International Advisory Panel on Maritime Decarbonisation Unveils Nine Pathways to Support Decarbonisation in the Maritime Industry

04 April 2021

1. The International Advisory Panel on Maritime Decarbonisation (IAP) formed in July 2020 by the Singapore Maritime Foundation (SMF), with the support of the Maritime and Port Authority of Singapore (MPA), has submitted its recommendations to the Singapore Government. The IAP has identified nine pathways to maritime decarbonisation, including policy options to accelerate the transition and ways in which Maritime Singapore can support the industry’s decarbonisation. 

2. The IAP is co-chaired by Mr Andreas Sohmen-Pao, Chairman of the Singapore Maritime Foundation, together with Mr Wong Weng Sun, Chairman of the Board and Governing Council of the Singapore Maritime Institute. It comprises 28 other leaders from maritime and related organisations, including shipping associations, shipping companies, port operators, energy companies, engine makers, shipyards, insurance and finance players, as well as academia.

IAP RECOMMENDATIONS

3. The IAP’s vision is for Maritime Singapore to support decarbonisation of the industry to meet or exceed the International Maritime Organization’s (IMO) goals for 2030 and 2050 by:

  • shaping Greenhouse Gas (GHG) measures to ensure that actions have a real and
    lasting positive impact;
  • setting standards for operational, technical and safety factors;
  • piloting innovations in the technical, operational and digital sphere;
  • building selective infrastructure to support these innovations;
  • deploying incentives at national, regional or global level, combined with private capital
    initiatives, to implement solutions for vessel efficiency and new fuels; and
  • connecting global stakeholders to share knowledge and implement actions.

4. To achieve this vision, the IAP has recommended focusing on four strategic objectives: (1) harmonise standards; (2) implement new solutions; (3) finance projects; and (4) collaborate with partners. Supporting these objectives are nine pathways to decarbonisation, as shown in Table 1.

5. Recognising the importance of taking action and collaborating for change, the IAP has further identified joint projects to embark on. These projects include conducting fuel and electrification trials for vessels and setting up a decarbonisation centre in Singapore. See Annex 1 for the link to the full report, and a summary of the proposed action plans and Annex 2 for joint projects which the IAP has identified.

Table 1: The IAP recommends four strategic objectives and nine pathways to decarbonisation

HARMONISE StandardsIMPLEMENT New SolutionsFINANCE Projects
1. Shape common metrics for carbon accounting
2. Set standards for new technologies and solutions
3. Pilot trials and deploy solutions
4. Build flexible ship capabilities and relevant infrastructure
5. Develop green financing mechanisms
6. Develop mechanisms that could support carbon pricing
Act as custodian for and deploy R&D funds and grants
COLLABORATE with Partners
8. Multiply local, regional and global collaboration across stakeholders
9. Set up a decarbonisation centre

6. In his opening address, Mr Sohmen-Pao said that the strategies represent the IAP’s collective vision for how Singapore can contribute to the global effort to reduce GHG emissions from international shipping. He noted that decarbonisation of the industry would require multiple paths of action, and the collective effort of public and private stakeholders.

7. IAP co-chair Mr Wong added that the release of the IAP’s recommendations was a milestone in the journey towards maritime decarbonisation. It would be important to keep up the momentum and bring about concrete action through the joint projects identified in the report. He welcomed additional proposals for collaboration from interested stakeholders.

8. Senior Minister of State for Ministry of Foreign Affairs and Ministry of Transport, Mr Chee Hong Tat said, “We thank the IAP for the significant effort and thought which went into producing the report. We will consider their recommendations when developing the Maritime Singapore Decarbonisation Blueprint 2050. The fight against climate change is a global ambition and a collective responsibility. Singapore is committed to do our part to support the IMO and the international maritime community in climate action.”

You may access the full report here.

 

About Singapore Maritime Week

The Singapore Maritime Week (SMW) is an annual gathering of the international maritime community to advance key maritime issues and exchange ideas to bring the maritime sector forward. Driven by the Maritime and Port Authority of Singapore, in collaboration with industry stakeholders, research and educational institutions, the SMW brings together key opinion leaders and industry leaders through conferences, dialogues and forums.

For more information and the full calendar of events, please visit www.smw.sg

About the Maritime and Port Authority of Singapore (MPA)

The Maritime and Port Authority of Singapore (MPA) was established on 2 February 1996, with the mission to develop Singapore as a premier global hub port and international maritime centre (IMC), and to advance and safeguard Singapore’s strategic maritime interests. MPA is the driving force behind Singapore’s port and maritime development, taking on the roles of Port Authority, Port Regulator, Port Planner, IMC Champion, and National Maritime Representative. MPA partners the industry and other agencies to enhance safety, security and environmental protection in our port waters, facilitate port operations and growth, expand the cluster of maritime ancillary services, and promote maritime R&D and manpower development.

