Fellow colleagues, ladies and gentlemen,

1.      A very good morning.

2.     Let me first thank ABS for inviting me to this year’s Technology Forum. This is the third year that ABS is holding this forum in Singapore, and I am heartened to see a growing turnout year on year. Forums like this are useful platforms for thought leaders and practitioners like all of you to come together, exchange ideas and spark innovation.

3.     As I was working on this speech over the weekend, I asked myself – What is the one defining innovation that has revolutionised shipping? So I took out my phone and asked ChatGPT.

4.     ChatGPT told me it was autonomous vessels. I was like “Yeah… but autonomous vessels are not that widespread yet. Can you give me another example?” And ChatGPT said digital navigation systems. I was like “Ok… but I’m sure there’s something even more revolutionary right?” Then ChatGPT said containerisation. And I kept asking and asking, going further back in time each prompt, until it finally struck me.

5.     There is no one single innovation that has redefined shipping. The entire history of maritime has always been driven by innovation and technology. If you go far enough back in time, somewhere in our distant past, someone had the bright idea of tying logs together to make the world’s first boat. Then some time later, another innovator came along and thought of attaching a cloth to a mast, giving rise to the first sailboat.

6.     Since then, each innovation keeps propelling the industry forward – sometimes in incremental steps, other times by leaps and bounds. From the invention of the compass to the advent of steamships, from the rise of containerisation to the adoption of digital navigation systems, innovation and technology have always been the bedrock of our industry.

7.     There is a saying – “Necessity is the mother of all invention”. Indeed, challenges, problems and obstacles often drive creativity. Today, the maritime sector continues to face many challenges, but I would say the three key challenges we face are manpower constraints, climate change and security issues.

8.     Technology holds immense potential to address these challenges. In my view, there are 3 main ways that technology can make a difference. I call them the 3 Ts:

a. The first T is to transform your operations to be more efficient and productive,

b. The second T is to transit your business to a greener and more sustainable future, and

c. The third T is to build trust and transparency within the ecosystem

9.     Let me speak on each T in turn.

Transform: Harnessing Technology for the Next Phase of Transformation

10.   The first T is Transform.

11.   Digitalisation has made the world smarter and more interconnected. Technologies like the Internet of Things (IoT), automation, and digitalisation have transformed how we operate.

12.   The next frontier lies in artificial intelligence (AI) and autonomous navigation. One pressing challenge today is the shortage of seafarers. This is a global issue, driven by an aging workforce and declining interest among younger generations in pursuing careers at sea.

13.   A gamechanger is autonomous vessels and systems, which can take over repetitive or hazardous tasks, allowing seafarers to focus on higher-value activities. These technologies not only enhance operational efficiency but also improve working conditions, making maritime careers more attractive. While full autonomy is the end journey, the immediate and near-term benefits of such technologies would already lead to enhanced safety and reduced crew workload. ABS has been at the forefront, leveraging its simulation and modelling capabilities, for remote monitoring and vessel operations. MPA is also supporting trials to integrate autonomous vessels with our port systems, to enhance safety and operational efficiency.

14.   For shore-based roles, agentic AI offers a promising solution. AI-powered virtual assistants can support vessel operations to ensure resilience during disruptions; streamline and assist on port documentations to meet different regulatory requirements and compliance; as well as optimise trade routes and service networks for revenue.

15.   Beyond AI and automation, another transformative technology is additive manufacturing, or 3D printing. By enabling on-demand production of complex spare parts, it will revolutionise ship repair, allowing vessels to undergo small-scale repair works at any port, regardless of make or model. This reduces waiting times and minimises inventory costs. To accelerate adoption, MPA and ABS have developed a qualification framework to streamline approval process for 3D printed parts.

16.   MPA will continue to invest in smart technologies to unlock new levels of efficiency and competitiveness. We have set aside more than $250 million in the Maritime Innovation and Technology Fund, or MINT Fund in short, to support R&D of maritime technology and to incubate tech start-ups. I encourage all of you to also invest in these technologies to transform your business and operations.

Transit: Leading the Charge Towards a Greener Maritime Future

17.   Let me now move on to the second T – Transition.

18.   Let me acknowledge the elephant in the room. We are all waiting with bated breath the outcome of the IMO MEPC meeting taking place in London now. There may be differing views from different countries on how the trajectory to net zero should look, and whether IMO’s Net Zero Framework is too aggressive or not aggressive enough.

19.   But regardless of our views, it does not change the fact that we, as stewards of the global maritime industry, need to do our part to tackle climate change. Sustainability is not just an environmental imperative; it is also a strategic advantage. As the world gets more climate conscious, customers will demand greener products and services. Shipping’s Scope 1 emissions will after all be our customers’ Scope 3 emissions. So being sustainable can also be a competitive advantage, making our business more attractive to our clients, investors and also the younger generation who will be our future workforce.

