MPA Inks Collaborations with Partners to Advance Decarbonisation Efforts in Maritime Industry
A S$120 million fund for a maritime decarbonisation centre in Singapore
The Maritime and Port Authority of Singapore (MPA) will join hands with industry partners under two separate agreements signed today to advance decarbonisation efforts in the maritime industry. Mr Chee Hong Tat, Senior Minister of State for Foreign Affairs and Transport, witnessed the signing of the two agreements.
Memorandum of Cooperation with Partners on Maritime Decarbonisation Centre in Singapore
MPA signs a memorandum of cooperation (MoC) with BW Group, Sembcorp Marine, Eastern Pacific Shipping, Ocean Network Express, Foundation Det Norske Veritas and BHP to establish a fund for a maritime decarbonisation centre to be set up in Singapore. This follows the release of a recommendation by the International Advisory Panel1 on Maritime Decarbonisation (IAP) to set up a maritime decarbonisation centre in Singapore.
Singapore launches $90m fund for decarbonisation of maritime industry 22 Apr 2021 (Last Updated April 22nd, 2021 12:51)
The Maritime and Port Authority of Singapore (MPA) has signed two agreements to advance decarbonisation efforts in the maritime industry, one of which includes the launch of a $90m (S$120m) fund for this purpose.
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MPA and six strategic partners signed a Memorandum of Cooperation to establish a S$120 million fund. Credit: MPA.
The Maritime and Port Authority of Singapore (MPA) has signed two agreements to advance decarbonisation efforts in the maritime industry, one of which includes the launch of a $90m (S$120m) fund for this purpose.
BHP joins the Maritime Decarbonisation Centre in Singapore naturalgasworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasworld.com Daily Mail and Mail on Sunday newspapers.
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BHP becomes a founding member of Maritime Decarbonisation Centre in Singapore
BHP has signed a Memorandum of Cooperation (MoC) with Singapore’s Maritime and Port Authority (MPA) to become one of the founding members of the Maritime Decarbonisation Centre to be set up in Singapore.
Under the MoC, BHP together with BW Group, Eastern Pacific Shipping, Ocean Network Express, Sembcorp Marine Ltd and The Foundation Det Norske Veritas have pledged to contribute S$10 million each to support the establishment of the centre and fund research and technology development projects in areas relating to decarbonisation in the maritime industry. MPA will add S$60 million R&D funding to these contributions, bringing the fund to a total of S$120 million.
Chee Hong Tat, Singapore Senior Minister of State for Foreign Affairs and Finance Six major shipowners and industry players are backing a new SGD120m ($90m) Maritime Decarbonisation Centre in Singapore.
BW Group, Eastern Pacific Shipping (EPS), Ocean Network Express (ONE), Foundation Det Norske Veritas, BHP and Sembcorp Marine signed a Memorandum of Cooperation (MoC) with the Maritime & Port Authority of Singapore (MPA) on Wednesday morning to establish a fund to set up the decarbonisation centre.
Each partner private sector partner will contribute SGD10m to the fund to support the setting up of the centre and research projects with the MPA adding SGD60m to bring total initial funding to SGD120m.