December 14, 2017 - The Maritime and Port Authority of Singapore (MPA) announced on Thursday (Dec 14) that it has pumped another S$12 million to boost Liquefied Natural Gas (LNG) bunkering in the Port of Singapore.
Half of the amount will be used to co-fund the building of new LNG bunker vessels (LBVs) to develop ship-to-ship LNG bunkering at the port of Singapore while the remaining half will top-up MPA's existing co-funding programme to support the building of LNG-fuelled vessels.
The initial funding for the programme, which was launched in 2015, has been fully utilised to support Keppel SMIT Towage, Maju Maritime, Harley Marine Asia, Sinanju Tankers and most recently, PSA Marine, said MPA in a news release.
"With the implementation of the International Maritime Organization's (IMO) 0.5 per cent global sulphur cap on Jan 1, 2020, LNG is a viable and tested solution for shipowners," said Mr Andrew Tan, chief executive of MPA.
He added that MPA will support future demand for LNG by promoting the development of ship-to-ship LNG bunkering in the port of Singapore.
"This will provide the industry greater confidence in the availability of LNG supply across key shipping routes," Mr Tan said.
MPA said that applications for the new fund for building LBVs are open and that interested companies are invited to co-fund up to S$3 million per LBV.
Companies that want to apply "must be incorporated in Singapore, and the funded vessels must be registered with the Singapore Registry of Ships and licensed for bunkering activity in the Port of Singapore for a period of at least five years."
Applicants will have to submit their business plan for the proposed LBV before Mar 31 next year, which includes working with MPA's existing LNG bunker supply licesees, where applicable, it said.
Earlier this year, an LNG bunkering demonstration was held in Singapore - the first time the natural gas has been supplied to a ship from a port in Southeast Asia.
Source: Channel NewsAsia