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SMW 2022: Minister highlights ‘decisive green transition’ in keynote address

‘In the coming years, the maritime sector will also need to undergo a fuel transition, from today’s marine fuels to cleaner fuels,’ he states Mr Heng.
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Heng Swee Keat

The Singapore Maritime Week (SMW) 2022, organised by the Maritime and Port Authority of Singapore (MPA), opened on Monday (4 April) with Deputy Prime Minister and Coordinating Minister for Economic Policies, Singapore, Mr Heng Swee Keat delivering the keynote address.

Entitled ‘Riding out storms and seeking new opportunities – The maritime sector in a time of change’ Mr Heng’s speech outlined how Singapore, as a global maritime hub, is responding to global challenges impacting the maritime sector.

Amongst three main topics covered in his speech was the ‘decisive green transition’ to decarbonise shipping.

“We launched the Maritime Singapore Decarbonisation Blueprint last month. It has ambitious goals, which include making our ports net zero and reducing harbour craft emissions significantly by 2050,” he shared.

“The Blueprint was developed after in-depth consultations with industry, and recognises the need to green every segment of the supply chain – from our vessels, to our port and marine bunkering infrastructure.”

Mr Heng, meanwhile, said Singapore is also seeking to contribute towards the international maritime green transition.

“For example, we set up the Global Centre for Maritime Decarbonisation, bringing together industry partners, researchers, and MPA to drive R&D and to pilot novel decarbonisation solutions. The founding of the Centre was made possible through an initial $120 million contribution from government and six like-minded industry partners,” he explained.

“A second example is the Coastal Sustainability Alliance, a partnership to support the electrification of Singapore’s harbour crafts by jointly investing in a network of charging points for electric boats.

“Yet another example is the Clydebank Declaration for Green Shipping Corridors. Minister Iswaran announced earlier that Singapore will be joining this initiative, together with 22 other signatory states.”

Signatories of the Clydebank Declaration are to support the establishment of green shipping corridors – zero-emission maritime routes between two (or more) ports.

“We are only 30 years, or one ship generation, away from the global maritime emissions target set by IMO. With more than 100,000 merchant vessels plying our seas today, many will have to be replaced in the coming decades. Likewise, significant complementary changes on the port-side infrastructure will be needed,” he notes.

As a global financial centre, Singapore has some 20 international banks with ship finance portfolios. Singapore also has a pool of venture capital, private equity and alternative investment players, says Mr Heng.

Moving forward, Singapore is looking to build a green ship financing ecosystem, and develop a suite of financing options to enable the green transition.

“In the coming years, the maritime sector will also need to undergo a fuel transition, from today’s marine fuels to cleaner fuels,” he states.

“Singapore, Japan, and the Port of Rotterdam Authority have also formed the Future Fuel Port Network to develop a roadmap on the adoption of cleaner marine fuels.

“We are also a member of the Castor Initiative, a multinational coalition across the entire maritime ecosystem, that aims to design, build, and commission the world’s first ammonia-fuelled tanker by 2025.

“I welcome all of you to work with us on this journey towards a greener future.”

Related: MPA blueprint prepares marine fuels sector for multi-fuel bunkering transition
Related: Singapore making ‘significant efforts’ to build sustainable maritime hub, says Minister
Related: MPA and partners establish Global Centre for Maritime Decarbonisation
Related: SMW 2021: MPA & Partners ink SGD 120 million fund to establish maritime decarbonisation centre
Related: SIBCON 2020: Singapore enters memorandum of cooperation on future fuels port network
Related: Singapore: MPA and Yara Intl in Ammonia-fuelled tanker Joint Development Project

 

Photo credit: Maritime and Port Authority of Singapore
Published: 5 April, 2022

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Biofuel

GREENMARINE and Vertoro to accelerate adoption of lignin-alcohol as marine fuel

Like fossil oil, liquid lignin can be used as a platform for fuel, chemical and material applications.
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July 11, 2025

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Chuttersnap 1 1 MT

Methanol marine fuels consultancy GREENMARINE and Vertoro, a Maersk-backed Dutch start-up focused on developing liquid lignin technology which can be used as a bunker fuel, has signed an agreement to jointly accelerate the market validation and commercial roll-out of lignin-alcohol as sustainable marine fuels.

