1.        Today we are here to celebrate two milestones: (i) Marina South Pier’s 20th Anniversary, and (ii) the completion of its solarisation project.

History of MSP

2.        MSP’s roots go back 170 years, to 1856, when Johnston's Pier was built as a gateway for goods and passengers, Johnston’s Pier was at Collyer Quay. From that modest structure of iron and wood, royalty, world leaders and travellers first stepped into Singapore. Its iconic red warning lamp for ships approaching the pier gave rise to popular names Lampu Merah in Malay and Ang Teng in Hokkien – both meaning “red lamp”.

3.        As Singapore’s maritime traffic grew, Johnston’s Pier could no longer keep up. Clifford Pier was then built nearby and opened in 1933. It became a vital hub for trade and passenger travel in an era before air travel transformed how we cross the seas. The red lamps moved with it, carrying forward not just a practical function, but also a familiar symbol of welcome.

4.        In 2004, the Singapore Government announced that Marina South Pier would take over Clifford Pier as the landing point. A new chapter began, and MSP was officially opened in June 2006. Twenty years on, it remains a key gateway to our Southern Islands and anchorages. I want to sincerely thank all our pioneers, tenants and partners who have kept MSP thriving through these two decades.

Three Exciting Developments

5.        Today, I am pleased to share three exciting developments that will shape MSP's next chapter.

6.        First, sustainability. Singapore has raised its climate ambition to achieve net-zero emissions by 2050. Under the GreenGov.SG initiative, the public sector aims to get there around 2045, five years ahead. MPA is doing our part.

7.        MSP is our first facility to spearhead renewable energy generation, using high-efficiency solar Photovoltaic (PV) panels across the building's roof, glass canopies, and jetty linkway shelters. They are expected to generate as much electricity each year to power about 180 four-room HDB flats – enough to fully meet the electricity needs of MSP’s daily operations and common facilities.

8.        Second, on the infrastructure front, we will be conducting levelling works for the surface carpark and pick-up and drop-off area. To minimise inconvenience to visitors, an interim carpark opposite MSP will be built, and is expected to be ready by mid-2029. A new power substation will also be developed nearby to support the deployment of electric harbour craft chargers.

9.        We are also working with the Immigration & Checkpoints Authority to enhance our sea checkpoints. The immigration hall at MSP will be reconfigured to support ICA’s Automated Border Control System (ABCS), which lets all travellers clear immigration through automated lanes without prior enrolment. Renovation works are expected to begin in the second quarter of 2027, and we will work closely with all stakeholders to minimise disruptions.

10.        Third, we are exploring e-ticketing for ferry services to the Southern Islands. Long queues for physical tickets can be frustrating, and we want to make the boarding experience more seamless. We will engage pier tenants, run pilot tests, and work towards a paperless boarding experience. We look forward to your support as we take this initiative forward.

Broader Solarisation Plans

11.        Beyond MSP, we are also solarising Pulau Satumu, home to Raffles Lighthouse, Singapore's second oldest. While the lighthouse itself has been powered by solar energy since 1998, the other facilities still rely on diesel generators, consuming more than 90 tonnes of diesel a year.

12.        This will be replaced by a 600 kilowatt-peak (kWp) ground-mounted solar PV system, backed by a 5 megawatt-hour (MWh) Battery Energy Storage System and a centralised Power Management System. By end-2027, Pulau Satumu will be fully energy self-sufficient, powered entirely by renewable electricity and no longer requiring diesel deliveries by bunker barge.

Issuance of New LNG Licences

13.        As we make MPA’s facilities greener, we are also supporting the maritime sector’s transition towards a resilient multi-fuel future. From 1 September 2026, MPA will issue eight new licences to supply liquefied natural gas, or LNG, as a marine fuel in the Port of Singapore. The three existing LNG licenses will expire by the end of the year. 

14.        These new licences will expand our LNG bunkering capacity and strengthen our ability to supply low carbon fuels from Singapore, such as liquefied bio-methane and e-methane.
  
Conclusion

15.        In closing, everything I have announced today points to one goal: a maritime Singapore that is committed to sustainability and resilience, and to providing greater convenience to our users and travellers. To get there, we will need to partner our industry and stakeholders to align infrastructure, regulations, capabilities and investment decisions. Together, we can accelerate the global maritime energy transition and contribute to a greener future.

16.        Thank you once again for being part of MSP's journey over the last 20 years. I look forward to what comes next. 

Heads of Delegations, Distinguished Guests,

1    Good morning. 

2    On behalf of the Maritime and Port Authority of Singapore, or MPA, I welcome you to Singapore for the 45th ASEAN Ports Association Working Committee Meeting. 

3    It has been eight years since Singapore last hosted an APA meeting. We are glad to have ASEAN's port community back with us once again.

