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SMW 2021: MPA & Partners ink SGD 120 million fund to establish maritime decarbonisation centre

Two separate agreements were signed: an MoC with stakeholders in the shipping industry to establish the fund, and an MoU with investment company Temasek.

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The Maritime and Port Authority of Singapore (MPA) said it will join hands with industry partners under two separate agreements signed on Wednesday (21 April) to advance decarbonisation efforts in the maritime industry.

Chee Hong Tat, Senior Minister of State for Foreign Affairs and Transport, witnessed the signing of the two agreements.

Firstly, MPA signed 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.

Under the MoC, each private sector partner will contribute SGD 10 million (USD 7.5 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 SGD 60 million (USD 45 million) R&D funding to these contributions, bringing the fund to a total of SGD 120 million.

“Maritime decarbonisation is a global challenge requiring a collective responsibility from all stakeholders involved. It is crucial to have strong public-private sector partnerships,” said Quah Ley Hoon, Chief Executive of MPA.

“We thank like-minded partners that have responded strongly to our call for collaboration. The agreements signed today are two initial steps, which we hope will catalyse a larger, much needed momentum to make international shipping more sustainable.”

“We are delighted to be able to contribute to this initiative. Climate change is a defining challenge of our time, and the only way to tackle this is with cross-border, cross-sector collaboration,” added Andreas Sohmen-Pao, Chairman, BW Group.

“While helping to find solutions for the industry, companies can also help themselves to prepare for the future by being part of this effort. We look forward to partnerships and insights through the centre.”

“Collaboration and knowledge sharing is the new normal to advance decarbonisation in the maritime industry,” noted Wong Weng Sun, President & Chief Executive Officer, Sembcorp Marine.

“SembCorp Marine believes that an interconnected approach to tap the best- in-class capabilities of players in our industry will lead to breakthrough outcomes in decarbonisation.”

“Sustainability begins with accountability and maritime leaders have a responsibility to implement emission-lowering solutions available today while simultaneously developing solutions for tomorrow,” added Cyril Ducau, Chief Executive Officer, Eastern Pacific Shipping.

“The formation of a maritime decarbonisation centre is a major milestone, combining forces of both public and private industry players,” said Cyril Ducau, Chief Executive Officer, Eastern Pacific Shipping.

“It proves that the sector is willing to band together and take ownership of environmental preservation for future generations. EPS is proud to be part of this partnership.”

“This is a further significant step forward by ONE, in alignment with its new green strategy direction. ONE is committed to accelerating maritime decarbonisation collaboration at both governmental and private sector industry level,” commented Jeremy Nixon, CEO, Ocean Network Express.

“The Foundation Det Norske Veritas is driven by a desire to help society tackle major global transformations,” noted Remi Eriksen, Chief Executive Officer, Foundation Det Norske Veritas and DNV.

“Transforming the world energy system is one of the biggest challenges confronting society, and shipping must play its part. But this cannot be achieved without industry wide collaboration. Working together, I am confident the Centre will deliver a global impact on decarbonisation while further bolstering the Foundation’s purpose of safeguarding life, property and the environment.”

“The key to navigating the pathway to decarbonisation in the maritime industry is an ecosystem approach with all partners working collaboratively towards the same goal,” said Vandita Pant, Chief Commercial Officer, BHP.

“BHP is proud to sign this Memorandum of Cooperation (MoC), and is committed along with our other like-minded companies, to lead the maritime sector towards that goal through the marine decarbonisation centre.”

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.

“Decarbonisation is an important priority for the maritime industry. This MPA-Temasek agreement paves the way for joint efforts aimed at reducing carbon emissions across port operations, maritime supply chains and shipping, including new potential low- or no-carbon fuels for ships,” said Juliet Teo, Head of Transportation and Logistics at Temasek.

“This partnership underscores Temasek’s commitment to a net zero carbon emissions portfolio by 2050 by applying our capital to catalyse new, potentially game- changing, solutions to today’s carbon challenges.”

MPA Temasek

Photo credit: Maritime and Port Authority of Singapore
Published: 21 April, 2021

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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