MARCH 25: Singapore and India formalised their commitment to advancing maritime digitalisation and decarbonisation by signing a Letter of Intent (LOI). This agreement, aimed at enhancing bilateral cooperation, was signed by Mr. Teo Eng Dih, the Chief Executive of the Maritime and Port Authority of Singapore, and Shri R. Lakshmanan, Joint Secretary of the Ministry of Ports, Shipping, and Waterways (MOPSW) of India. The signing was witnessed by Dr. Amy Khor, Senior Minister of State, Ministry of Sustainability and the Environment and Ministry of Transport, Singapore, and Shri Sarbananda Sonowal, Minister of Ports, Shipping, and Waterways, India.
The key focus of the LOI is to establish a framework for collaboration on maritime digitalisation and decarbonisation projects. Both parties have committed to identifying relevant stakeholders in the maritime industry who can contribute to these efforts. They aim to formalise this cooperation further through a memorandum of understanding (MoU) that will establish the Singapore-India Green and Digital Shipping Corridor (GDSC). This corridor is envisioned to play a crucial role in advancing environmentally sustainable maritime practices and accelerating the adoption of cutting-edge digital solutions.
India, with its booming information technology sector, is well-positioned to contribute significantly to the development and export of green marine fuels. The country’s expertise in technology, coupled with its growing maritime infrastructure, makes it a vital partner in this initiative. On the other hand, Singapore, a global leader in transshipment and bunkering, has long been a hub for maritime innovation. Its dynamic research and innovation ecosystem provide an ideal environment for the collaboration envisioned in the LOI.
The establishment of the Singapore-India GDSC will focus on the development and adoption of zero or near-zero Greenhouse Gas (GHG) emission technologies, which are crucial for mitigating the environmental impact of global shipping. Additionally, it aims to promote the uptake of digital solutions that enhance the efficiency, safety, and sustainability of maritime operations.
Both nations view this partnership as a significant step forward in shaping a sustainable maritime future. By combining India’s technological expertise and potential as a producer of green marine fuels with Singapore’s position as a key global maritime hub, the two countries aim to lead the way in maritime decarbonisation and digitalisation. This collaboration is expected to create new opportunities for businesses, enhance the sustainability of the maritime industry, and help address the global challenges of climate change.
