I welcome the Volvo Ocean Race to Singapore. This is an historical moment - as Singapore is the first South-east Asian stopover in the 34-year history of the Volvo Ocean Race. We welcome the teams competing in this prestigious sailing event that is often regarded as the "Everest of Sailing". You have travelled 13,000 nautical miles from Spain to South Africa to India and now to Singapore. I trust that the journey was worth it and that you have been able to rest and enjoy the hospitality in Singapore. We also welcome your families, who have come to usher in the New Year with you, and to cheer you on for the next leg of the race.

Click here for the full speech.