200 views
Photo from CSIRO

Singapore, Australia launch maritime decarbonisation plan

The plan accelerates the deployment of technologies that reduce greenhouse gases.

Singapore and Australia have teamed up for an initiative that aims to accelerate decarbonisation of both countries’ maritime sectors.

The Australia-Singapore Initiative on Low Emissions Technologies (ASLET) for maritime and port operations will be implemented by CSIRO, Australia’s national science agency, and the Maritime and Port Authority of Singapore (MPA).

Singapore and Australia each pledged to allocate up to $10 million, in their respective currencies, to fund projects under the  initiative. The program anticipates attracting additional financial contributions from industry partners.

ASLET “intends to support the outcomes of the Singapore and Australia Green and Digital Shipping Corridor (GDSC), which will help decarbonise and digitise shipping routes between Singapore and Australia,” the countries said in a joint statement.

Through this programme, authorities aim to formulate new solutions, and boost the deployment and uptake of zero or near-zero greenhouse gas emission technologies. This will also look into possible cooperation between Australia and Singapore in green shipping and port infrastructure initiatives.

Furthermore, it will facilitate the research, demonstration, and commercialisation of zero and near-zero greenhouse gas emission technologies, fuels, and energy sources for use in maritime shipping and port operations, the statement read.

ALSO READ: CSA invests $10m to boost maritime biofuel in Singapore

Both countries will equally provide the investment for the project, but it is also expected to attract industry co-funding.

The first ASLET steering committee meeting will be held on 19 April at the Singapore Maritime Week. This aims to provide strategic direction, and evaluate projects on low-emission technology projects for maritime and port operations. 

The steering committee plans to issue a grant call to come up with a list of projects consistent with the focus areas.
 

Join Singapore Business Review community

Follow the link for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Top News

Access Partnership closes $16.6m raise with Mayfair and Kartesia
The firm plans to use the capital for acquisitions and to deepen its global footprint.
Saudi Arabia may set up crude oil storage in Singapore
The joint venture will commence in Jurong Island in the second half of 2027.