20.   This is why MPA is committed to supporting our maritime industry as they undergo the green transition. We know that many companies are exploring ships that run on alternative fuels. But the range of these ships will be limited if there are no stops along the way that can allow them to refuel. Hence, as a bunkering hub, Singapore is exploring the bunkering of alternative fuels like ammonia, methanol and LNG. We have run several successful trials, including the world’s first ship-to-containership methanol bunkering operation in 2023. ABS played a pivotal role in this milestone, developing comprehensive safety procedures that set new industry benchmarks.

21.   Besides alternative fuels, MPA is also supporting the research and development of green maritime technology through the MINT Fund I mentioned earlier. For instance, we have worked with industry and our local universities to design, develop and trial new electric harbour craft. ABS, too, has partnered with NUS and other industry players to develop a prototype for a next-generation ammonia marine engine.

22.   These innovations demonstrate how technology can help the maritime sector transit to a greener and safer future.

Trust: Building Stronger Trust in the Maritime Ecosystem

23.   With that, let me move on to the third "T" – Trust.

24.   Trust is the foundation of a resilient maritime ecosystem. For too long, malpractices in bunkering or wrongful declarations of cargo have eroded confidence among stakeholders.

25.   Technology can play a pivotal role in tackling this. For example, blockchain and other verification technology can enable secure and transparent transactions. For instance, Singapore has also worked hard to digitalise bunkering workflows and authenticate bunker documentation. This way, we ensure that what you buy is what you get. No more cappuccinos. No more special blends.

26.   Cybersecurity is also something that is becoming of grave concern. Just last month, a ransomware attack led to widespread flight disruptions across Europe. And who can forget the infamous CrowdStrike incident last year that almost crashed the entire world.

27.   As the maritime sector gets more and more digital, it is imperative that we strengthen our cybersecurity and MPA is likewise determined to support all of you in this effort. Earlier this year, MPA launched the Maritime Testbed of Shipboard Operational Technology (MariOT) system — the world’s first industrial-grade cyber-physical platform. Developed in collaboration with the Singapore University of Technology and Design (SUTD) and industry partners like ABS, this facility provides a controlled environment for cybersecurity training and testing. Trainees can gain hands-on practice and experience with potential cyber threats, while cyber solution providers can test and develop their solutions in a realistic maritime environment. I encourage and welcome partners to make full use of this system for your training and testing needs.

Collaboration: Unlocking the Potential of Technology and Innovation

28.   As we embrace technology and innovation, we must also recognise the role of our workforce in unlocking its full potential. The adoption of new technologies often raises concerns about job losses, but history has shown us that innovation creates opportunities for new roles and skills. By equipping our workers with the right training, we can ensure that they are prepared for the future and empowered to thrive in it.

29.   MPA is committed to upskilling and reskilling our maritime workforce. Through initiatives such as the Maritime Energy Training Facility (METF) and partnerships with Institutes of Higher Learning, we are providing training in areas like alternative fuels, cybersecurity, and digitalisation. These efforts are designed to address the evolving needs of the industry while ensuring that our workers remain at the forefront of global maritime innovation.

30.   I must also thank ABS for sponsoring the PIER71™ Smart Port Challenge 2025. By grooming innovators and start-ups, ABS is helping to shape the future generation of the maritime sector. I am equally glad that we have renewed our collaboration MOU for another five years, focusing on establishing the Singapore Maritime Safety Center. This facility will employ immersive training techniques, such as virtual reality, to prepare seafarers for the challenges of alternative fuels and new technologies.

Conclusion

31.   In conclusion, the maritime industry stands at a pivotal moment in its history. The challenges we face are significant, but so are the opportunities. By embracing technology and innovation, we can navigate these challenges and unlock new possibilities along the 3 Ts of Transformation, Transition and Trust.

32.   Let me end with a story. In the 1960s, when containerisation was still in its infancy, Singapore’s founding Prime Minister, Mr. Lee Kuan Yew, made the bold decision to invest in a container port. At that time, many people looked at him and asked why. This is untested technology. The risk is too high. But he insisted. Deep in his gut, he knew this was a bet that had to be made.

33.   The big bet paid off. His visionary move transformed Singapore into a global maritime hub, laying the foundation for the prosperity we enjoy today. It is this same spirit of boldness and foresight that must guide us as we invest in technology and innovation for the future. Together, we can build a maritime ecosystem that is safe, sustainable, and smart.

34.   Thank you and I wish you a fruitful and productive day ahead.