Good morning.

1                It is a great pleasure to join you at the inaugural “LNG for Shipping 2026” conference, held alongside Singapore Maritime Week.

2                We gather at a pivotal moment. Global shipping is navigating profound change on multiple fronts — geopolitical uncertainty, supply chain disruption, and the demands of the energy transition.

3                And yet, what continues to stand out about our industry is this: these pressures have not diminished the maritime sector. If anything, they have reinforced one of its defining strengths — its ability to adapt, to innovate, and to remain resilient in the face of adversity.

4                That matters, because the choices we make now will shape the next chapter of maritime growth.

5                Let me begin with where we are today. For decades, shipping has been the backbone of globalisation. It carries more than 80% of global trade by volume. It connects markets across continents and enables economies — including small, open economies like Singapore — to participate meaningfully in global supply chains.

6                But we must also be clear-eyed about the environment we are operating in. The global landscape has become more complex. Geopolitical tensions have risen. Conflicts have disrupted critical shipping routes. Supply chains have come under strain. Recent events have reminded us how interconnected the global maritime system is — and how vulnerable it can be when stability is tested.

7                Here in Singapore, we feel this acutely. Governments, port authorities, and industry players are working closely together to safeguard the resilience of maritime operations. For Singapore, this means maintaining the flow of goods through our port, ensuring the availability of bunker supply, and prioritising the safety of seafarers and vessels. In such an environment, close coordination with partners, timely advisories, and real-time monitoring become even more critical.

8                But here is what gives me confidence. If there is one defining strength of the maritime industry, it is our ability to adapt, to evolve, and to remain resilient. Time and again, this sector has responded to uncertainty not by retreating, but by innovating — whether in technology, in operations, or in energy use.

9                That same spirit of resilience must now carry us through the next phase of transformation. Even as we navigate geopolitical uncertainty, we cannot lose sight of the longer-term forces that will shape shipping’s future.

10            Chief among them is decarbonisation. This is not only an environmental responsibility. It is increasingly a strategic imperative — for competitiveness, for resilience, and for energy security.

11            Volatile energy markets and supply disruptions have reinforced the importance of diversifying fuel sources and reducing dependence on any single pathway. No single fuel will solve all our challenges overnight.

12            The future of shipping will likely be multi-fuel. It will be shaped by vessel types, trade routes, technological readiness, safety considerations, and fuel availability. LNG, methanol, ammonia, biofuels, and emerging zero-carbon options will each have a role to play, alongside conventional fuels, as the transition unfolds.

13            That brings me to LNG. LNG matters because it is one of the few lower-emission marine fuel solutions available today at meaningful scale, supported by growing infrastructure and increasing operational experience.

14            Compared with conventional marine fuels, LNG can reduce sulphur oxides, nitrogen oxides, and particulate matter, while also offering lower carbon intensity. These are not abstract advantages. They are practical gains that matter to ports, ship owners, and communities alike. And in a period of uncertainty, practicality matters.

15            For shipowners making investment decisions today, LNG offers a credible pathway for near-term emissions reduction while preserving some flexibility for the future, including through the potential use of bio-and e-LNG as these pathways mature.

16            Despite the advantages, we also acknowledge that operating with LNG is not without its environmental challenges, including concerns over methane slip (where unburned methane is released into the atmosphere as a potent greenhouse gas) as well as its contribution to emissions as a fundamentally fossil-based fuel.

17            So perhaps the question is not whether LNG is the silver bullet for maritime decarbonisation. A better question is how LNG can work alongside other fuels as part of a credible, resilient, and commercially workable transition strategy.

18            In preparing for the future, Singapore’s approach is guided by a simple principle: we must enable transition without compromising safety, reliability, or service standards.

19            As one of the world’s leading bunkering hubs, Singapore is actively preparing for a multi-fuel future. This is anchored in a strong and credible regulatory framework.

20            High safety standards and operational excellence are not obstacles to innovation. They are what make innovation investable. They are what give industry the confidence to scale.

21            For LNG bunkering, Singapore has implemented robust licensing frameworks and operational standards, including Technical Reference 56, which will soon be upgraded to a Singapore Standard. This strengthens confidence among shipowners, charterers, and fuel suppliers — especially at a time when trust and reliability matter greatly.

22            Singapore is also strengthening its position as a global maritime hub through plans to scale up LNG bunkering. MPA opened a new LNG bunker supply licence application exercise in January 2026 as part of our proactive approach to meeting growing demand as the industry moves towards a multi-fuel future.

23            As part of our commitment to cleaner marine fuels, we are also exploring cleaner LNG alternatives such as biomethane within the licence framework, in support of the wider shipping community’s decarbonisation efforts.

24            But regulation alone is not enough. The role of a port authority is evolving — from regulator to active facilitator of industry transition.

25            In Singapore, MPA works closely with ship owners, fuel suppliers, technology providers, and other partners to ensure that infrastructure, standards, and processes keep pace with industry needs.

26            This approach extends beyond LNG. Our work on operational standards for methanol, ammonia, and LNG — informed by safety studies, trials, and industry engagement — reflects our commitment to building the future responsibly, and building it well.

27            Because in shipping, transition is not delivered by policy alone. It is delivered when regulation, industry capability, infrastructure, and trust move together.

28            Recent geopolitical developments have also reinforced another important reality: energy security, like decarbonisation, cannot be achieved in isolation. It must be pursued collectively.

29            That is why Singapore places strong emphasis on international collaboration — through Green and Digital Shipping Corridors, and through international organisations such as the IMO and ISO — to pilot solutions, align standards, and share experience across regions and trade routes.

30            The transition will move faster, and more safely, when we learn from one another and act with greater coordination.

31            Let me close with what may be the most important element of all: people. Fuel pathways matter. Technology choices matter. Infrastructure matters.

32            But ultimately, the success of this transition will depend on human capability. The maritime energy transition is, in many ways, also a workforce transition.

33            New fuels, digitalised operations, and increasingly complex vessels all demand new skills — from fuel handling and safety management to data, digital, and cybersecurity capabilities.

34            Singapore will continue to invest strongly in training and capability development. A skilled and adaptable workforce is essential not only for the safe and efficient adoption of new fuels, but also for ensuring that maritime professionals remain relevant and valuable as the operating landscape evolves.