28 July 2023

On 5 July 2023, the Maritime and Port Authority of Singapore (“MPA”) and Lloyd’s Register Maritime Decarbonisation Hub issued a joint press release announcing that they have signed a Memorandum of Understanding (“MOU”) to enable collaboration on a fleet-specific decarbonisation strategy and the development of an implementation plan for The Silk Alliance cross-industry initiative. The latter seeks to enable zero-emission shipping across the Indian and Pacific Oceans.

Launched in May 2022, The Silk Alliance is a green corridor cluster in Asia, named after the historic Silk Road, linking South-east Asia to China, the Indian subcontinent and the Arabian Peninsula. It brings together an integral group of organisations from both the private and public sector across the entire value chain of shipping.

MPA’s participation in The Silk Alliance will foster deeper public-private sector collaboration to unlock key investments across the Indian and Pacific Oceans region as the green corridor cluster moves into an implementation phase. The collaboration includes driving investments into scalable fuel supply infrastructure to meet the demand aggregation signal of members of The Silk Alliance and potential wider regional bunkering demands for alternative fuels.

Reference materials

The press release is available on the Ministry of Transport website www.mot.gov.sg.