Urgent.News

What's breaking now, across thousands of outlets.

Business

Singapore to build digital bunkering data ecosystem

It will secure the flow of information and protect the integrity of transactions for ship fuels

Singapore will develop a digital data ecosystem to capture and automate bunkering data flows for ship fuels, ensuring secure transmission to various parties involved in the value chain. The Maritime and Port Authority of Singapore (MPA) will lead the initiative, supported by traders and financiers. By reducing manual data entry, the digital system aims to maintain the integrity of transactions and sustain confidence in bunkering as it becomes more complex.

Singapore, the world's largest bunkering hub, is also exploring liquefied biomethane as a marine fuel, alongside ammonia as a bunker fuel, with the aim of achieving net-zero greenhouse gas emissions by 2050. The digital bunkering initiative is in Phase 2, building on the digitalization of ship refuelling processes and documentation in Phase 1.

Five decades of milestones shaping Singapore's success story have been highlighted, with the digital data ecosystem designed to secure and automate bunkering data flows from measuring devices to stakeholders. MPA will launch a grant call in November to support selected trials for Phase 2, with licensed bunker craft operators encouraged to collaborate with technology partners.

Singapore's efforts extend beyond bunkering, with initiatives focusing on LNG, biofuels, and biomethane, as well as the introduction of technical references for ammonia bunkering to support its development as a marine fuel.

Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

This story

This is one outlet's version. Read the fullest account.

Read the original at businesstimes.com.sg →

More in Business

More from Wednesday 14 October →