slowing global economy and conditions in the crude oil market.
"The current environment is challenging. Our attention is right now preoccupied by the business challenges we face," Chew Choon Seng told Dow Jones Newswires.
Chew is here to attend the three-day International Air Transport Association's 65th annual general meeting.
Singapore Airlines is facing a difficult operating environment as a slowing global economy crimps demand for business and leisure travel. For the fourth quarter ended March 31, the airline, which is majority-owned by Temasek Holdings, posted a 92% drop in net profit to S$42 million due to fuel-hedging losses and a drop in demand for air travel.
The airline also warned that the uncertainties from the swine flu will have an impact on its business.
"The environment is very challenging because of the (global) crude oil environment and the depressed conditions we are all facing," Chew said.
On the airline's plans in China, Chew said that Singapore Air is open to opportunities in the region, but declined to comment on whether it is still interested in China Eastern Airlines Corp. (CEA).
Recently, China Eastern's board secretary, Luo Zhuping, said that the Chinese government hopes that Singapore Air will invest in China Eastern after the Singaporean airline allowed its offer to lapse last year.
Chew had said earlier that talks with CEA haven't been revived, but that his airline was interested in China's airline sector.
"In the longer term, China, India and so on represent important economies in which we hope to be able to participate in. But it very much depends on the regulatory environment, what the governments in those countries decide upon," Chew said Sunday.
"The current environment is challenging. Our attention is right now preoccupied by the business challenges we face," Chew Choon Seng told Dow Jones Newswires.
Chew is here to attend the three-day International Air Transport Association's 65th annual general meeting.
Singapore Airlines is facing a difficult operating environment as a slowing global economy crimps demand for business and leisure travel. For the fourth quarter ended March 31, the airline, which is majority-owned by Temasek Holdings, posted a 92% drop in net profit to S$42 million due to fuel-hedging losses and a drop in demand for air travel.
The airline also warned that the uncertainties from the swine flu will have an impact on its business.
"The environment is very challenging because of the (global) crude oil environment and the depressed conditions we are all facing," Chew said.
On the airline's plans in China, Chew said that Singapore Air is open to opportunities in the region, but declined to comment on whether it is still interested in China Eastern Airlines Corp. (CEA).
Recently, China Eastern's board secretary, Luo Zhuping, said that the Chinese government hopes that Singapore Air will invest in China Eastern after the Singaporean airline allowed its offer to lapse last year.
Chew had said earlier that talks with CEA haven't been revived, but that his airline was interested in China's airline sector.
"In the longer term, China, India and so on represent important economies in which we hope to be able to participate in. But it very much depends on the regulatory environment, what the governments in those countries decide upon," Chew said Sunday.
Investors Predict Globalization Of Industry, Especially To China
Venture capitalists expect their industry to grow increasingly global, as firms shift more attention to Asia and as institutional investors around the world seek to add venture funds to their portfolios, a survey shows.
Half of 725 venture capitalists queried said they expect their investment in Asia (excluding India) to increase over the next three years, while 12% projected a decline, according to the 2009 Global Venture Capital Survey conducted by Deloitte Touche Tohmatsu and the National Venture Capital Association. Meanwhile, 43% said they planned to boost their investing in India. The survey, which included U.S., European, Asia Pacific, Israeli and non-U.S. American investors, found that 52% of respondents already invest outside their home country.
Burgeoning middle classes and relatively strong economic growth are prompting venture investors to see strong opportunity in Asian countries such as China. “You have a huge market and a lot of problems that can be solved in China,” said NVCA President Mark Heesen in a conference call Tuesday. “The United States is no longer the only area in the world for venture capital activity.”
Venture firms raising funds are also searching the globe for investors. Fifty-four percent of respondents predicted that their number of limited partners outside their home country would increase, while 38% said the number would remain the same, and 8% predicted that foreign limited partner involvement would decline. While U.S. firms don’t look at the federal government as a direct source of capital, governments in other countries are more active in supporting venture capital firms.
“You are going to continue to see marked interest around the world in this asset class,” Heesen said. “This is a not a zero sum game; we believe everyone can win in this new global venture capital environment.”
But survey respondents said China stands to gain from the downturn that’s drying up investment in the U.S. and other Western nations. Thirty-eight percent said China has the most to gain from the crisis, while 18% chose the U.S. Further, 51% said the U.S. had the most to lose from the downturn, though Heesen said this is not unexpected considering that the U.S. has been the industry leader. “When you’re on top, you have the most to lose,” he said.
Globalization, however, is only one of the trends shaking up the industry. Another is a general winnowing of venture capital firms. Institutions will continue to invest in venture firms that have delivered good returns, but will cut off those that haven’t, Heesen said. In the coming years, 10% to 15% of firms operating today will disappear because they will be unable to get their existing limited partners to re-up or find new investors, he said.
