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ISSUE 47
ISSUE 47 PAGE 35
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COMMUNITY T ALK
COMMUNITY TALK

2050 LOOKS FAR AWAY,

BUT IF WE WERE TO WORK

MODERATOR: TO KICK OFF THE DISCUSSION, I BACKWARDS, WE ACTUALLY
WOULD LIKE TO ASK EACH OF THE PANELLISTS TO
SHARE THEIR VIEWS ON THE DECARBONISATION OF NEED COMMERCIALLY VIABLE
INTERNATIONAL SHIPPING.
MR ANDREAS SOHMEN-PAO (ASP): It’s necessary, SOLUTIONS ALONG THE
in order to mitigate climate change. It’s clear, in
terms of our industry goals for 2030 and 2050. It’s WHOLE VALUE CHAIN WITHIN
possible, in part because we have a global regulator
in the International Maritime Organization (IMO). THE NEXT FEW YEARS.
And it’s exciting because there are a lot of initiatives
already under way. MS QUAH LEY HOON
Clearly, low-carbon fuels will be critical in order CHIEF EXECUTIVE
to really move the needle on carbon reduction. MARITIME AND PORT AUTHORITY OF SINGAPORE
But new fuels will take time in order to make them
available and aff ordable.
So we need to be realistic about timelines — against each other, we can build on each other’s
we need substantial investment, global regulation to experiences. Through webinars such as this, and
help close gaps, and collaboration amongst players. the NextGEN initiative that Singapore is working on
I’m encouraged to see how much collaboration with the IMO, we hope to share our experiences and
there is. Maybe more is needed on funding and trigger a core solution soon.
global regulation. Secondly, there are a lot of projects that we need
MR WONG WENG SUN (WWS): Shipping is the to really kick-start and learn from each other
backbone of the global economy. We need to take across the whole value chain. To get these projects
faster action to meet the global climate-change going, funding is important. We have the Maritime
target. Having well-coordinated, manageable, GreenFuture Fund in Singapore, and I think companies
and practical solutions that could accelerate have also put aside funds for R&D. What we need are
decarbonisation could be an opportunity for us to more like-minded partners to come on board.
transform the shipping industry. In the process, The third key area is standards and policies. As a
we are looking at what the end point will be — to global hub port, we must be ready for future ships

have a carbon-efficient or zero-carbon fuel. To that will be coming on board. We need a network
make this happen, and speed up the timeline, it of bunkering nodes among the ports that include
requires collaboration with key stakeholders within harmonisation and implementation of standards.
the industry, and even across the broader shipping Working backwards, if we want to receive a ship
ecosystem and across the energy supply chain. running on alternative fuels by 2030, this would
MS QUAH LEY HOON (QLH): 2050 looks far away, but if mean that we actually have to start work now on
we work backwards, we actually need commercially what the bunkering standards are. We need to start
viable solutions along the whole value chain within the conversation with like-minded port authorities
the next few years. There are already some good to build on whatever we have done in terms of
initiatives underway, so my view is that we need to experience in LNG to start working on potential
do more in these three key areas: bunkering fuel types, such as ammonia, hydrogen,
Firstly, we need all these initiatives to snowball. and bio-LNG. Time is running out — we need to act
Rather than having individual initiatives competing really fast.