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Singapore: Smart Port Challenge 2024 aims to attract wider audience of global start-ups

Competition features 14 challenge statements covering areas such as maritime green technologies, including some related to the bunker fuel sector including on methanol and ammonia.

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Singapore: Smart Port Challenge 2024 aims to attract wider audience of global start-ups

The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), on Thursday (30 May) launched the Smart Port Challenge (SPC) 2024. 

The annual event to attract start-ups with innovative technology-driven solutions to help address the industry’s key challenges, was held during the InnovFest x Elevating Founders 2024, the official start-up event of Asia Tech x Singapore.

Dr Amy Khor, Senior Minister of State, Ministry of Transport and Ministry of Sustainability and the Environment launched SPC24 at the event attended by more than 200 international start-ups, venture capitalists, corporations, and participants. Please refer to Annex A for the SPC2024 launch programme.

Organised by PIER71™1 , SPC2024 will for the first time concurrently launch in Singapore and several overseas partner markets. PIER71™ will leverage the extensive network of BLOCK71 and MPA’s new regional offices and organise six international roadshows in key maritime hubs across Asia, Europe, and North America in June 2024, to attract a wider audience of global start-ups, innovators, and venture capitalists to participate in SPC. 

Apart from forging new networks and partnerships, the roadshows aim to create greater awareness of the vibrant technology and innovation ecosystem, and investment opportunities in Singapore. PIER71™ also hopes to encourage overseas start-ups to incubate and develop their cutting-edge technologies and solutions in Singapore.

Launch of Smart Port Challenge 2024

SPC2024 unveiled 14 challenge statements focusing on four key areas: maritime green technologies; smart shipping; next generation ports; and digitalisation, which includes artificial intelligence, cybersecurity and cloud technologies. These challenge statements reflect the key issues facing the global maritime industry and the diverse opportunities that start-ups can participate in to shape its future. 

Some of the bunker-related challenge statements include improving crew safety in handling methanol as a marine fuel, managing ammonia risk and enhancing charging and battery performance.

Shortlisted start-ups will undergo a 12-week PIER71™ Accelerate programme and may be eligible for MPA Maritime Innovation and Technology (MINT) grant funding of up to SGD 100,000 for proof-of-concept or pilot projects, and up to SGD 250,000 for new product development. They will also receive support through PIER71™’s global network of partners. The top three winners for SPC2024 will be awarded with cash prizes at the finals in November 2024. Start-ups interested in participating in SPC2024 can find more information and submit proposals through PIER71™’s website at https://pier71.sg. The deadline for submission is 8 July 2024.

Five Start-ups Awarded MINT Grants

At the event, MPA awarded five outstanding maritime technology (MarineTech) start-ups which participated in SPC2023, with grants totalling SGD 250,000 from the Maritime Innovation and Technology (MINT) Fund. The number of start-ups under PIER71™ has grown from 17 in 2018 when PIER71™ was launched, to more than 100 today. MPA will continue to work with its partners to reach the goal of 150 MarineTech start-ups in Singapore by 2025.

The grants will support the five start-ups in developing prototypes and solutions, including a platform for optimisation, evaluation and verification of biofuel blends, a mobile platform for real-time vessel activity monitoring in port, a cybersecurity solution for networks on board a vessel, a digital tool for enhanced ship inspection and auditing, and a digital twin for container depot operations. 

Mr Kenneth Lim, MPA’s Assistant Chief Executive (Industry & Transformation), said: “The PIER71™ Smart Port Challenge continued to be a relevant platform for innovation in the maritime sector.”

“By attracting diverse solutions from start-ups, SPC promotes innovation and helps accelerate the development of cutting-edge technologies through collaboration with the industry.”

“I am excited about the international roadshows for SPC2024 and look forward seeing more novel solutions to address the industry’s challenges.”

Professor Chen Tsuhan, NUS Deputy President (Innovation and Enterprise), said: “Our collaboration with MPA will further broaden the impact within the growing maritime innovation ecosystem in Singapore and beyond.”

“By leveraging NUS’ robust resources and talent, along with our extensive global BLOCK71 network, we are committed to nurturing an environment that supports start-ups and innovators from all over the world, whether they are establishing themselves in Singapore or expanding overseas.”

“With the support of MPA’s regional directors worldwide, this partnership extends valuable resources and growth opportunities to maritime talents and start-ups, driving innovation and leaving a lasting impact on the maritime industry.”

Note: Annex B on the challenge statements and Annex C on the recipients of Maritime Innovation and Technology (MINT) Grant can be viewed here.

 

Photo credit: Maritime and Port Authority of Singapore
Published: 31 May 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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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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