MPA Singapore, partners to assign $90 million for maritime decarbonization center April 21, 2021, by Jasmina Ovcina
The Maritime and Port Authority of Singapore (MPA) has signed a memorandum of cooperation (MoC) with industry heavyweights to establish a fund for a maritime decarbonization center in Singapore.
The deal was signed with BW Group, Sembcorp Marine, Eastern Pacific Shipping, Ocean Network Express, Foundation Det Norske Veritas, and BHP.
Signing of the MoC; Image credit: MPA Singapore
Under the MoC, each private sector partner will contribute S$10 million to support the establishment of the centre, while MPA will add S$60 million, bringing the fund to a total of S$120 million ($90.3 million).
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SINGAPORE, April 21 (Reuters) – The Maritime and Port Authority of Singapore (MPA) announced two initiatives on Wednesday to reduce the shipping industry’s greenhouse gas emissions, including a S$120 million ($90 million) fund for a decarbonisation centre.
“Maritime decarbonisation is a global challenge requiring a collective responsibility from all stakeholders involved,” MPA Chief Executive Quah Ley Hoon said in a statement.
With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world’s carbon dioxide emissions.
The industry is examining a range of technologies as it tries to meet the International Maritime Organization target of a 50% cut in greenhouse gas emissions from 2008 levels by 2050.
Foundation Det Norske Veritas contributes S$10 million to help launch a maritime decarbonization centre in Singapore
Foundation Det Norske Veritas – which owns DNV Group – has teamed up with the Maritime and Port Authority of Singapore (MPA) and five other industry leaders to establish a maritime decarbonization centre in Singapore.
The centre’s stated mission is to catalyse and facilitate decarbonization in the maritime sector and will be supported by contributions from the founding members totalling S$120 million. Its creation follows the release of a recommendation by the International Advisory Panel (IAP) – a Singapore Maritime Foundation initiative – on maritime decarbonization to set up a decarbonization centre in Singapore.
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The Nigerian Shippers’ Council (NSC)
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Tue Apr 20 2021
The Nigerian Shippers’ Council (NSC) says it hopes to achieve 80 per cent automation of the entire seaport processes on or before the end of the first half of the year.
The nation’s seaport economic regulator also vowed to sanction terminal operators who fail to digitize all their operations before the end of 2021.
The Executive Secretary of the council, Barr. Hassan Bello, dropped these hints at an interaction session with maritime correspondents in Lagos.
Bello, who said the council recovered $14,000 bribery proceeds from officials saddled with the responsibility of boarding and inspection of ships whenever they arrive at the Nigerian seaports, noted that “human interface and poor automation accounts for the slow turnaround of cargo in the country.”