Singapore: investments, a green corridor partnership and a new bunkering vessel project

GIC & Carlyle

Singapore’s sovereign wealth fund GIC and UK-based Carlyle will both invest in the development of Eneus Energy’s 14-plus GW renewable energy generation pipeline. Eneus is currently developing a series of renewable ammonia projects, including in the Orkney Islands in far-north Scotland. This is the second ammonia-related investment for GIC, who earlier this year invested in InterContinental Energy’s portfolio of renewable ammonia Supergiant projects.

The potential global market demand for green ammonia is huge as decarbonization strategies are being implemented to reduce the emission of greenhouse gases from fossil fuels. The investment from Carlyle and GIC will enable Eneus to continue to develop its pipeline of projects globally, starting with the US and UK.

Eneus Energy CEO Chris Bronsdon in his organisation’s official press release, 4 Aug 2022

Rotterdam & Singapore

The Maritime & Port Authority Singapore and Port of Rotterdam have agreed to establish a green maritime corridor by 2027. The two Authorities will work with a larger group, including the Global Centre for Maritime Decarbonisation and the Mærsk Mc-Kinney Møller Center for Zero-Carbon Shipping (as “action partners”), and bp, Maersk, Ocean Network Express and Shell (amongst others) as industry partners. The agreement will help accelerate the deployment of alternative maritime fuels like ammonia on the critical shipping route, which links two of the world’s largest bunkering ports.

International shipping will have to deploy at least 5% zero-emission fuels in its fuel mix by 2030 for the sector to meet a Paris-aligned net-zero target. To this end, green corridors provide a framework to harmonise standards and regulations, increase green fuels availability and strengthen their supply chains, and attract green financing for bunkering infrastructure buildout at ports involved. GCMD is excited to be an action partner in the development of the world’s first green and digital corridor. We will operationalise meaningful route-base, port-to-port pilots along this green corridor to help international shipping navigate and accelerate its transition towards a zero-carbon future.

GCMD CEO Professor Lynn Loo in the Port of Rotterdam’s official press release, 2 Aug 2022

PaxOcean Engineering, Hong Lam Marine & Bureau Veritas

The trio will jointly develop a new ammonia bunkering vessel. PaxOcean will develop the design, Bureau Veritas will verify the new vessel meets all requirements & regulations, and bunkering operator Hong Lam Marine will provide the necessary data to validate the design in a commercial operations setting. Representatives of the Maritime & Port Authority Singapore were present at the signing, and welcome the new collaboration (in what is becoming a very busy region for maritime ammonia developments).

Ammonia has great potential as a zero-carbon marine fuel and can play a significant role to help shipping reach its decarbonisation goals, but to fulfill this potential, more work is needed to overcome the safety and operational challenges. These challenges can be overcome through cross-industry collaboration, and we are very pleased to be working with PaxOcean and Hong Lam Marine to develop an ammonia bunker vessel design that de-risks ammonia as a marine fuel.

Bureau Veritas Marine & Offshore Vice President (South Asia Zone) David Sparrow in Hong Lam Marine’s official press release, 15 Aug 2022