The Maritime and Port Authority (MPA) of Singapore has announced the establishment of the Global Centre for Maritime Decarbonisation (GCMD). The GCMD received funding of SGD120 million from their six founding partners and the Government of Singapore. The six founding partners include Sembcorp Marine Limited,  Ocean Network Express Limited, Eastern Pacific Shipping Private Limited, BW Group, BHP and Foundation Det Norske Veritas.

The centre’s objective will be to spearhead the energy transition of the maritime industry and the promotion of cleaner fuels. Formation of GCMD was initially proposed during April 2021 at the Singapore Maritime Week.