The final session of the 23rd Singapore International Bunkering Conference and Exhibition (SIBCON 2024) on Thursday (10 October) focused on Singapore’s maritime digitalisation and decarbonisation ambitions.

Caroline Yang, President, Singapore Shipping Association, and Vice Chair, International Chamber of Shipping, performed the role of moderator for the session titled MPA and Industry Dialogue on the Singapore Road Map for Clean Fuels and Digitalisation.

Ms Yang set the scene by highlighting Singapore’s position as the top bunkering port in the world, with bunker sales reaching around 52 million metric tonnes (mt) in 2022. She forecast sales of marine fuel at the republic could reach 54 million mt in 2024.

She also outlined the key factors that have contributed to Singapore’s success as a bunkering hub, including its strategic location, competitive fuel pricing, availability of diverse fuel supplies, efficient bunkering operations, and robust standards and assurance.

Ms Yang posed a question to a Maritime and Port Authority of Singapore (MPA) representative asking how does Singapore ensure its continued success as the republic’s bunkering sector moves towards a multi-fuel future.

New Wei Siang, Director (Maritime Decarbonisation & Net-Zero Pathways), MPA responded to the moderator’s question by providing an overview of MPA’s initiatives in both digitalisation and decarbonisation and willingness to work closely with stakeholders to enable the transition.

On digitalisation, Mr New emphasised MPA’s efforts to digitalise as much of the voyage as possible to improve efficiency, from port clearances to voyage optimisation, as exemplified by a recent announcement on digital bunkering.

Regarding decarbonisation, Mr New highlighted MPA’s focus areas, such as reducing emissions from port terminals and domestic harbour craft, as well as supporting the transition to future low and zero-emission fuels for international shipping.

He acknowledged the challenges around the “chicken and egg” problem of supply and demand for alternative bunker fuels, and stated MPA is trying to help nudge the industry along through initiatives such as the refreshed Maritime Singapore Green Initiative (MSGI).

Mr New also stated that MPA is willing to work closely with industry players, provide feedback, and actively contribute at international platforms such as the International Maritime Organization (IMO) in the energy transition.

Choong Sheen Mao, Chief Operating Officer of Singapore’s largest bunker supplier Equatorial Marine Fuel Management Services (EMF) provided the perspective of a major bunker supplier on navigating the transition towards a multi-fuel future in Singapore’s bunkering ecosystem.

“Marine fuels is our core business. Looking at what our customers need, we realise we must gain experience and expertise in providing low and zero carbon bunker fuels to shipowners,” said Mr Choong.

“We started by getting ISCC certified, followed with biofuel trials. And now, we have invested in four new generation bunker tankers which can carry methanol and biofuel bunker blends of up to B100 including conventional marine fuels. Our first such tanker will be delivered at the end of 2024 together with three more across the next year. So, this gives us a bit of a range of capabilities.

“We are also involved in several initiatives launched by the MPA, such as participating in the EOI for methanol supply as a marine fuel. Other than that, we and Fortescue are jointly shortlisted, together, as a participant for the development of ammonia bunkering in Singapore.”

He discussed the challenges and opportunities associated with digitalisation and decarbonisation, emphasising the need for regulatory certainty and cost efficiency.

“We’ve accepted that digitalisation is no longer just to increase efficiency, it’s become a necessity,” said Mr Choong.

“Since 2018, we started our own technology department; we have gone through a few mistakes here and there – but I think we have learnt a lot.

“Interoperability is very important because you are going to be in a very tricky situation if you start with a platform or technology which you must deconstruct and rebuild the whole thing. We need to make sure our existing systems can be compatible with the different stakeholders in the industry.”

While decarbonisation efforts come with increased costs, it is important to be pragmatic and view it as an “insurance cost” to manage the risk of being left behind if certain marine fuel pathways emerge, he observed.

“Decarbonisation is a very expensive endeavour,” highlighted Mr Choong.

“Our focus is on optionality. We need to be able to hedge on risk by working together to help us to avoid more avoidable mistakes; this will help us bring down costs and keep us more focused and efficient while speeding up both digitalisation and decarbonisation at the same time.”

Manifold Times has covered SIBCON 2024 extensively. The following are all articles on the event to help readers recap on exciting announcements and panel discussions:

Related: SIBCON 2024: Enhancing mass flow meter bunker operations digitally with AI-powered insights
Related: SIBCON 2024: DNV dives into potential of energy efficiency tech in midst of green fuels demand
Related: SIBCON 2024: VPS, INTERTANKO, IBIA dive into traceability and transparency of bunker fuel
Related: SIBCON 2024: Oldendorff, Peninsula discuss uptake of traditional bunker fuels, risk management
Related: SIBCON 2024: Digitalised LNG bunkering process can help build trust among stakeholders
Related: SIBCON 2024: Bunkering conglomerates point out need of ‘level playing field’ on shipping’s multi-fuel future
Related: SIBCON 2024: EMF, Argus Media point towards traditional benchmarks as baseline for shipping’s multi-fuel future
Related: SIBCON 2024: ZeroNorth discusses challenges and opportunities of Singapore digital bunkering landscape
Related: SIBCON 2024: Singapore launches two new bunkering standards, revises third benchmark
Related: SIBCON 2024: Vitol anticipates securing LNG bunker licence in Singapore
Related: SIBCON 2024: Bunker players sign SCMA pledge to drive progress within Maritime Singapore
Related: SIBCON 2024: TFG Marine to launch ZeroNorth e-BDNs in Singapore
Related: SIBCON 2024: SGMF releases methanol and ammonia bunkering guidelines
Related: SIBCON 2024: Minerva Bunkering acquires Bomin Group, expanding US operations
Related: SIBCON 2024: Singapore bunker suppliers must provide e-BDN from 1 April 2025

Photo credit: Manifold Times
Published: 22 October 2024