French shipping giant CMA CGM Group and Maritime and Port Authority of Singapore (MPA) have signed a memorandum of understanding (MoU) to collaborate on the development of capabilities and solutions across maritime decarbonisation, digitalisation and innovation.
As informed, the MoU, signed on 22 June, seeks to explore the use of low carbon fuels and develop green technologies to accelerate maritime decarbonisation.
The partners will work on the use of zero and low-carbon marine fuels such as e-methanol, e-methane and biofuels for commercial shipping. Research on technologies such as carbon capture solutions is another objective of the MOU.
As CMA CGM advances to be a net-zero carbon company by 2050 diversifying its energy mix, the company ordered 10 dual-fuel liquefied natural gas-(LNG) powered vessels and 6 dual-fuel methanol-powered vessels. The methanol-powered newbuilds are planned to join the CMA CGM fleet by the end of 2025.
Three of these LNG vessels, which will also be e-methane-ready, will be registered under the Singapore flag. The firm’s e-methane-ready fleet currently counts 29 vessels in service and will have a total of 77 by 2026.
Moreover, the parties pledged to promote digitalisation and innovation in the maritime ecosystem for more efficient solutions.
Some of the areas on which the signatories will focus include maritime cybersecurity and just-in-time shipping, achieved through data exchanges for port and cargo documentation and reporting.
The MOU would also see the two parties work together on innovations such as shipboard automation for more safety, efficiency and smarter solutions onboard vessels.
Furthermore, CMA CGM and MPA will explore establishing and investing in Singapore-based incubators and accelerators to grow Singapore-based marine tech startups.
In line with its digitalisation agenda, CMA CGM has recently teamed up with PSA Corporation (PSA) to create and implement digital solutions relating to the company’s port and terminal handling activities in Singapore.
Under the MoU, will cooperate on new industry-wide initiatives to attract and empower the Singapore-based maritime workforce, tapping on the MPA Maritime Cluster Fund.
“Decarbonization, digitalization, and innovation are strategic priorities for CMA CGM and the entire shipping industry. Given Singapore’s key position in our global network, I am very pleased to sign this partnership with the Maritime and Port Authority. It will allow us to address the challenges ahead and strengthen our existing strong ties with Singapore…,” Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group said.
“We are happy to work with a like-minded partner like CMA CGM who shares our bold ambitions to make international shipping more sustainable and resilient,” Quah Ley Hoon, Chief Executive, Maritime and Port Authority of Singapore concluded.
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