Singapore and Australia have signed a Memorandum of Understanding (MoU) to legally create the Singapore-Australia Green and Digital Shipping Corridor (GDSC).
Singapore and Australia’s Prime Ministers hailed the signing of the MoU at their 9th Annual Leaders’ Meeting in Melbourne on 5 March 2024.
This comes nine months after Australia and Singapore announced plans to establish a Singapore-Australia green and digital shipping corridor by the end of 2025.
The MoU, signed by Chee Hong Tat, Singapore’s Minister for Transport and Second Minister for Finance, and the Hon Catherine King MP, Australian Minister for Infrastructure, Transport, Regional Development, and Local Government, aims to expedite marine decarbonisation and digitalisation.
Under the terms of the MoU, both countries will collaborate with interested parties to investigate opportunities for developing zero or near-zero GHG emission fuel supply chains for the maritime industry, which will include building necessary infrastructure, formalising standards, and developing and implementing training requirements.
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The MoU will also look into ways to facilitate digital information exchange to allow for more efficient port clearance, port calls, and vessel flow between Singapore and Australia, as well as collaboration between the Singapore Maritime and Port Authority (MPA), Australian federal, state, and territory governments, and industry stakeholders.
The partnership is planned to accelerate the development and implementation of zero or near-zero GHG emission technologies, as well as the adoption of digital solutions to improve the resilience, efficiency, and sustainability of global marine supply chains.
