Your Excellency Leif Trana, Ambassador of Norway to Singapore,

Dr. Saunak Rai, Chairperson of the 10th Clean Marine Fuel Forum,

Mr. Laurence Odfjell, Chair of the Board of Directors of Odfjell, 

Distinguished guests, ladies and gentlemen, 

Introduction

1.    Good morning. My sincere gratitude to the Norwegian Embassy and organisers for inviting me to speak at the 10th edition of the Clean Marine Fuel Forum. 

2.    Ten years of this Forum marks an important milestone and reflects our sustained efforts to advance clean marine fuels across the industry. It is difficult to predict how the transition will unfold in the years ahead. But conversations like today’s remain important as we work to keep global shipping on track to achieve net-zero carbon emissions by or around 2050. 

3.    As earlier speakers have reminded us, climate change does not wait for the world to find its footing. Nor does it pause while geopolitical events or uncertainties play out. We must press ahead regardless.   

4.    MPA will therefore keep working closely with industry and our partners to tackle the challenges of decarbonisation and move shipping towards a cleaner, greener future.

The Regulatory Challenges faced by the Maritime Industry

5.    In particular, there are two key challenges we need to tackle together. The first is the risk of an increasingly fragmented regulatory landscape. The second is closing the gap between clean fuel ambition and commercial deployment. 

Global and regional regulatory measures

6.    Let me start with the first challenge – the risk of a more fragmented regulatory landscape.  

7.    In 2023, the IMO adopted its Strategy on Reduction of Greenhouse Gas Emissions from Ships. This was a watershed moment for the shipping industry. 

8.    For the first time, global shipping agreed on a clear ambition of achieving net-zero greenhouse gas emissions by or around 2050. The question is, how do we get there? 

9.    We have heard much today about the IMO Net Zero Framework, and how member States have deferred its adoption to allow more time to reach agreement on its implementation. 

10.    For an inherently global sector like ours, regulatory certainty matters. A coherent global framework gives shipowners and fuel producers the confidence to make long-terms investments that require significant capital. 

11.    On the regional front, countries are exploring or have already implemented their own measures to regulate emissions from ships. One example is the European Union’s Emission Trading System, or EU ETS, which has covered the maritime sector since 2024. 

12.    Regional measures can play an important role in accelerating the sector’s transition towards a net-zero future. But they should complement the global system. Otherwise, a patchwork of regulatory measures could add unnecessary complexity and administrative burdens for the industry.

13.    In the meantime, although adoption of the IMO Net Zero Framework has been held back, technical discussions on it continue. Earlier this month, the Intersessional Working Group of the IMO’s Marine Environment Protection Committee (MEPC) met in London to consider how the Framework could be taken forward. 

14.    I am encouraged by the constructive tone of the meeting and by member States’ commitment to continue working towards achieving consensus. I hope this provides a good basis for eventually agreeing on a Framework that can command broad support and give the industry the certainty it needs. 

Gap between clean fuel ambition and commercial deployment

15.    This brings me to the second challenge – the gap between clean fuel ambition and commercial deployment. 

16.    The maritime industry is moving towards a multi-fuel future. For shipowners, the transition to alternative-fuelled vessels comes down to three questions: Is the fuel acceptable? Is it available? And is it affordable? 

17.    First, we must consider the acceptability of the fuel. This requires clear and supportive regulations, strong safety standards, and ports that are able to handle the fuel safely and respond effectively to incidents. 

18.    Second, the availability of fuels. Shipowners need confidence that their desired fuel will be available at the various ports of call, and that supply will be reliable and sufficiently diversified.  

19.    Lastly, affordability. While we have made progress on the acceptability and availability of alternative fuels, they are still significantly more expensive than fossil fuels today.

20.    Overcoming these hurdles requires ports, regulators and fuel producers to work together to narrow the cost gap and support commercial deployment. This is where ports such as Singapore have an important role to play.

Singapore’s Approach to Build a Multi-fuel Future

21.    Singapore’s approach is a pragmatic one. We are building capabilities to support multi-fuel pathways towards net-zero. These range from simpler drop-in solutions such as biofuels, to more novel ones such as methanol and ammonia, reflecting the diverse needs of the sector. 

22.    In recent years, Singapore has worked with industry on various fuel pathways, moving progressively from trials to safe operations at scale. 

23.    Last year, MPA awarded methanol bunkering licenses to three companies to supply methanol as a marine fuel. This was the culmination of more than three years of work – from our first methanol bunkering trial in 2023 to the publication of our methanol bunkering technical reference last year. 

24.    At every step, we worked closely with industry to address the unique challenges of methanol bunkering and provide regulatory guidance to ensure safe operations.

25.    We are also monitoring industry interest in other fuel pathways, such as ethanol, and working closely with relevant stakeholders to understand what is needed for its safe and efficient use as a marine fuel.

26.    Looking slightly ahead, ammonia is another key pathway that MPA aims to operationalise. While ammonia presents different challenges, we have learnt much from our pilot trials in Singapore and from our international partners. 

27.    These lessons are now informing the development of our ammonia bunkering Technical Reference, which is in its final stages and which we plan to release very soon. 

28.    Concurrently, the ammonia pathfinder project for power generation and bunkering, which MPA embarked on with the Energy Market Authority, is well under way. Our industry partners are currently conducting a Front-End Engineering Design study to advance the proposal before a Final Investment Decision. 

29.    Ultimately, shipping is a global industry, and Singapore cannot drive the energy transition alone. Singapore has therefore built strong bilateral partnerships through our Green and Digital Shipping Corridors, or GDSCs. 

30.    These GDSCs help act as pathfinders, bringing together like-minded partners across the industry and other countries to identify potential challenges and, more importantly, develop practical solutions to decarbonise shipping. 

31.    To date, we have signed a total of 10 GDSCs – four at the port-level and six at the national level.

Closing: Singapore's Commitment to the Journey Ahead

32.    To conclude, the pathway to net zero will not be straightforward. But uncertainty cannot become a reason for inaction.

33.    Singapore remains firmly committed to supporting the transition towards cleaner fuels. Together with our partners, we can build greater certainty and make the path to net zero clearer and more achievable. We can do this by developing coherent global rules at the IMO, setting common standards for new fuels, and creating the right conditions for these fuels to become available and affordable.

34.    Forums like today’s are important as they bring the right people together to turn shared ambition into practical action. I look forward to the discussions ahead and a productive exchange of ideas and experiences. 

35.    Thank you.