AUSTRADE sharpened its focus on decarbonisation in the maritime industry at a business mission in Singapore and Malaysia.
This is the first Australia Southeast Asia Business Exchange mission to the two countries. It is said to have given Australian businesses a first-hand look at South East Asia’s maritime industry, with discussions centred on fuel, vessel and portside technology.
The inaugural mission, led by assistant minister for trade Tim Ayres, focused on the industry’s green energy transition. The mission comprised 22 Australian companies, research institutions, and industry organisations across the maritime supply chain.
Malaysia is targeting 40% low-carbon fuel penetration for marine transport by 2050. Singapore is aiming for full electric propulsion and net zero fuels for its harbour craft fleet in the same timeline. Austrade believes these decarbonisation goals open opportunities for Australian organisations that offer green solutions for the maritime industry.
The mission generated strong interest from Singaporean and Malaysian ports and investors, who were particularly interested in fuel supply (ammonia and methanol) and electrification solutions. Among the highlights was a visit to Fortescue Green Pioneer in the Port of Singapore, where the vessel successfully trialled the use of liquid ammonia and diesel as a marine fuel.
Australian companies showcased green technologies and services including hydrogen and ammonia production; hydrogen storage, green and renewable methanol production; electrification, battery and solar power; containerisation innovation; and logistics.
Austrade Singapore senior trade and investment commissioner Kirstyn Thomson said the market briefings, roundtable discussions and site visits provided insights into regional demand for maritime decarbonisation solutions.
“The energy transition will be a defining factor of the Australia-Singapore, and Australia-Malaysia, relationships for the next decade,” she said.
“This opportunity to bring business and policymakers together to discuss practical issues and solutions was timely.
“There are strong opportunities for Australian-based businesses. Austrade and Australian companies are focused on developing business relationships with partners in Singapore and Malaysia.”
The maritime decarbonisation mission is part of the Australian government’s Southeast Asia Business Exchange program.
The program aims to increase two-way trade and investment between Australia and Southeast Asia.