4    For centuries, Singapore has been a meeting point for traders, cultures and ideas, connecting our region to the rest of the world. And today, we continue to be a thriving port. 
 
5    Our maritime journey has always been underpinned by one enduring principle. Our success depends not only on our geography, but on our openness, connectivity and, above all, our partnerships.

6    That same spirit continues to guide us today. No port succeeds in isolation. Every vessel that calls at our ports, every shipment that crosses our seas – they move because governments, ports and industry partners choose to work together.

Significance of ASEAN

7    Today, that spirit of partnership is more important than ever.

8    We meet at a time of geopolitical strain. Conflicts in different parts of the world, and repeated supply chain disruptions, have shown us how interconnected our economies are. 

9     We have seen how disruptions to vital shipping routes can have consequences far beyond the waters in which they occur in. These developments remind us that safety and security in maritime transport do not stop at our own waters. They are regional, and indeed global, concerns.
 
10    ASEAN feels this keenly. Ours is among the world's most trade-dependent regions, connected by the seas that have long served as our economic lifeline. 

11    Our seas carry the food, the fuel and the goods our people depend on, and the millions of jobs that come with them. 

12    The resilience of our maritime sector is therefore inseparable from the resilience of our region and its people.

Significance of APA

13    Our ports sit at the heart of this. They are more than gateways for trade. They are the arteries that carry our economies, businesses, and communities.

14    That is why the APA platform matters. For more than five decades, it has brought members together to share experience, exchange knowledge and build technical cooperation. This has helped members address common challenges and advance our collective interests.

15    At a time when many countries around the world are turning inward, the APA’s enduring tradition of fostering friendship and extending support – a tradition rooted in the APA Sports Festival – is no longer just good practice. It is a model of collaboration worth upholding and celebrating.   

16    I am very heartened to see the strong participation this morning. 

Review of APA’s Goals and Strategies

17    As many would know, our industry is also entering a new era of transformation. 

18    Digitalisation, artificial intelligence and automation are changing how ports operate.  At the same time, we must support the shift to cleaner shipping, without losing a step on safety and reliability. 

19    None of this will be easy. It will call for new skills and new ways of working. But it also gives ASEAN ports a great deal to learn from each other.  

20    Take digitalisation as an example. Better data exchange between our ports means fewer delays, better use of resources, and a region that is easier to ship through.  

21    Another example is green shipping. ASEAN is well placed to supply and support the marine fuels of the future. By sharing what works, and what does not, we can take a greater part in these new value chains.

22    Singapore takes over the ASEAN Chairmanship next year, and with it, the Maritime Transport Working Group. We will focus on these key areas: (a) strengthening digitalisation to ensure better flow of data between our ports and (b) advancing green shipping, so we can share experience and do well together. That is the ASEAN Spirit – each member takes its turn at the helm, and we look forward to doing our part. 

23    It is in this context that the APA’s review of its Goals and Strategies is timely. It is a chance to reaffirm what this Association is for, and to update its strategic priorities to match what members need today in this changing world. 

Potential Collaboration with other Port Associations

24    I am also pleased that other port associations have expressed interest in working with the APA. This reflects growing recognition of the APA's contributions and its important role in bringing ASEAN ports together. Let us find a good way to work with these other port associations.

Conclusion

25    Let me close with a line from 1967. At the founding of ASEAN in Bangkok in 1967, Singapore’s first Foreign Minister, Mr. S Rajaratnam, described what the five founding members were doing as coming together to “pool their collective resources and their collective wisdom”. The context back then was very different, but the idea holds true today, and is indeed very relevant in the current environment. 

26    Each of our ports come together with different strengths, different constraints, and different experiences. Taken together, they add up to something none of us could build alone – safer regional waters, smoother trade, and a more resilient maritime future for all our people. 

27    With that, I wish you all productive discussions and a successful 45th APA Working Committee Meeting. Thank you.

Introduction
1    Good morning. Thank you for joining us at the Maritime AI Forum: The Next Wave. My appreciation to the Singapore Shipping Association (SSA) for partnering MPA in this forum.

2    The strong turnout today reflects the growing interest in how AI can transform the way we operate, compete, and grow in an increasingly complex environment.

The AI Imperative in Maritime
3    The maritime industry is sometimes seen as cautious in adopting new technology. But AI is no longer a technology of tomorrow. It is already reshaping how companies operate and how people work. Many have aptly described this as the “Intelligence Age”. 

4    The key question is: How can our industry seize the opportunities in this “Intelligence Age”? 
•    At its core, AI enables companies to operate more efficiently and empowers our people to work smarter. It automates routine tasks, analyses complex information and proactively identifies issues. 
•    This will not only transform how work is done, but also redefine jobs and skills. Existing roles will evolve, and new roles will emerge, requiring workers to adapt and learn to use new tools.

