The Ministry of Transport of the Republic of Singapore and the Ministry of Oceans and Fisheries of the Republic of Korea (ROK) have signed a Memorandum of Understanding (MOU) to establish the Singapore-ROK Green and Digital Shipping Corridor (GDSC).
Under the MOU, the Maritime and Port Authority of Singapore and the Ministry of Oceans and Fisheries will explore and implement initiatives to support the maritime sector’s transition to zero or near-zero greenhouse gas emission fuels. These include developing bunkering infrastructure, aligning technical standards, exchanging technical knowledge, conducting trials with industry and research partners, and providing joint training for maritime stakeholders. The MOU also aims to accelerate digitalization to enhance information exchange and operational efficiency.
“The Republic of Korea and Singapore are key maritime partners in Asia, and together we will lead efforts to achieve international shipping decarbonization,” said Chun Jae Soo, Korea’s Minister of Oceans and Fisheries. “Through this cooperation, both countries will promote the adoption of green fuels and digital solutions, contributing to the sustainable growth of the global maritime sector.”
Singapore has established several green shipping corridors over the years, the most recent one was with China. The country’s green shipping program grants up to 100% concessions on initial registration fees and annual tonnage taxes for ships that Exceed International Maritime Organization’s (IMO) MARPOL Annex VI Phase 3 Energy Efficiency Design Index (EEDI) requirements by 10% or more. This can be achieved through low-or-zero emission fuels and technology or low-or-zero carbon fuels or technology. The concessions apply to Singapore-registered ships (SRS)and ocean-going vessels calling at the Port of Singapore.
“This partnership underscores our shared commitment to building a sustainable and future-ready maritime sector,” said Jeffrey Siow, Acting Minister for Transport. “By advancing clean energy, digital innovation, and skills development, we not only address national priorities but also contribute to global efforts for green shipping and strengthen supply chain resilience.”