About the Singapore Maritime Foundation (SMF)

Established in 2004, the Singapore Maritime Foundation (SMF) is a private sector-led organization that aims to develop and promote Singapore as an International Maritime Centre (IMC). As the representative voice for the commercial players of the maritime industry, the Foundation seeks to forge strong partnerships with the public and private sectors of the maritime industry. SMF spearheads initiatives to promote the diverse clusters of the maritime industry in Singapore and at international frontiers, and to attract young talent to join the sector. SMF is directed by its Board of Directors which comprises prominent leaders in the Singapore maritime community. For details, visit https://www.smf.com.sg/.

Media Contacts

Maritime and Port Authority of Singapore
Fouziah Rahim (Ms)
Assistant Director, Content & Marketing Department
Fouziah_RAHIM@mpa.gov.sg
(65) 6375-1852; 9787 6937
Singapore Maritime Foundation
Elizabeth Koh (Ms)
Senior Executive, Corporate Communications & Development Department
elizabethkoh@sgmf.com.sg
(65) 6235-0228

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Mr. Lars Kastrup

CO-PRESIDENT & EXECUTIVE DIRECTOR, PACIFIC INTERNATIONAL LINES

Mr. Lars Kastrup is the Co-President and Executive Director of Pacific International Lines (Pte) Ltd (PIL).
Prior to joining PIL, Mr. Kastrup was CEO of NOL/APL, and subsequently assumed the role of Executive Vice President, Strategy and M&A at CMA CGM Group. A veteran in the global shipping industry with over 30 years of experience, Mr Kastrup’s other roles include Executive Vice President of Assets at CMA CGM Group heading up CMA Terminals, CMA Ships, Container Logistics as well as regional carriers such as MacAndrews, OPDR and Mercosul; as well as Vice President at AP Moller-Maersk.
Mr. Kastrup complemented his tertiary education with leadership and management training at Penn State University and The Wharton School at the University of Pennsylvania.

Ms. Angeline Teo

MANAGING DIRECTOR & HEAD, GLOBAL TRANSPORTATION & OFFSHORE, OCBC BANK

Ms. Angeline Teo is the Managing Director and Head of Global Transportation and Offshore, Global Corporate Banking at OCBC Bank which focuses on the maritime, aviation, land & port ecosystems.
Ms. Teo has spent over three decades in maritime finance. Prior to OCBC, Ms. Teo was working at ING Bank, ABN Amro and DnB in Singapore focusing on maritime and offshore.
Ms. Teo graduated from the National University of Singapore with a degree in Business Administration.

Mr. John Martin

CHIEF EXECUTIVE OFFICER, GARD SINGAPORE

Mr. John Martin began his career in London in 1989 with Richards Hogg Lindley Average Adjusters, and qualified as a Fellow of the UK Association of Average Adjusters in 2000.
At RHL he worked in their offices in Australia, Taiwan and Hong Kong. In 2003 he joined Gard Hong Kong, as a claims handler. Mr. Martin also worked in Gard Japan, and in 2014 he moved to Singapore to set up the Gard Singapore office.
Besides running Gard Singapore, Mr. Martin also heads the P&I and H&M claims units and is the Senior Claims Representative for Gard in Asia.

Mr. Cyril Ducau

CHIEF EXECUTIVE OFFICER, EASTERN PACIFIC SHIPPING

Mr. Cyril Ducau is the Chief Executive Officer of Eastern Pacific Shipping Pte Ltd, a leading shipping company headquartered in Singapore for the past 30 years.

He is also currently the Chairman of Kenon Holdings Ltd and a member of the board of directors of Gard P&I (Bermuda) Ltd. and of the Global Centre for Maritime Decarbonisation Limited, which was established by the Maritime and Port Authority of Singapore. He was previously Head of Business Development of Quantum Pacific Advisory Limited in London from 2008 to 2012 and acted as Director and Chairman of Pacific Drilling SA between 2011 and 2018.
Prior to joining Quantum Pacific Advisory Limited, Mr. Ducau was Vice President in the Investment Banking Division of Morgan Stanley & Co. International Ltd. in London between 2000 and 2008.
Mr. Ducau graduated from ESCP Europe Business School (Paris, Oxford, Berlin) and holds a Master of Science in business administration and a Diplom Kaufmann.