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Global Maritime Industry Players Gathered At Maritime Services Leaders Forum to Discuss the Impact of Digitalisation and Decarbonisation - Petromin

Global Maritime Industry Players Gathered At Maritime Services Leaders Forum to Discuss the Impact of Digitalisation and Decarbonisation

The Maritime and Port Authority of Singapore (MPA) held the inaugural Maritime Services Leaders Forum on Day 4 of Singapore Maritime Week 2022 to discuss how maritime services need to be evolved to better support digitalisation and decarbonisation efforts in shipping and maritime.

Speakers exchanging their viewpoints on the green financing trends in the maritime industry – Image courtesy of Maritime and Port Authority of Singapore

2 Leading industry experts from diverse maritime services companies gathered today at the forum to engage in high-level dialogue centred around maritime green finance, risk management and dispute resolutions. Three panel discussions titled  “Green Finance Trends and Unlocking Capital Flows for the Maritime Industry”, “The Changing Nature of Maritime Risks”, and “Maritime Dispute Resolution in Asia” dived into the opportunities and challenges arising from emerging industry trends and how maritime service providers can better address these challenges.

Quah Ley Hoon, Chief Executive of MPA, giving welcome address at the Maritime Services Leaders Forum during SMW 2022 – Image courtesy of Maritime and Port Authority of Singapore

3 In the welcome address at the Forum, Ms Quah Ley Hoon, Chief Executive, MPA highlighted that MPA is working on a maritime green finance strategy in pursuit of twin goals of developing Singapore as an International Maritime Centre (IMC) and a leading Centre for Green Finance in Asia. She added that there are plans to

(i) raise awareness of green finance programmes through industry sharing sessions (ii) explore development of a standard taxonomy

(iii) identify opportunities to widen and deepen the range of financing solutions in Singapore and create platforms to match the projects to the finance.  

4. Ms Quah also highlighted its recent collaboration with Lloyd’s of London which would see MPA featured as a case study in the former’s new climate action campaign.