Meantime, venture firms have spent the bulk of this year reassessing their portfolios, which has contributed to a general slowdown in new investment. In some ways, the downturn has made it easier to sort through a portfolio, said Steve Fredrick, general partner of Grotech Ventures, in an interview.
“It’s getting easier to do that triage, because the market is sending decisive signals as to what has traction and what doesn’t,” Fredrick said.
Now that firms are completing the process, however, they can get back to making new deals, said Terry McGuire, managing general partner of Polaris Venture Partners and chairman of the NVCA, during the conference call. “We have our houses in order for the most part,” McGuire said. “You’re going to see a lot more investment coming in the second half of the year.”
Much of that investment will likely be in later-stage companies, according to the survey. Thirty-six percent of respondents said they intend to move toward later-stage investing to support existing portfolio companies. Just 6% intend to move toward early-stage investing.
This is partly because firms are looking to shorten the time to exit, but for many firms, it’s not by choice, Heesen said. Older firms with large portfolios have many maturing companies that need capital, so firms by necessity are spending much of their money and time on these holdings, he said.
The survey shows that venture investors intend to move away from traditional, maturing industries such as semiconductors and telecommunications, and toward emerging opportunities in fields such as clean technology and medical devices. Sixty-three percent of venture capitalists surveyed said they expect to boost their investments in clean technology over the next three years, while 37% said they planned to ratchet up investment in medical devices. Just 15% said they planned to invest more in telecom, while 6% were looking to invest more in semiconductors.
Half of 725 venture capitalists queried said they expect their investment in Asia (excluding India) to increase over the next three years, while 12% projected a decline, according to the 2009 Global Venture Capital Survey conducted by Deloitte Touche Tohmatsu and the National Venture Capital Association. Meanwhile, 43% said they planned to boost their investing in India. The survey, which included U.S., European, Asia Pacific, Israeli and non-U.S. American investors, found that 52% of respondents already invest outside their home country.
Burgeoning middle classes and relatively strong economic growth are prompting venture investors to see strong opportunity in Asian countries such as China. “You have a huge market and a lot of problems that can be solved in China,” said NVCA President Mark Heesen in a conference call Tuesday. “The United States is no longer the only area in the world for venture capital activity.”
Venture firms raising funds are also searching the globe for investors. Fifty-four percent of respondents predicted that their number of limited partners outside their home country would increase, while 38% said the number would remain the same, and 8% predicted that foreign limited partner involvement would decline. While U.S. firms don’t look at the federal government as a direct source of capital, governments in other countries are more active in supporting venture capital firms.
“You are going to continue to see marked interest around the world in this asset class,” Heesen said. “This is a not a zero sum game; we believe everyone can win in this new global venture capital environment.”
But survey respondents said China stands to gain from the downturn that’s drying up investment in the U.S. and other Western nations. Thirty-eight percent said China has the most to gain from the crisis, while 18% chose the U.S. Further, 51% said the U.S. had the most to lose from the downturn, though Heesen said this is not unexpected considering that the U.S. has been the industry leader. “When you’re on top, you have the most to lose,” he said.
Globalization, however, is only one of the trends shaking up the industry. Another is a general winnowing of venture capital firms. Institutions will continue to invest in venture firms that have delivered good returns, but will cut off those that haven’t, Heesen said. In the coming years, 10% to 15% of firms operating today will disappear because they will be unable to get their existing limited partners to re-up or find new investors, he said.
Meantime, venture firms have spent the bulk of this year reassessing their portfolios, which has contributed to a general slowdown in new investment. In some ways, the downturn has made it easier to sort through a portfolio, said Steve Fredrick, general partner of Grotech Ventures, in an interview.
“It’s getting easier to do that triage, because the market is sending decisive signals as to what has traction and what doesn’t,” Fredrick said.
Now that firms are completing the process, however, they can get back to making new deals, said Terry McGuire, managing general partner of Polaris Venture Partners and chairman of the NVCA, during the conference call. “We have our houses in order for the most part,” McGuire said. “You’re going to see a lot more investment coming in the second half of the year.”
Much of that investment will likely be in later-stage companies, according to the survey. Thirty-six percent of respondents said they intend to move toward later-stage investing to support existing portfolio companies. Just 6% intend to move toward early-stage investing.
This is partly because firms are looking to shorten the time to exit, but for many firms, it’s not by choice, Heesen said. Older firms with large portfolios have many maturing companies that need capital, so firms by necessity are spending much of their money and time on these holdings, he said.
The survey shows that venture investors intend to move away from traditional, maturing industries such as semiconductors and telecommunications, and toward emerging opportunities in fields such as clean technology and medical devices. Sixty-three percent of venture capitalists surveyed said they expect to boost their investments in clean technology over the next three years, while 37% said they planned to ratchet up investment in medical devices. Just 15% said they planned to invest more in telecom, while 6% were looking to invest more in semiconductors.
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