Maritime business opportunities in Singapore beyond 2016

Singapore is one of the world’s busiest ports, with a reputation of being one of the most efficient. By way of continuously enhancing Singapore business environment and improving market access, Singapore strives to serve as the gateway to opportunities in growing Asia.

MPA

Photo: MPA Singapore

In June 2016, Singapore has retained its top spot as the best Seaport in Asia for the 28th time. The awards organized by freight and logistics publication Asia Cargo New, was voted by its international pool of readers across the industry.  http://www.channelnewsasia.com/news/business/singapore-named-best/2875236.html

Norway is also Singapore’s strategic partner for over the past 50 years and will continue to be so as both countries share a joint vision to develop as leading and technology-driven maritime nations.

Innovation Norway Singapore welcomes you to harness your potential and tap on growth opportunities in the maritime industry in Singapore.

Singapore’s Mega Port 2030 project

Singapore’s government is building a major next-generation container terminal that will triple the handling capacity of the current port by up to 65 million TEUs per year. The Tuas terminal will be developed in 4 phases over 30 years, with phase 1 to be completed by 2020.

Together the Government, port authorities, stakeholders and key partners, Singapore will invest heavily and build up its mega port project by investing in automation, digitalization and embracing cutting-edge technology. http://www.channelnewsasia.com/news/business/phase-1-of-tuas-terminal/2742130.html

Maritime Technology needs for Singapore

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The scale and complexity of the project is a call to action for qualified local and international companies to offer innovative solutions.

 

Singapore has prioritized some of the critical technologies that are highly valued for future implementations;

  • Ship building & Intelligent Port Management: Calling for advances in ship building technologies to support expansion for Port services and enhance construction facilities. Likewise, solutions in better built-in algorithms and tools that can manage the high vessels traffic efficiently and support data security as well as port management.
  • Big data and predictive analytics: Maritime IT solutions that can manage large amount of data’s multiple connections from different sources that can be shared among the next-generation ship owners, port operators and other players in the maritime eco-system.
  • Automation and Autonomy systems: To achieve higher operational efficiency, effectiveness and reliability, Singapore is looking for relevant technologies in port automation, shipyard automation and autonomous port operations. The port authorities are currently exploring and test-bedding a wide range of automation technological solutions such as smart crane management, storage and automated guided vehicles (AVGs) for shutting containers between quayside and container yard.

Technology Funding and Grants from Singapore

The Maritime and Port Authority of Singapore (MPA) has in place a number of Funding and Grants programmes to help both new and existing players develop their business.

Grant of up to 50% of the total qualifying project costs (inclusive of input GST), comprising of manpower and equipment either engaged or acquired for the purposes of the project , and other operating expenditure incurred for the purposes of the project.

The prioritized project areas for collaborations include:

  • Maritime Singapore Green Initiatives. It is a comprehensive initiative comprising 3 programmes – the Green Ship Programme, Green Port Programme and Green Technology Programme.
  • Development of LNG as a cleaner fuel for maritime transportation as well as bunkering projects.
  • Digitalization and automation technologies for developing Singapore’s next generation port project.

Highlights on main shipyards in Singapore

Despite the challenging conditions for global offshore market, the Singapore shipyards have been kept busy working on clearing its backlog orders as well as new contracts from repeat customers.

The two largest shipyards groups are SemCorp Marine and Keppel Offshore & Marine.

According to SemCorp Marine, they expect to focus more activities on ship repairs, upgrades and modifications projects. Some of the potential projects are related to the work on LNG carriers, FPSOs and the growing cruise ships business. Last year, the yard had upgraded more than 12 cruise ships and they expect more projects within the coming years.

For Keppel Shipyard, a wholly owned subsidiary of Keppel Offshore & Marine, they had some good news to share when they secured four new contracts worth about S$120 million ($89 million). http://www.worldoil.com/news/2016/7/7/keppel-offshore-marine-wins-four-new-contracts

Contact

If you would like to have more information, please feel free to contact:

Jeffrey Lai, Senior Advisor – Innovation Norway Singapore
Email: Jeffrey.lai@innovationnorway.no
Mobile: +65 9680-3368

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