5    It is important for us to recognise that AI will only be a disruptor for the unprepared. We should not use its disruptive nature as an excuse to not keep up. If we cannot keep up, it is because we were not prepared. 

6    At the same time, this disruption also brings opportunities. Companies and employees are under constant pressure to raise productivity, improve safety, and meet sustainability goals – all while staying competitive.

7    For Maritime Singapore, the stakes are even higher. We face tight manpower constraints, limited land and sea space, growing operational complexity, and increasing global competition. AI is not a silver bullet. But it offers new ways to overcome some of these challenges. For example, 
•    AI can detect equipment failures early, allowing engineers to reduce vessel downtime. 
•    AI and robotics can automate laborious port operations and potentially even solve problems such as coning and de-coning of twistlocks – issues our industry has been facing for many years. 
•    AI assistants can also help ship managers with intelligent decision support and enhance regulatory compliance by leveraging diverse data sources. 

8    To harness AI effectively, companies must build their capabilities and invest in workforce training. A human-centric transformation is essential, with active engagement to ensure workers are equipped to thrive in this new landscape. 

9    By growing AI capabilities across Maritime Singapore, we can unlock new opportunities, attract investments, and equip our workforce with future-ready skills. 

Singapore’s Maritime AI Vision
10    This brings me to Singapore’s vision for Maritime AI. 

11    We aspire to be a leading global hub for maritime innovation and technology. A place where companies can collaborate, develop, test and deploy AI responsibly. And where businesses of all sizes can benefit from these advancements.

12    Our vision is aligned with Singapore’s broader national directive. At this year’s Budget Debate, PM Lawrence Wong announced that he would personally chair the National Artificial Intelligence Council (NAIC) to drive AI missions in key sectors and help unlock Singapore’s competitive advantage. 
13    We have identified four sectors for the NAIC to focus on: (i) Advanced Manufacturing; (ii) Finance; (iii) Healthcare; and (iv) Connectivity and Logistics, which is deeply integrated with the maritime sector. 

14    In line with this direction and the National AI Strategy 2.0, MPA has developed a Maritime AI Capability Development Plan. This plan maps out pathways for AI adoption, with the aim of uplifting productivity, overcoming constraints, creating new business opportunities, and attracting jobs and investments to Singapore.

Today’s Forum Objectives
15    Today’s Forum is about translating this vision into action. 

16    We will hear from the speakers about different aspects of AI capability development. These include upskilling our people, identifying use cases, and driving AI innovation and governance within organisations.

17    We are heartened that many maritime companies are already playing their part in building Maritime Singapore’s AI capabilities. One example is Kuok Maritime Group. They have developed AI assistants for its maritime subsidiaries, helping their employees to make better decisions and improve productivity. This is one of many such efforts across the industry. 

Partnership & Collaboration
18    While these early efforts are encouraging, successful AI adoption will require stronger partnerships. At this year's Singapore Maritime Week, MPA and SSA signed a Memorandum of Understanding to jointly advance the adoption of AI and innovation across Maritime Singapore.

Call to Action
19    I am glad we are having this forum today on how the maritime industry can benefit from this next wave of AI. I encourage everyone to make full use of today’s programme and speak to the training and service providers to explore potential pathways.

20    AI may bring uncertainty, but it also presents immense opportunities. Companies must be ready to change. Employees must be ready to learn. 

21    By combining AI with our maritime domain expertise, we can harness this next wave to transform the industry and ensure Maritime Singapore remains competitive and future ready.

22    Thank you. 

We refer to your articles After U.S.-Iran War, Oman Said to Propose Hormuz Fee Plan published in The New York Times (30 June) and US ally proposes teaming up with Iran to charge Strait of Hormuz toll — despite strong opposition published in New York Post (30 June) on proposals relating to transit through the Strait of Hormuz, which made reference to the Straits of Malacca and Singapore (SOMS) as a point of comparison.

While we note that the references were attributed to statements made by various officials, they were not entirely accurate, and there is opportunity to give your readers a clearer understanding of the legal framework governing Straits Used for International Navigation (SUINs). We therefore wish to clarify and provide additional context for your consideration. To facilitate an update, we have highlighted below the key factual points that we hope may be reflected in the relevant portions of the article:

"Under the United Nations Convention on the Law of the Sea (UNCLOS) and customary international law, the right of transit passage through SUINs is a right enjoyed by all ships and cannot be impeded. Like the Strait of Hormuz, the Straits of Malacca and Singapore (SOMS) is a SUIN. Accordingly, the three littoral States of Indonesia, Malaysia and Singapore do not impose fees, tolls, or any form of payment on ships exercising their right of transit passage through the SOMS.

