Singapore port, industry push decarbonisation plans

The Maritime and Port Authority (MPA) of Singapore today signed two agreements with industry partners to spur decarbonisation efforts in the maritime industry.

The agreements reflect that public-private sector partnerships will be key in the global effort to significantly decarbonise the maritime industry by as early as 2030.

MPA signed a Memorandum of Cooperation with six companies across the resources and shipping industry, namely BHP, BW Group, Eastern Pacific Shipping, Ocean Network Express, Sembcorp Marine and The Foundation Det Norske Veritas to fund the Maritime Decarbonisation Centre (MDC).

The inception of the MDC was announced earlier this week at the opening of Singapore Maritime Week.

Under the agreement, the six companies will each contribute S$10mn ($7.5mn) to support the establishment of the centre. The MPA will match the contribution and provide an additional S$60mn funding in research and development, which will bring total funding to S$120mn.

The MDC aims to be a focal point for the marine industry to work on issues of decarbonisation and innovation. Various research facilities will house experts from inside and outside the industry, including start-ups, to develop technologies and innovative solutions.

Collaboration with other maritime technology centres based in Singapore and elsewhere in the world will allow for the sharing of knowledge and the joint building of capabilities.

The MPA also signed a Memorandum of Understanding with Singaporean sovereign wealth fund Temasek to "explore collaborations related to decarbonisation of port operations, development and use of low-carbon and/or alternative marine energy sources and decarbonisation of the other parts of the global and regional maritime supply chain".

By Sammy Six