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Mr Kuok Khoon Ean, Chairman of Kuok Group Singapore,

Distinguished Guests,

Ladies and Gentlemen, 

Introduction

1.     Good evening. It is my pleasure to join you today at the Coastal Sustainability Alliance PXO Electric Fleet Signing and MOU Ceremony.

2.     I would like to start by congratulating the Kuok Maritime Group, or KMG, and the Coastal Sustainability Alliance, led by PaxOcean, for reaching this important milestone in our maritime decarbonisation efforts.

Kuok Maritime Group’s key contributions to Maritime Singapore 

3.     KMG has been a longstanding partner and important contributor to Maritime Singapore. Its business include ship owning, chartering, and ship management activities, both in Singapore and overseas. The group operates a diversified fleet of more than 200 vessels out of its Singapore headquarters, with more than 60 bulk carriers, tankers, and offshore supply vessels flagged under the Singapore Registry of Ships. 

4.     Beyond commercial operations, KMG has built up strong innovation and technological capabilities in multiple areas including ship design, digitalisation and coastal logistic optimisation. KMG has also played a useful role in uplifting our local small and medium enterprises and start-ups through various initiatives, including the Coastal Sustainability Alliance, or CSA.

5.     I  am happy to see the growth of the CSA from its seven founding members in 2022 to 27 members today. I am also heartened to hear from Thai Yong’s earlier speech that the CSA has made good progress towards meeting electrification, digitalisation, and decarbonisation goals in building the next-generation coastal logistics ecosystem. Close collaboration between industry partners, research institutes and government agencies has been essential in the CSA’s success.

6.     Allow me to elaborate on two areas where CSA’s and KMG’s contributions have been very useful to Maritime Singapore.

Advancing harbour craft decarbonisation

7.     First, CSA has been a keen supporter of our efforts to decarbonise harbour crafts. Last year, the Maritime and Port Authority (MPA) launched three calls for Expression of Interests on the design of energy efficient and cost-competitive full electric harbour craft (these are harbour craft that run fully on electricity using batteries), charging point pilot trials, financing and insurance solutions to support the adoption of full electric harbour craft in Singapore.

8.     CSA’s e-supply vessel design was among 11 designs shortlisted for further development. CSA has also secured from Ken Energy an intent to purchase these electric vessels to supply provisions and ship spares to its fleet of bunker tankers.

9.     Beyond e-supply vessels, the CSA is working on a full electric tugboat (E-Tug) design to support the decarbonisation of larger harbour craft. This is a more demanding use-case within Singapore’s port environment as such crafts require high power and high energy for their operations.  With MPA’s support through technical inputs, regulatory advice and R&D funding, the CSA will continue to push ahead in testing the suitability of new battery technologies onboard the E-Tug. I wish the project success, and look forward to its completion.

10.    In addition to the many other examples highlighted by Thai Yong and George earlier, these R&D endeavours require the collective efforts of both the public and private sector to grow a sustainable green supply chain and maritime business ecosystem. My colleagues and I are grateful for your continued support and contributions as we work towards a brighter and greener maritime future together.

Talent attraction and workforce upgrading

11.    Second, KMG has been a strong supporter of manpower development programmes under MPA and the Singapore Maritime Foundation (SMF). A key enabler of our decarbonisation efforts is a skilled maritime talent pool and workforce comprising a strong local core, complemented by international talent.

12.    Last year, KMG’s subsidiary, Pacific Carrier Limited (PCL), contributed $1 million dollars to the Singapore Maritime Foundation’s launch of the MaritimeONE Bursary Fund. The Fund is administered by SMF in cooperation with Singapore’s Institutes of Higher Learning and awarded to young Singaporeans from lower-income families who wish to pursue a career in the maritime sector. I hope more companies can join PCL in contributing to this fund.   

13.    An active supporter of talent development, PCL has also sponsored more than 10 students under the MaritimeONE Scholarship since 2008, and mentored 13 interns since 2022 under SMF's MaritimeONE Internship Program. Together with the Tripartite Maritime Scholarships (TMSS), such programmes help attract and groom locals to become seafaring professionals. 

14.    Last year, PCL, together with Pacific International Lines, developed a maritime transformation guidebook offering practical guidance for job redesign to maritime companies. In partnership with MPA, maritime employers such as PCL have redesigned the roles of technical superintendents and vessel operators to lower entry barriers while broadening career paths. 

15.    The Singapore Government and our agencies will continue to provide our fullest support to companies and workers, as we work together to prepare Maritime Singapore for sustained growth and to overcome future challenges. 

Conclusion

16.    The CSA is a good example of collaboration within the maritime sector. The CSA has worked with government agencies, industry, and academia, to provide practical and viable sustainability solutions which overcomes challenges in business viability, and financing. Government agencies such as MPA will also play our part in the area of infrastructure provision and standards-setting, to facilitate interoperability and maintain safety of operations in these new areas. 

17.    I would like to thank CSA, the Kuok Maritime Group and everyone present this evening for your unwavering support for Maritime Singapore. Together, we can keep the spark of innovation aflame and pave the way for a more sustainable and more competitive Maritime Singapore.

18.    Thank you.