It is also helpful if the references to the Cooperative Mechanism and the Aids to Navigation Fund (ANF) could also be described along the following lines:

"The Cooperative Mechanism, established by the three littoral States, supports navigational safety and environmental protection in the SOMS. Its Aids to Navigation Fund is supported through voluntary financial contributions from non-profit organisations such as The Nippon Foundation and the International Foundation for Aids to Navigation, as well as industry stakeholders and States with an interest in the safe and efficient use of the Straits.", and that

"The Aids to Navigation Fund is administered by a committee comprising representatives from the three littoral States and the contributors. These voluntary financial contributions are used to support the provision and maintenance of critical navigational aids in the SOMS. Importantly, they are entirely separate from the exercise of transit passage and should not be misconstrued as fees, tolls or payment imposed on transiting ships".

Given the importance of ensuring that readers receive an accurate account of the legal regime governing the SOMS, we would appreciate it if you could update the relevant portions of the article to reflect these facts.

1.    Good afternoon. Today, we join the International Hydrographic Organization (IHO) and its member States around the world to celebrate the World Hydrography Day, observed annually on June 21 since 2006. For twenty years, this day has reminded us of the vital role that hydrography plays in ensuring safe navigation, protecting our marine environment, and supporting the blue economy that so many of us depend on.

2.    Hydrography holds a special place in my heart. My first posting as a young officer in the Ministry of Foreign Affairs was on the Indonesia desk, before I went on to serve as First Secretary in Jakarta. I had witnessed the importance of hydrography, through the negotiations with Indonesia over our western boundaries.

Importance of Hydrography

3.    As a maritime nation, Singapore has always recognised the importance of being a part of international maritime networks. We were formalised as a member State of the IHO on 1 July 1972, shortly after Singapore’s first dedicated container terminal, Tanjong Pagar Terminal, opened on 23 June that year. 

4.    Tanjong Pagar Terminal was the first container terminal built in Southeast Asia, and signalled Singapore’s bold ambition to be a global hub port. This meant that Singapore had to be prepared to support a growing fleet of larger and deeper draft vessels, and needed to build confidence in the maritime industry by demonstrating that the navigational routes into the Port of Singapore and its anchorages were safe and efficient for vessels.  As Singapore’s National Hydrographic Office, this mission still stands true for MPA today. 
 
5.    Being part of the IHO provides Singapore a credible voice at an international forum to influence and lead the development of hydrographic standards and exercise our thought leadership.  We have achieved this by playing active roles at the IHO Assembly, Council, strategic committees, working groups and regionally at the East Asia Hydrographic Commission (EAHC).   

6.    I wish to thank all hydrographic staff both former and present, including our other distinguished guests, for your immense contributions to Singapore’s hydrographic journey.  

Recognising Those Who Charted the Way

7.    In particular, I would like to highlight our former Chief Hydrographers amongst many others who had made notable contributions to Singapore:

Capt Wilson Chua

(i)    Capt Wilson Chua was our first Singaporean Chief Hydrographer, and the “start-up entrepreneur” of the Hydrographic Department under the former Port of Singapore Authority.  Under his charge, he oversaw the modernisation of hydrographic surveys from manual sextant angling to electronic positioning systems like the Trisponder and PolarFix.  He also supported and drove digitalisation efforts, by moving from hand drawn paper chart production to computer-based systems like CIHOS (Computer Integrated Hydrographic Operating Systems).  
(ii)    Under Capt Chua, we were able to work with Malaysia on the joint hydrographic survey in the East and West Johor Straits. This then enabled Singapore and Malaysia to conclude and sign the 1995 Singapore-Johor Boundary Agreement, which laid the basis for precise and permanent boundaries.
(iii)    Capt Chua was also actively involved in ensuring Singapore’s contribution to the Four Nations Joint Survey in the Straits of Malacca and Singapore which resulted in the production of Common Datum Charts based on the international World Geodetic System (WGS) datum.  

8.    The next person I wish to highlight is:  

Dr. Parry Oei

(i)    Carrying on Capt Chua’s legacy, Dr Parry’s foresight brought Hydrography to greater heights with the implementation of modern survey technologies.  The single beam echo sounder was replaced with the multibeam survey system which allowed 100% seabed coverage and 3D visualisation, use of satellite-based GPS positioning, and the move from paper charts to Electronic Navigational Charts (ENCs), which support the use of Electronic Chart Display and Information System (ECDIS).   
(ii)    Under Dr Parry’s watch, hydrography supported the successful international boundary delimitations between Singapore and Indonesia, as well as the 2008 International Court of Justice ruling, where the sovereignty of Pedra Branca was awarded to Singapore.
(iii)    On the international front, Dr Parry was active and led at the IHO and EAHC fora, and more recently Co-Chairing the United Nations-Global Geospatial Information Management - IHO Joint Working Group on Marine Geospatial Information.  He is driven by his deep passion for the protection of the marine environment and its impact to people’s lives.   
(iv)    In recognition of his contributions, we are proud that the IHO awarded Dr Parry with its highest honour in April this year – the Prince Albert I Medal for Hydrography. Today, Dr Parry continues to serve as Advisor (Hydrographic) at MPA.

