Singapore and Shandong Ink Agreement for Green and Digital Shipping Corridor
The Maritime and Port Authority of Singapore (MPA) and the People’s Republic of China’s Shandong Provincial Transport Department signed a memorandum of understanding (MoU) on 9 October to establish the Singapore – Shandong Green and Digital Shipping Corridor (GDSC).
The Singapore – Shandong GDSC will tap the growing trade and shipping volumes between the two economic centres, supported by their strong research and innovation ecosystems, to drive the adoption of green and digital solutions and growth of the maritime industry between Singapore and the Bohai and Yellow Sea region. Singapore is the world’s largest bunkering hub and busiest transshipment seaport, and Shandong is a coastal province which hosts a key cluster of ports and shipyards along China’s coastline including Qingdao Port, which is among the world’s busiest container ports. Shandong is also China’s second most populous province, after Guangdong, with approximately 101 million people. Shandong has the third largest provincial economy in China with a GDP of 9.2 trillion RMB (approximately 1.7 trillion SGD) and GDP growth of 6% in 2023.
Under the MoU, MPA and the Shandong Provincial Transport Department will work with various stakeholders, including maritime administrations, port operators, maritime companies, institutes of higher learning, and shipyards, to promote digital and low-carbon initiatives for shipping. Focus areas include exploring collaboration in emerging technologies, training in safe handling of alternative fuels, knowledge sharing on shore power technologies, exchange of digital information to facilitate port clearances, and sharing of standards and best practices.
This MoU marks the second GDSC between Singapore and China following the Singapore – Tianjin GDSC established in 2023.