Singapore and China to Establish Green Corridor
Singapore's Ministry of Transport and the Ministry of Transport of China have signed a Memorandum of Understanding (MoU) to establish the Singapore–China Green and Digital Shipping Corridor.The MoU elevates Singapore and China’s cooperation to the national level, building on the earlier established municipality-level and provincial-level corridors with Tianjin and Shandong, established in 2023 and 2024 respectively.Under the MoU, Singapore and China will work with industry stakeholders to advance maritime decarbonization…
Norway Sets the Bar High With Green Orders
As the shipping world prepares to descend on Oslo for Nor’ Shipping 2025, we take a look at the Norwegian fleet which is currently valued at USD 66.2 bn using VesselsValue data. The following charts highlight the Norwegian fleet breakdown by vessel type, top Norwegian companies, S&P transactions, and the breakdown of dual fuel orders by sector. Thanks to government-backed initiatives such as Enova, who offer financial support to facilitate the green transition, Norway is ahead of the game in sustainability when compared to the rest of the world.
STEESMAT Project Funded, Aims for Next-Gen Vessel Power Systems
The EU granted $8.1 million to the STEESMAT project, which aims to develop a new power distribution systems for the zero-emission ships of the future.Spearheaded by Maritime CleanTech, 13 partners will collaborate on the development of an innovative power distribution system tailored to the needs of tomorrow’s emission-free vessels. This tech is aiming to simplify the integration of modern green energy sources while optimizing the efficiency of existing solutions. “The Norwegian maritime industry is a global leader in green solutions…
Green Shipping Corridors: The Hurdles Ahead
Under current and prospective policies from the IMO, EU, and US, the business case for green shipping corridors could improve markedly - but not sufficiently - according to a new report published by UMAS, UCL, and the Global Maritime Forum (GMF). Titled ‘Building a Business Case for Green Shipping Corridors,’ the report looks at the significant commercial challenges associated with green shipping corridors, how these could change under future regulation, and what additional support…