9.    Of course, we also have Mr Thai Low Ying-Huang, our third Chief Hydrographer. Unfortunately, he is overseas and cannot be with us today. Building on the work of Capt Chua and Dr Parry, Thai Low brought hydrography into its next phase of digitalisation. He began our unmanned journey, through the use of unmanned surface vehicles, and led our early trials of the S-100 framework with our partners.  
 
10.    To Capt Chua, Dr Parry, and our many other veterans who have joined us here today – thank you for your leadership and contributions to Singapore’s hydrographic landscape, which have built a foundation the world trusts.

Future of Hydrography

11.    As we trace the journey of Singapore’s Hydrographic Office, one thing stands out: the value of embracing digital transformation early, sometimes even before it becomes an industry standard. That same spirit is reflected in this year’s World Hydrography Day theme “Transforming How Ocean Data is Shared”, as we push towards interoperable digital data standards, particularly through the IHO’s S-100 framework. 

12.    Singapore has long been an early mover in digital adoption and transformation. We were one of the first Hydrographic Offices in the world to produce large-scale ENCs for navigation, and I am confident we can move just as decisively on S-100. But speed will depend on partnership — working hand in hand with our research partners and government agencies to accelerate adoption and make the transition seamless for the maritime community we serve.

13.    Just as important is grooming the current and next generation of hydrographers, together with our institutes of higher learning. To the current and future generations – you are the custodians of this trust.  As the IHO transforms how ocean data and marine data is shared globally using the S-100 framework, I look to you to continue leading the way, harnessing technology with creativity, combining experience and expertise to bring Singapore’s hydrography to the next level.  

Closing

14.    For a nation closely tied to its ports and surrounding waters, hydrography is nothing less than foundational. Beyond its importance, it is also a field of fascination: where the science of mapping unseen seabed meets cutting-edge technology, and where each survey reveals a little more of a world that few ever see. 

15.    Thank you all for your dedication to Singapore, and to the maritime community. Wishing you a Happy World Hydrography Day!

2    It is my pleasure to welcome you to Singapore for the International Association of Maritime Economists Conference 2026. I am very glad to see such an esteemed gathering of maritime leaders, thinkers and policymakers. Your work helps us to understand not just the global maritime economy today, but also shapes how future generations will think about it.

3    IAME Conference ran its inaugural edition more than 30 years ago in 1994. It was a very different world then. The Cold War had just ended. The World Trade Organisation was being created. Globalisation was just accelerating. And internet was in its infancy.

4    Back then, the maritime industry’s priorities were clear — optimisation. We optimised routes. We optimised ships. We optimised ports. We optimised supply chains. And in doing so, maritime became the invisible engine of globalisation

5    Fast forward 30 years, the world has become more interconnected but also much more complex. We have lived through a global pandemic that brought supply chains to a standstill. We have witnessed wars and geopolitical tensions disrupt trade routes, energy markets and investment flows. We have seen climate change move from a long-term concern to an immediate business imperative. And we have seen advances in digital technologies and AI transforming industries and jobs at unprecedented speed

6    So, the priority today is no longer just optimisation. The priority today is navigating trade-offs. Should supply chains prioritise efficiency or resilience? Should ports invest in ammonia, methanol, hydrogen—or all three? How much data should companies share to unlock AI while protecting themselves from cyber risks? These are not engineering challenges alone. Nor are they purely economic challenges. They are strategic dilemmas. And strategy depends not only on what we choose to do, but also on what others choose to do. Governments respond to governments. Ports respond to competing ports. Shipping lines respond to cargo owners. Investors respond to policy signals.

7    Every decision changes the incentives for the next player. Increasingly, the maritime industry is operating in a world that cannot be explained by classical economics alone. It is operating in a world shaped by game theory. Game theory is often associated with mathematics. But at its heart, it asks a simple question. How rational actors make decisions when their outcomes depend on one another? I believe this provides a useful lens through which to understand today’s maritime landscape.

8    Let me start with the first game – geopolitics. 

9    For decades, global shipping pursued one objective above all else — efficiency. Today, countries are pursuing two additional objectives. They want resilient supply chains. And they want greater control over critical industries.

10    We have seen this play out in real time – from disruptions in the Straits of Hormuz, to the reconfiguration of global supply chains. What was once viewed as the strength of global interdependence is now viewed as a source of strategic vulnerability. 

11    Together, these competing objectives form what I call the geopolitical trilemma: Efficiency. Resilience. Control. All three are desirable. Yet no nation can fully maximise all three simultaneously. Reshoring strengthens sovereignty but raises costs and creates new concentration risks. Diversification improves resilience but at the expense of efficiency and control. Global optimisation lowers costs but creates strategic dependence.

