Singapore and India have taken a significant step towards enhancing maritime innovation by signing a Letter of Intent (LOI) to cooperate on digitalisation and decarbonisation within the sector. The agreement was signed by Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore, and R. Lakshmanan, Joint Secretary of India’s Ministry of Ports, Shipping and Waterways, with senior officials from both countries witnessing the event.
The LOI outlines plans for both nations to collaborate on projects that focus on maritime digitalisation and decarbonisation. This includes identifying key stakeholders who can contribute to these efforts and working towards formalising their partnership through a memorandum of understanding on a Singapore-India Green and Digital Shipping Corridor (GDSC).
India, known for its prowess in information technology, has the potential to become a major producer and exporter of green marine fuels. Meanwhile, Singapore, a key transshipment and bunkering hub, boasts a dynamic research and innovation ecosystem. The proposed GDSC aims to leverage these strengths, enhancing collaboration between the two countries and accelerating the development and adoption of zero or near-zero greenhouse gas emission technologies and digital solutions.
The establishment of the Singapore-India GDSC is expected to significantly contribute to the maritime sector’s sustainability and efficiency, aligning with global efforts to reduce carbon emissions and embrace digital transformation.
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