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Singapore Maritime Foundation holds New Year Conversations 2024

SMF Chairman Mr. Hor Weng Yew affirmed SMF’s commitment to further strengthen Singapore’s value proposition as a leading international maritime centre

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Singapore Maritime Foundation holds New Year Conversations 2024

The Singapore Maritime Foundation (SMF) on Friday (12 January) marked 20 years of building strong public-private partnership at the SMF New Year Conversations 2024 held at Pan Pacific Singapore.

Mr. Chee Hong Tat, Acting Minister for Transport, graced the event as the Guest-of-Honour and addressed 280 industry leaders representing the diverse segments of Singapore’s maritime ecosystem.

Building on the strong foundation established over the past two decades, SMF said it is continuing in expanding its programmes and intensifying efforts to promote Singapore as an international maritime centre, and to develop a talent pipeline to meet the evolving needs of the industry as transformation gathers pace.

On the talent development front, a record 60 MaritimeONE Scholarships were awarded in 2023 by SMF and 31 partners from industry, foundations, and unions. Since its inception in 2007, SMF and its partners have awarded close to 600 scholarships, with a sponsorship value of SGD 16 million.

To augment the scholarships and to provide the youths with opportunities for experiential learning, SMF in 2022 launched the MaritimeONE Internship Programme. Over the past two years, SMF placed more than 100 students in nearly 70 leading maritime companies. Likewise, the MaritimeONE case competitions, which connect students with maritime business and plug them into topical issues such as the intersection of technology and sustainability, have seen robust interest among the tertiary talent pool with a record 345 registrations in 2023.

To give impetus to the industry’s drive to draw youths and young adults to the sector, SMF in 2022 began the “Own Your Future” digital campaign. As a measure of the campaign’s reach, the series of nine videos produced have been collectively viewed nearly 1.9 million times.

Finally, to spur workforce transformation, SMF in 2023 co-sponsored “The Future of Seafarers 2030: A Decade of Transformation” study with DNV to examine the impact of decarbonisation and digitalisation on sea-going professionals, and launched the “Maritime Workforce Transformation Guide” with Pacific Carriers Limited and Pacific International Lines as pilot companies to testbed the usefulness of job redesign to enhance the career development of a technical superintendent and vessel operator.

In his welcome address, SMF Chairman Mr. Hor Weng Yew affirmed SMF’s commitment to further strengthen Singapore’s value proposition as a leading international maritime centre by enhancing interconnectedness within the maritime ecosystem and building linkages with other ecosystems beyond maritime. 

He also announced the formation of the first Maritime Mediators Panel (MMP) by the Singapore Chamber of Maritime Arbitration (SCMA) and the Singapore International Mediation Centre (SIMC). 

Drawn from the panels of both institutions, the inaugural panel aims to promote mediation as an alternative means of resolution of maritime and international trading disputes. The cross-institutional collaboration will further augment Singapore’s maritime dispute resolution landscape and strengthen its value proposition as a leading international maritime centre.

Another highlight was a panel discussion, which discussed a range of topics germane to the maritime community including the global and regional business outlook for the industry amid an increasingly complex operating environment intensified by competition and geopolitical risks, as well the evolving dynamics of the maritime workforce.

Mr. Hor Weng Yew, Chairman, SMF, said: “SMF has made a meaningful contribution to Maritime Singapore’s ecosystem over the past 20 years. We have and will continue to transform ourselves to be relevant to our stakeholders while being guided by our mission to strengthen Singapore as an international maritime centre and to build a talent pool to meet the evolving needs of the industry.”

“I believe the next phase for SMF’s evolution is to be a conduit for Maritime Singapore and other ecosystems beyond maritime. I thank our partners for supporting the work of SMF for the collective good. We will continue to build on this strong foundation of partnership and trust to do more to advance Maritime Singapore.”

 

Photo credit: Singapore Maritime Foundation
Published: 15 January, 2024

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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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