As he steps back into the organisation in his new role as strategic business partner and President of the Singapore branch, Chung Hun is filled with a mixture of excitement, nostalgia, and anticipation for the opportunities that lie ahead.
“Over the years, I’ve had the privilege of gaining diverse experiences in many different roles across the maritime industry. However, when the opportunity arose to return to LR, I found myself intrigued. I had spent a significant part of my career with LR as Marine Operations Manager in Singapore between 2005 and 2012 and I still felt a strong attachment to the organisation.
“Many of my former colleagues are still here, and in some ways, it's like picking up where we left off. But this return isn’t just about reuniting with old friends—it’s also about stepping into my new role, where I can leverage the relationships and trust I’ve built in the shipping community over the years.”
Another reason for his return is to help the Singapore branch navigate through its ongoing transformation in terms of organisational structure and work processes. While these changes have posed some challenges, Chung Hun has identified where his priorities will be focused to help navigate them.
“I would say that my key priorities over the next five years is for LR to once again be the go-to partner of choice for our clients when it comes to classification, statutory and advisory services. I would like LR to be associated with technical expertise, competency, reliability, and trustworthiness in the minds of our clients.
“Internally, my priority over the near term is to make the LR Singapore branch a workplace where people feel valued, motivated, and empowered to do their best work and an employer of choice for our future colleagues, so that we can attract the much-needed talent to develop and serve our clients.”
While the company is undergoing its internal transformation, there are also significant challenges facing LR in the wider maritime sector, he says.
“I would say the perception of class services as a commodity is one of the biggest challenges facing classification societies today. There is hardly anything that one classification society can do which the other societies cannot. Clients now see classification services as interchangeable, which has led to intense price competition. Unfortunately, this commoditisation has led to a “race to the bottom,” where price becomes the deciding factor in many cases, rather than quality or expertise. That is unfortunate because it takes time and resources for a classification society to train and develop a competent surveyor and auditor, aside from research and development works for ship designs and rules development.
“There should be some appreciation in the industry for the services rendered by classification societies because the societies do not only provide the physical surveys and audits services, but we are also ever present to advise and assist whenever required as a trusted partner for compliance and technical matters.
While this is a challenging environment for LR, Chung Hung feels there are plenty of opportunities to stand out in a competitive, price-driven market. “LR has always been known for its technical expertise, and now, more than ever, we need to capitalise on that reputation. We need to differentiate ourselves by offering services that go beyond the basics of classification. Decarbonisation, digitalisation, and sustainability are all areas where we can provide real value to our clients, helping them navigate not just the complex and evolving regulatory landscape, but also the demands and expectations of their clients.
“With the transformation of LR and our conscious effort to be an organisation that is easy to work with, we will be well placed to be the partner of choice for our clients, not just in terms of classification services, but also for technical and business advisory services.”
Singapore holds a unique position in the shipping market. One of the reasons is of course its unique location, which has made Singapore a trading hub at the crossroads of major shipping lanes for over 100 years. Beyond geography, Singapore’s stable government, pro-business policies, and openness to foreign talent make it an attractive destination for businesses and individuals.
“Singapore is an international maritime centre with a critical mass of talent, investment, and supporting services, from marine finance to arbitration, insurance, and classification. As such, LR’s Singapore branch is a key gateway where LR can work with the maritime industry to pursue our strategic goals, particularly in the areas of sustainability and innovation. This is especially so in terms of our technical and business advisory services, where we can collaborate with like-minded clients in Singapore to pursue common goals.
“Singapore is also a very open society. It is very easy for foreign expatriates to bring their family and work here in terms of food, in terms of language, in terms of family, schooling, safety and convenience of travel. That makes it so conducive for people to come and work. It makes it very attractive for talent to come. And with talent comes investment and with investment comes opportunities. It applies to all other industry, not just maritime.”
The challenges that Chung Hun faces are significant, but so are the opportunities. With the right focus on quality, service, and innovation, he believes that LR is well-positioned to continue its legacy as a leader in the maritime industry. “For me, personally, this is more than just a job—it is a chance to contribute to an organisation that has played a significant role in my professional life, and to help shape its future.”