The Prisoner’s Dilemma of Geopolitics

12    It is, in many ways, a classic Prisoner’s Dilemma. Every country benefits from open and predictable trade. Yet every country also has incentives to protect itself, secure critical minerals and reduce dependence on potential rivals. Collectively, these actions make the global economy less efficient. Individually, every decision is entirely rational. The challenge is therefore not a failure of economics. It is the consequence of strategic incentives.

13    This logic is not unfamiliar to the shipping industry. In many ways, we have witnessed our own version of a Prisoner’s Dilemma through the capacity arms races that have shaped container shipping. Every carrier benefits from a market where capacity growth remains broadly aligned with demand. Yet each carrier also has strong incentives to invest in larger fleets and bigger vessels. If competitors expand while you stand still, you risk losing market share, network coverage and strategic relevance. As a result, every player is incentivised to keep investing. Collectively, the industry can end up with excess capacity and weaker returns. Individually, each decision remains entirely rational. The lesson is a familiar one. Outcomes are often shaped not by the intentions of individual players, but by the incentives facing all players. 

14    For maritime businesses, this fundamentally changes the nature of competitiveness. The question is no longer, “How do we build the most efficient supply chain?” It is, “How do we build one that remains competitive when efficiency is no longer the only objective?” Resilience is no longer merely an operational capability. It has become a strategic one. And that is why resilience is emerging as a new source of competitive advantage.

15    Let me turn to the second game – decarbonisation. 

16    If geopolitics resembles a Prisoner’s Dilemma, then decarbonisation resembles something very different. It is a Stag Hunt.

17    The trilemma here is between three objectives that every one of us supports: Cost. Sustainability. Competitiveness. We all want shipping to decarbonise. But doing so requires significant investments – in green vessels, green fuels, and green infrastructure. These investments raise costs. Yet, passing these costs on can affect competitiveness. 

18    As a result, many players choose to wait for others to move first. Not because they lack ambition. Not because they lack technology. But because they lack confidence that others will move at the same pace.

The Stag Hunt of Maritime Transition

19    This is the logic of the Stag Hunt. The Stag Hunt tells the story of two hunters. Together, they can catch a stag and enjoy a much greater reward. Separately, each can hunt a rabbit. The rabbit is smaller. But it is guaranteed. Everyone prefers the stag. But no one wants to be the only one chasing it.

20    This perfectly captures the green transition. Shipowners hesitate to invest in vessels powered by new fuels unless they know those fuels will be available. Ports hesitate to build bunkering infrastructure unless ships arrive. Fuel producers hesitate to invest in production capacity unless demand is assured. Cargo owners hesitate to pay a premium unless consumers are willing to pay for greener supply chains. Everyone wants the same outcome. Everyone benefits if the ecosystem moves together. Yet everyone fears moving alone.

21    Unlike geopolitics, this is not a problem of conflicting interests. It is a problem of confidence. In a Prisoner’s Dilemma, the solution is to align incentives. In a Stag Hunt, the solution is to build confidence. Leadership, in this context, means reducing uncertainty so that others have the confidence to invest alongside us.

22    The third game is digitalisation.

23    Technology is transforming the maritime sector at a pace few could have imagined just a decade ago. AI can optimise voyage planning. Autonomous systems can improve inspections. Predictive analytics can enhance maintenance. Intelligent port operations can improve productivity. But digitalisation presents a different challenge.

24    The digital trilemma lies between: Interoperability. Security. Agility. Each objective is desirable. Yet each constrains the others. Systems that are highly interoperable and highly secure are often difficult to implement quickly. Systems that prioritise speed and security frequently become closed and proprietary. 

25    Unlike geopolitics and decarbonisation, the challenge here is neither conflicting interests nor a lack of confidence. It is a lack of consensus.

The Battle of the Sexes of Technology Consensus 

26    Digitalisation resembles what game theorists call the Battle of the Sexes. Despite its unusual name, the insight is simple. A couple wants to spend an evening together but cannot agree on what to do. One prefers to watch a boxing match while the other prefers to watch a ballet. The key point is that both would rather spend the evening together than apart. But coordination requires someone to compromise. 

27    Digitalisation presents the same challenge. We agree on the value of electronic bills of lading. We agree on the value of data sharing. We agree on the need for interoperability. The challenge is not convincing industry that digitalisation is worthwhile. It is agreeing on the standards, platforms and protocols we should all adopt collectively. How? And on whose terms?

28    The risk is not that nobody moves. The risk is that everyone moves in different directions. Technology alone will not solve this challenge. Consensus will.

