Singapore MPA and Shandong sign MoU for new green digital shipping corridorSingapore MPA and Shandong sign MoU for new green digital shipping corridor
Deal aims to foster sustainable and technologically advanced maritime trade between Singapore and China’s Bohai and Yellow Sea regions.
The Maritime and Port Authority of Singapore (MPA) and the Shandong Provincial Transport Department have signed an agreement to establish a new green and digital shipping corridor, aimed at fostering sustainable and technologically advanced maritime trade between Singapore and China’s Bohai and Yellow Sea regions.
The two parties signed a Memorandum of Understanding (MoU) during the 25th Singapore-Shandong Business Council meeting.
Singapore, the world’s biggest bunkering hub, and Shandong, which ports includes the busiest Qingdao Port, have said they will "leverage their collective strengths" to give sustainable maritime practices a push forward.
The Singapore-Shandong green and digital shipping corridor will reportedly build on the growing trade volumes between the regions and focus on adopting eco-friendly digital shipping solutions for ‘strengthening’ the growth of the maritime industry between Singapore and the Bohai and Yellow Sea.
The MoU sets the stage for collaboration between various stakeholders—maritime companies, port operators, shipyards, and research institutes—to promote the adoption of low-carbon technologies, facilitate port clearances through digital information sharing, share knowledge and ‘best practices’, as well as improve the handling of alternative fuels and shore power technologies.
‘Green corridor’ efforts have increased in recent years, with data from DNV showing over 50 such initiatives as of February 2024, up from 44 the year before.
As per Singapore MPA, This latest MoU marks the second green and digital shipping corridor between Singapore and China, following the Singapore-Tianjin GDSC signed in 2023.
About the Author
You May Also Like