Singapore and Australia have signed a Memorandum of Understanding (MoU) to formally collaborate on establishing the Singapore-Australia Green and Digital Shipping Corridor (GDSC).
The signing of this MoU was welcomed by the Prime Ministers of Singapore and Australia during their 9th Annual Leaders' Meeting in Melbourne on 5 March 2024.
Signed by Mr Chee Hong Tat, Singapore's Minister for Transport and Second Minister for Finance and the Hon Catherine King, Australian Minister for Infrastructure, Transport, Regional Development and Local Government, the MoU will accelerate maritime decarbonisation and digitalisation.
Under the MoU, both countries will work with interested partners to explore opportunities to develop zero or near-zero greenhouse gas (GHG) emission fuel supply chains for the maritime industry, including building necessary infrastructure, formalising standards, and developing and implementing the training requirements.
The MoU will also explore facilitating digital information exchange to enable efficient port clearance, port calls and flow of vessels between Singapore and Australia, and facilitate collaboration between the Maritime and Port Authority of Singapore (MPA), Australian federal, state and territory governments, as well as industry stakeholders.
Australia holds great potential to be a key producer of green marine fuels, and Singapore is the world's largest bunkering and busiest transshipment hub port with a vibrant research and innovation ecosystem.
The collaboration is expected to help catalyse the development and uptake of zero or near-zero GHG emission technologies and the adoption of digital solutions to enhance the resilience, efficiency and sustainability of global maritime supply chains.
