A S$120 million fund for a maritime decarbonization center in Singapore
SINGAPORE : Ocean Network Express Pte Ltd. (ONE) is pleased to announce the
participation to the initiatives with industry partners to advance decarbonization efforts in the
ONE together with BW Group, Sembcorp Marine, Eastern Pacific Shipping, Foundation Det Norske
Veritas and BHP signed a memorandum of cooperation (MoC) with the Maritime and Port Authority
of Singapore (MPA) to establish a fund for a maritime decarbonization center to be set up in
Singapore. This follows the release of a recommendation by the International Advisory Panel1 on
Maritime Decarbonization (IAP) to set up a maritime decarbonization center in Singapore.
Under the MoC, each private sector partner will contribute S$10 million to support the establishment
of the center, fund maritime-decarbonization-related research and technology development projects
and collaborate with institutes of higher learning and research institutes.
Mr. Jeremy Nixon, CEO, Ocean Network Express
“This is a further significant step forward by ONE, in alignment with its new green strategy direction.
ONE is committed to accelerating maritime decarbonization collaboration at both governmental and
private sector industry level.”
Source : ONE