Signing up for Green Maritime Corridors

Last month we explored the growing momentum behind the “Green Maritime Corridors” concept, as well as some interesting developments at either end of the first announced corridor (Los Angeles – Shanghai). In the short time since then, we’ve seen a flurry of significant players express their interest in the space.

Castor Initiative: new ammonia-fueled VLCCs to operate within green corridors

This week three members of the Castor Initiative – Lloyd’s Register, Samsung Heavy Industries (SHI) and MISC Berhad (MISC) – joined forces to develop & build two ammonia-fueled Very Large Crude Carriers. In the announcement, the trio also indicated they were in the process of identifying green maritime corridors for the VLCCs to operate in, guaranteeing access to ammonia bunker fuel.

Getting these vessels on water is not the only focus, there is the long game of ensuring the reskilling of talent and the availability of bunkering facilities which are key to the sustainable operations of these two new vessels.

MISC President and Group CEO Datuk Yee Yang Chien in LR’s official press release, 4 Apr 2022

The European Green Corridors Network

Five north European port authorities – Gdynia, Hamburg, Roenne, Rotterdam, and Tallinn – and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping have joined forces to form the European Green Corridors Network (click to download pdf). While in its very early stages, the partners already intend the multi-phase project to demonstrate the early commercialisation of alternative fuel supply chains, provide a roadmap for scaling up, and provide a blueprint for further green corridors to emerge.

Developing green corridors are instrumental in activating industry first-movers across the value chain, and this project can be used as industry references to develop blueprints for new business models and identify the maritime industry’s inter-dependencies. It is truly fascinating to see a whole region and various stakeholders engaged in this.

CEO of the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping Bo Cerup-Simonsen in the official press release, 30 Mar 2022

Singapore to sign the Clydebank Declaration

Singapore will become the twenty-third signatory state to the Clydebank Declaration for Green Shipping Corridors, Singapore’s Transport Minister S Iswaran announced at the opening ceremony of the country’s Maritime Week. In his address, Minister Iswaran indicated that Singapore is expecting to participate in half-a-dozen green maritime corridors between Asia, Europe, North America, and Australia.