The Government of Singapore has announced a budget of SGD300 million to offset emissions for the maritime industry over the next 10 years. The government will use the funding to promote green shipping as well as invest in programmes under a new blueprint, which targets achieving net zero emissions at all port terminals in Singapore by 2050.
The funds will also be used to increase the use of alternative fuels including biofuels, methanol, ammonia and hydrogen. The government will also transition all domestic harbour crafts to low-carbon energy by 2030 and net zero fuels or fully-electricity by 2050.
For vessels registered under the Singapore Registry of Ships (SRS), owners will be provided with incentives to convert their ships into greener vessels with the aim of transitioning 50 per cent of the ships under SRS to green ships by 2050.
More medium-term objectives have been established by the Government of Singapore, including a 60 per cent reduction in total emissions at port terminals by 2030 compared to 2005 levels, and a 15 per cent reduction in absolute emissions for domestic harbour boats by 2030 compared to 2021 levels.
Additionally, 5G coverage will also be extended to Singapore’s ports. This will allow goods and supplies to be delivered from the coastlines to ships parked in anchorages using drones, the use of which are currently undergoing commercial trials.
