550 industry leaders discussed navigating maritime industry transformation through collaboration

The 15th Singapore Maritime Lecture, held in conjunction with Singapore Maritime Week 2021, gathered over 550 industry leaders virtually and onsite to share insights on transformational shifts in the maritime industry and the opportunities for growth through partnerships and collaborations.

At the event, Mr Yee Yang Chien, CEO and President of MISC Berhad, delivered a keynote speech titled ‘Making the Future Possible’. Mr Yee highlighted the value of collaboration to navigate two major shifts impacting the global maritime industry: the Fourth Industrial Revolution and the great energy transition. He cited “The Castor Initiative” – a joint development project to build the world’s first ammonia-fuelled tanker by 2025 – as an example of shifting paradigms to push the frontiers of industry transformation collectively.

Following his keynote address, Mr Yee joined Ms Vandita Pant, Chief Commercial Officer of BHP; Ms Pang Mei Yee, Global Practice Lead for Supply Chain and Analytics Head of Asia Pacific, DHL; and Mr Simon Kuik, President of the Association of Singapore Marine Industries, in a panel discussion.

During the panel discussion titled “How can the maritime sector transform through digitalisation and decarbonisation to stay ahead in the new normal?”, the panellists emphasised that urgent and collaborative action within the ecosystem is required to realise a sustainable future for the maritime industry.

Citing Singapore’s achievements as an LNG bunkering hub, Mr Yee added that the successes in adopting LNG as a transitional fuel pave the way for the development of other clean marine fuels. He shared that the resources and infrastructure established in Singapore will support the research and development of alternative fuels in the city-state.

The panellists said that decarbonisation is not just a challenge for today, but a challenge for our age. They urged the industry to work collaboratively to realise a more sustainable future, emphasising the importance of developing multiple pathways to decarbonisation. In closing, the panellists urged the industry to experiment and take actions to drive efforts on digitalisation and decarbonisation in the maritime industry.