29    Ladies and Gentlemen, the three games we have discussed are fundamentally different. Geopolitics is a Prisoner’s Dilemma. It challenges us to align incentives. Decarbonisation is a Stag Hunt. It challenges us to build confidence. Digitalisation is a Battle of the Sexes. It challenges us to foster consensus. Different games. Different solutions. 

30    But together they point to a common conclusion. The maritime industry can no longer compete through efficiency alone. The world is increasingly shaped by strategic games. So, leadership cannot simply be about making better decisions individually. It must be about creating the conditions that enable others to succeed alongside us.

What is Singapore’s Response? 

31    As a small island nation, Singapore cannot determine the outcome of these global challenges on our own. But we can influence how they are addressed. Singapore's position as a global maritime hub was built on strong foundations — our strategic location, world-class port infrastructure, vibrant maritime ecosystem, and reputation as a trusted and well-connected hub. And for more than six decades, Singapore has created value by connecting markets, upholding trust, investing ahead of demand, and bringing governments, businesses and innovators together. These principles remain as relevant today as they were at the start of our maritime journey.

32    But the world has changed. And so must we. Our ambition is not merely to remain one of the world’s leading maritime hubs. It is to become one of the world’s most trusted and indispensable maritime partners. Because in a world of strategic challenges, the greatest value often comes not from being the biggest player, but from being the player that helps others succeed. And so, our strategy is guided by five priorities. 

33    First, we are investing in resilience as a source of competitiveness.

34    For many years, Singapore earned its reputation through efficiency. That remains fundamental. But resilience has become equally important. Flexibility, optionality and adaptability are no longer costs to be minimised. They are strategic assets. The most successful maritime hubs will not simply move cargo efficiently. They will keep global trade moving when the unexpected happens. We have witnessed this time and again. When major trade routes are disrupted – whether by the blockage of Suez Canal, tensions in the Red Sea or the recent uncertainty in the Strait of Hormuz – global shipping networks come under strain. In such moment, shipping lines often rely on Singapore as a catch-up port: a trusted hub where schedules can be recovered, connections restored and supply chains brought back into rhythm. That ability to help the network recover is no longer just an operational strength. It is a strategic one. 

35    That is why Singapore continues to invest boldly in our future. With an expected annual handling capacity of 65 million TEUs, The Tuas Mega Port is not simply a larger port. It is a next generation port designed with state-of-the-art automation and digital solutions to provide greater scale, speed, flexibility and resilience for the global maritime network.

36    At the same time, we continue strengthening Singapore’s International Maritime Centre across ship finance, insurance, legal services, arbitration and maritime technology. A world-class port attracts maritime businesses. A vibrant maritime ecosystem, in turn, strengthens the competitiveness of the port. Together, they ensure Singapore remains a trusted maritime hub through changing economic cycles and geopolitical uncertainty.

37    Second, we are helping to reduce uncertainty for the green transition.

38    If decarbonisation is a Stag Hunt, then confidence becomes the catalyst for progress. Industry will invest only when it has confidence that others are prepared to invest alongside it. Singapore therefore sees our role not merely as building infrastructure, but as helping to create that confidence. 43. The maritime industry’s commitment to achieving net zero emissions by around 2050 represents one of the most significant transformations in its history. The destination is increasingly clear. What industry needs now is clarity on the pathway. 

39    Singapore remains committed to supporting the industry’s transition. As one of the world’s leading maritime and bunkering hub, we are facilitating trials of alternative marine fuels. We are supporting the electrification of our harbour craft fleet. And we are partnering internationally to develop green and digital shipping corridors, and developing rules and standards that can provide greater certainty to industry. Our objective is not to predict which technology or which fuel will ultimately prevail. Our objective is to create the confidence that enables industry to invest. Because confidence is the catalyst that turns ambition into action.

40    Third, we are strengthening ecosystems, not just infrastructure.

41    The maritime industry has always been an ecosystem. No ship sails without ports. No port succeeds without cargo. No supply chain functions without shipowners, financiers, insurers, technology providers, logistics companies and regulators working together. In the digital age, ecosystems become even more important. Competitive advantage will increasingly come not from individual assets, but from the strength of networks and partnerships. This has always been the philosophy behind Singapore’s International Maritime Centre. Through decades of hard work, we have managed to anchor more than 200 international shipping groups in Singapore, supported by a diverse ecosystem of shipping banks, class societies, P&I clubs, shipbrokers, maritime lawyers and more.  

42    Going forward, we are moving beyond physical connectivity to digital connectivity. We are building the foundations for a more connected and intelligent maritime ecosystem – enabling data to be shared securely, operations to be coordinated seamlessly and decisions to be made with greater speed and precision. Through initiatives like the OCEANS-X and Maritime Digital Twin, we are creating common data exchange platforms that allow industry, researchers and government agencies to collaborate more effectively. Our ambition is not simply to be a place where ships call. It is to be a place where the future of maritime is created.

