Could you provide some updates on what has been happening at the Maritime and Port Authority (MPA)?

Over the past year, MPA's performance has been impressive. We maintained our position as the world's largest trans-shipment hub with the second-highest container throughput of 37.3 million TEUs. This achievement, along with our status as the top bunkering hub and the best seaport in Asia for the 34th time, signifies our resilience. In 2022, we ranked as the top international maritime city according to both the Xinhua-Baltic International Shipping Centre Development Index as well as the Menon/DNV Leading Maritime Capitals Report among other accolades.

Moreover, our International Maritime Centre welcomed more than 170 international shipping groups, with a 30% increase in companies coming to Singapore in 2022 compared to 2021. Singapore’s bunker sales in 2022 included around 140,000 tons of biofuel blends, surpassing 16,000 tons of LNG bunker sales. On the ground, our Tuas Port project, set to be fully operational by 2040, reached a milestone of handling 1 million TEUs within six months of opening. What sustainability initiatives is MPA undertaking?

The Green and Digital Shipping Corridor (GDSC) is a collaboration with like-minded partners, ports, and energy ecosystems. GDSC serves as part of a network for the maritime industry to achieve its 2050 targets. In 2022, we signed an MOU with Port Rotterdam and later with Port of LA and Port of Long Beach, indicating a commitment towards a more sustainable shipping future.

Different partners, ports, and shipping routes collaborate on this initiative to track emissions and discuss effective solutions. Singapore maintains its stance as a multi-fuel port, studying various fuel sources like methanol, hydrogen, and biofuel, to ensure readiness. We announced the expression of interest for ammonia usage for electricity generation and bunkering, in collaboration with the Energy Market Authority of Singapore. From 2030, all new harbor craft operating in the Port of Singapore will have to be fully electric, be capable of using B100 biofuel, or be compatible with net zero fuels.

With a focus on reducing our carbon footprint, we are exploring alternative fuel options such as methanol, ammonia, and biofuel. The successful completion of the first methanol bunkering operation in July 2023 also marks a significant milestone for Singapore’s development towards a multi-fuel future, and a testament to Singapore’s commitment as the world’s largest bunkering hub to meet the future fuel needs of international shipping through safe and efficient bunkering operations. Could you shed more light on the digitalization and talent development initiatives undertaken by MPA?

We have various collaborations with research institutions underway to develop cutting-edge tech. To ensure that these technologies are put to good use, we have set up labs for testing, and sandboxes for drones and 3D printing in our port waters. Furthermore, our Port Innovation Ecosystem Reimagined (PIER71) program organizes annual challenges that invite global startups to devise innovative solutions for the industry's biggest challenges. This has led to exciting developments, such as AI-powered vessel traffic management systems and wider rollouts of 5G networks, enabling us to overcome our manpower limitations and improve port operation efficiency.

To ensure that Maritime Singapore remains reliable, resilient, and ready for the future, MPA is committed to working with our industry partners and unions to build a future-ready workforce that is equipped with the right skills and expertise as the industry transforms. Increasingly, this will also include skills and expertise in decarbonization, digitalization, and cybersecurity. Are there any other developments that you would like to share?

The IMO has enhanced and revised its initial strategy of reducing greenhouse gas emissions by 50% from 2008 levels by 2050 at the Marine Environment Protection Committee (MEPC) 80 this July. The timeline for the new IMO GHG targets by 2050 is only one ship's lifetime away. Innovation across the entire value chain, and port innovation must be accelerated to support this energy transition to meet the target.

The adoption by all IMO member states by consensus, without reservations, was significant in driving multilateralism and global action to address climate change.

This sends a clear signal for international shipping to fully decarbonize.