Lloyd's Register, a leading international classification society and risk management organisation, the Maritime and Port Authority of Singapore (MPA) and the National University of Singapore (NUS) have collaborated to set up two professorships at NUS, worth a total of S$9 million. The aim is to further boost the growth of maritime research and development (R&D) in Singapore, in particular, offshore research.

The Memoranda of Understanding to set up the two professorships, namely the Lloyd's Register Professorship and the MPA Maritime Technology Professorship (MTP), were signed at NUS today. The signing ceremony was witnessed by the Minister of State for Finance and Transport, Mrs Lim Hwee Hua, and the British High Commissioner to Singapore, HE Mr Alan Collins.

Under the MOUs, Lloyd's Register and MPA will each commit S$3 million to the Lloyd's Register Professorship and MTP, respectively. With Lloyd's Register's contribution, NUS will seek from the Government, through the Ministry of Education, a dollar-for-dollar matching grant, bringing the total worth of the Lloyd's Register Professorship and MTP to S$9 million.

The establishment of the Lloyd's Register Professorship and the MTP is an important tripartite collaboration between industry, government agency and tertiary institution, and a significant step forward in our efforts to create a dynamic maritime R&D cluster in Singapore. It also marks the first time that Lloyd's Register, a diverse international company, founded in the UK, has committed funds to set up a professorship outside of the UK. This is a clear demonstration of Lloyd's Register's determination to promote maritime R&D and its confidence in the Singapore Government's commitment to develop Singapore as a premier centre for maritime R&D.

In her address, the Minister of State for Finance and Transport, Mrs Lim Hwee Hua said, "The establishment of these research professorships today fits in with Singapore's focus on research and innovation which will be critical drivers to transform the Singapore economy in the next 10 to 20 years... For the maritime sector, the MPA is committed to developing and promoting maritime R&D and innovation. Maritime R&D will help Singapore to be at the forefront of new maritime technologies and give Singapore a leading edge."

Highlighting the collaborative efforts between the UK and Singapore in R&D, HE Mr Alan Collins, the British High Commissioner to Singapore said, "The UK recognises that 95 per cent of research is undertaken outside the UK and to be successful, our companies need to partner not only with our excellent UK scientists but also with the best from around the world. I am therefore delighted that the latest collaboration is between one of the UK's top companies - Lloyd's Register and NUS - Singapore's premier university."

The Lloyd's Register Professorship and MTP will be established at the Centre for Offshore Research & Engineering (CORE), which is jointly set up by NUS and the Economic Development Board (EDB). The Professorships will be used to support offshore research & engineering and maritime R&D through the participation of prominent visiting professors or renowned industry experts as R&D project leaders or advisors.

BG Tay Lim Heng, Chief Executive of the MPA said, "The MPA places strong emphasis on maritime R&D as it is an important driving force behind our vision to develop Singapore as an international maritime centre, IMC. We are therefore happy to support the LR-NUS partnership through our Maritime Technology Professorship. The combination of our global hub port, a thriving IMC and a leading global offshore and ship repair centre make cosmopolitan and multi-cultural Singapore an ideal location for the development of maritime R&D."

Taking pride in supporting CORE with the establishment of the Lloyd's Register Professorship in Offshore Engineering at the NUS, Mr John Stansfeld, Director for Asia, Lloyd's Register Asia, commented, "The NUS is ranked No. 22 in a global ranking of 200 best universities and 9th for the disciplines of Engineering & IT (above many better known universities) and this has been an important factor in the decision to support a university outside of the UK for the very first time."

Speaking for CORE, NUS President Shih Choon Fong commented, "The NUS Faculty of Engineering's CORE has been at the forefront of R&D efforts to strengthen Singapore's base of offshore engineering capabilities. It is thus a most opportune time, when the maritime and its associated marine and offshore engineering industry are assuming an ascending role in the world economic landscape, that these three organisations come together to jointly broaden the scope of their endeavours."

Mr Teo Ming Kian, Chairman, Singapore Economic Development Board, said, "I am delighted that CORE has provided a conducive platform for this tripartite collaboration, and I am confident we will see many more such private-public sector collaborations. We would like CORE to be one of the world leaders for research and education in the field of oil & gas and offshore engineering, and this collaboration is a strong step towards enhancing the R&D capabilities of this important industry in Singapore."
The MOUs were signed by Mr John Stansfeld, Director for Asia, Lloyd's Register Asia; BG Tay Lim Heng, Chief Executive, Maritime and Port Authority of Singapore; and Professor Shih Choon Fong, President, National University of Singapore.

End of release.

Attached:
Speech by Minister of State for Finance and Transport, Mrs Lim Hwee Hua
Speech by Prof Shih Choon Foong, President, NUS
Fact sheet on Lloyd's Register Professorship and MPA Maritime Technology Professorship
Fact sheet on Centre for Offshore Research & Engineering (CORE)