43    Fourth, we are innovating for the future.

44    Throughout history, maritime has repeatedly reinvented itself. From sail to steam. From breakbulk cargo to containerisation. From manual operations to automation. Innovation has never been an option. It has always been the foundation of competitiveness. That remains true today. Artificial intelligence. Autonomous systems. Advanced robotics. Digital trade documentation. Alternative fuels. These technologies will reshape every part of the maritime value chain.

45    Singapore is therefore investing not only in technology, but in the conditions that enable innovation. We know that innovation rarely happens in isolation. It happens when researchers, entrepreneurs, investors, technology companies and industry practitioners come together to solve real-world problems. Through the Singapore Maritime Institute, we are fostering global partnerships in maritime R&D. Through initiatives like PIER71 and the Smart Port Challenge, we welcome innovators from around the world to develop and test solutions in real operating environments here in Singapore. Through the Maritime Innovation and Technology (MINT) Fund, we support companies to pilot and scale promising technologies. And we continue investing in maritime education, leadership development and workforce transformation. Because technology alone will not transform maritime. People will. Innovation ultimately begins with talent.

46    Fifth, we continue investing in trust as an economic infrastructure.

47    Perhaps Singapore’s greatest competitive advantage has never been geography. It has been trust. Trust that contracts will be honoured. Trust that regulations remain transparent and predictable. Trust that disputes will be resolved fairly. Trust that Singapore provides a stable and reliable platform for international business. In an increasingly fragmented world, trust becomes even more valuable. It reduces uncertainty. It lowers transaction costs. It encourages investment. It enables cooperation between parties that might otherwise hesitate. Trust is not simply a national value. It is a strategic asset. And we will continue investing in it.

48    Ultimately, the story of Maritime Singapore is one of continuous reinvention. For more than six decades, we have adapted to changing technologies, changing markets and changing global realities. Anchored in a clear mission. Driven by innovation. Strengthened by partnerships. And sustained by the people who make it all possible. The next chapter will require us to do the same.

Reimagining the Future: Maritime Singapore Masterplan 

49    To guide our journey, MPA will be developing a Maritime Singapore Masterplan. This industry-wide effort will identify future growth opportunities and strategies to position Maritime Singapore for its next phase of growth. Importantly, it will be co-created with businesses, industry stakeholders and the broader community. Because the future of Maritime Singapore cannot be built by any single organisation acting alone. It must be shaped collectively by the ecosystem that it serves. The Master Plan will provide a long-term roadmap to guide investments, business development, workforce transformation and capability building across the maritime sector.

Maritime is the Business of Reducing Friction 

50    Ladies and Gentlemen. For generations, the maritime industry has connected the world by reducing the friction of distance. Today, with a changing world, we face a different challenge. We must reduce the friction between competing national interests. Between technological possibility and commercial reality. Between individual incentives and collective outcomes. The strategic games I have described show us that many of today’s challenges are not failures. They are the natural consequence of rational players responding to uncertainty. That insight should not discourage us. It should encourage us. Because if these outcomes are shaped by incentives, then they can also be reshaped by leadership. That, I believe, can be Singapore’s enduring role as a global maritime hub. Not merely to compete. But to convene. Not merely to adapt. But to shape the conditions that enable others to succeed.

5 Priorities in a Changing World 

51    And the maritime leaders who will succeed in the years ahead will be those who do the same. Those who invest in resilience. Those who build confidence. Those who strengthen ecosystems. Those who innovate for the future. And those who earn trust. Because when we reduce uncertainty, we unlock investment. When we build confidence, we accelerate transformation. When we strengthen ecosystems, we multiply innovation. When we innovate for the future, we create new possibilities. And when we earn trust, we create the foundation upon which cooperation can flourish. If we can do that, we will not simply navigate the future of maritime. Together, we will shape it.

52    Thank you. 

2.    The vessel has since completed its transit through the Strait of Hormuz and is proceeding on its voyage.

3.    All 21 crew members are safe. There are no Singaporeans onboard.

4.    MPA will continue to remain in close contact with the vessel's management company and provide the necessary assistance.

5.    MPA is deeply concerned about the incident, which was unprovoked, unjustifiable, and a breach of international law.  All actions affecting international shipping must fully comply with international law, in particular the United Nations Convention on the Law of the Sea, and not endanger the safety of seafarers and ships at sea.

2.       The vessel reportedly took on water and subsequently sank. All nine crew members were safely rescued by the Indonesian authorities.

3.       The Maritime and Port Authority of Singapore is issuing navigational broadcasts advising vessels to exercise caution when transiting the area, and to report any sighting of containers adrift.

4.       Vessel traffic in the Straits of Malacca and Singapore remains unaffected.

5.       There are currently no reports of oil pollution in Singapore waters.

6.       MPA has informed the Indonesian authorities and is monitoring the situation.