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Singapore's maritime cluster navigates towards digital, green future

Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.

Singapore’s maritime industry is steering its course towards sustainability and digital innovation.

Teo Eng Dih, chief executive of the Maritime and Port Authority of Singapore (MPA), emphasised the need for the maritime services cluster to adapt to the industry's changing needs.

“This includes examining the implications of emerging issues and new developments, such as the adoption of alternative fuels, on legal clauses and obligations in shipping forms and contracts,” said Teo in the Maritime Services Leaders Forum (MSLF) on 18 April.

He added that the Singapore Chamber of Maritime Arbitration (SMCA) will establish working groups to delve into these issues further.

The event, hosted by the MPA, brought together over 200 global industry leaders to deliberate on the pivotal role of maritime services in spearheading digital and green transformations.

Singapore stands as a leading International Maritime Centre, hosting over 180 international shipping groups, supported by 30 shipbroking firms, 30 maritime law firms, and 20 financial institutions. Additionally, 10 out of the 12 International Group of P&I clubs have a presence in Singapore. Leading shipbroking firms like SSY, Fearnleys, and Braemar have expanded their services to include financial advisory in Singapore to cater to regional and global clients.

Backed by a robust legal framework and government support, Singapore offers comprehensive dispute resolution services. The Singapore International Commercial Court (SICC) and SCMA introduced the SICC Jurisdiction Model Clause in 2023, providing specialised services for the shipping and trade sectors.

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SCMA was also selected as the host partner for the International Congress of Maritime Arbitrators XXIII, scheduled for 22 to 27 March 2026.

Moreover, the country will also host the International Union of Marine Insurance annual conference from 15 to 18 September 2025, providing a global platform for marine insurers to discuss key sectoral issues.

In efforts towards sustainable maritime practices, MPA and Enterprise Singapore are developing national standards for methanol and ammonia bunkering. 

Additionally, Singapore's commitment to the maritime sector is evident as it retains its top position in the Leading Maritime Cities of the World report by DNV and Menon Economics for the sixth consecutive time.

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