“We at GREENMARINE Group are excited to join forces with Vertoro to bring their revolutionary lignin alcohol blend fuel to market,” said Fredrik Stubner, founder and CEO of GREENMARINE Group.

“This breakthrough technology redefines sustainable maritime fuels, delivering environmental benefits and cost efficiencies, paving the way for a greener, more competitive shipping industry.”

Dr. Michael Boot Boot, co-founder & co-CEO Vertoro, replied, “GREENMARINE Group has an excellent track record as a match maker for green fuel producers with engine manufacturers and shipping companies, opening many doors for us on both the fuel validation and offtake side.”

Vertoro, founded in 2017, produces liquid lignin exclusively from sustainably sourced forestry and agricultural residues by means of a patented thermochemical process. Like fossil oil, liquid lignin can be used as a platform for fuel, chemical and material applications.

Related: Maersk invests in Dutch start-up Vertoro to develop green lignin marine fuels

 

Photo credit: CHUTTERSNAP from Unsplash
Published: 11 July 2025

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Newbuilding

Singapore: Pinnacle Marine’s first B100 fuelled utility boat starts 1,000-hour research trial

Newbuilding operated by Prestige Ocean Pte Ltd will capture data on bunker fuel emissions, marine fuel behaviour, and performance.
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July 9, 2025

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President MT

The 50th vessel constructed by local boat builder Pinnacle Marine (Singapore) Pte Ltd, namely President 100, is starting 1,000 hours of real-time research trials in collaboration with several parties from Wednesday (9 July) onwards, it says.

Powered by B100 biodiesel, the newbuilding operated by Prestige Ocean Pte Ltd will capture data on bunker fuel emissions, marine fuel behaviour, and performance.

It will be participating in trials with Maritime Energy & Sustainable Development Centre of Excellence (MESD), Weichai Singapore, China Classification Society, Pacific International Lines (PTE) Ltd, Abo Shoten, Ltd. / 株式会社安保商店 , Abo Singapore, Wilmar International, Gulf Marine, Amspec Testing & Services, and AYK Engineering and Consulting.

President MT 02

The President 100, Pinnacle Marine’s first full biodiesel utility boat, was launched on Tuesday in the presence of over 100 guests.

“Our latest vessel, President 100, merges legacy and future. Named after our first aluminium boat (“President”) and inspired by B100 biodiesel, it leads the charge for our next 50 vessels — many of which will embrace green technology,” stated Pinnacle Marine in a LinkedIn post.

“The launch was amazing, with strong turnout from across the maritime sector — authorities, shipowners, operators, agencies, chandlers, researchers, offshore engineers, and petrochemical suppliers.”

It added: “We’re excited to see how it paves the way for wider adoption of B100 biodiesel — a cleaner, sustainable path for Singapore’s harbour craft sector.”

 

Photo credit: Pinnacle Marine (Singapore) Pte Ltd
Published: 9 July 2025

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Newbuilding

BHP awards charter contracts for two ammonia dual-fuelled bulk carriers

BHP continues to work with the maritime industry to develop an ammonia bunkering plan for the two vessels when they are delivered from 2028.

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July 9, 2025

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BHP ammonia DF charters

Global resources company BHP on Wednesday (2 July) signed contracts with COSCO Shipping Bulk Co., Ltd., a subsidiary of COSCO shipping Group (COSCO Shipping) for the charter of two ammonia dual-fuelled Newcastlemax bulk carriers.

The new vessels to be built under this arrangement will be two of only a handful of vessels in the world capable of using ammonia as a bunker fuel.

The two vessels, expected to be delivered from 2028, will primarily transport iron ore from Western Australia to Northeast Asia.

When run on lower or low to zero greenhouse gas (GHG) emissions ammonia, these vessels will be capable of reducing GHG emissions by at least 50% and up to 95% on a per voyage basis compared to a conventionally fuelled voyage.

The five-year time charter contracts are expected to contribute towards a reduction in the GHG emissions intensity of BHP chartered shipping.

BHP continues to work with the maritime industry to develop an ammonia bunkering plan – the process of fuelling ships with ammonia – for the two vessels when they are delivered from 2028.

Sourcing lower and low to zero GHG emissions ammonia is subject to an ongoing tender process.

 

Photo credit: BHP
Published: 9 July 2025

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