MPA inks collaborations with partners to advance decarbonisation efforts
The Maritime and Port Authority of Singapore (MPA) will join hands with industry partners under two separate agreements signed today to advance decarbonisation efforts in the maritime industry.
MPA signs a memorandum of cooperation (MoC) with BW Group, Sembcorp Marine, Eastern Pacific Shipping, Ocean Network Express, Foundation Det Norske Veritas and BHP to establish a fund for a maritime decarbonisation centre to be set up in Singapore. This follows the release of a recommendation by the International Advisory Panel on Maritime Decarbonisation (IAP) to set up a maritime decarbonisation centre in Singapore, according to MPA's release.
Under the MoC, each private sector partner will contribute S$10 million to support the establishment of the centre, fund maritime-decarbonisation-related research and technology development projects and collaborate with institutes of higher learning and research institutes. MPA will add S$60 million R&D funding to these contributions, bringing the fund to a total of S$120 million.
To drive and catalyse maritime decarbonisation efforts, MPA also signed a memorandum of understanding (MoU) with Singapore-headquartered investment company, 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, with Temasek and Temasek Portfolio Companies at the same event today.
