Ladies and gentlemen,
1. Good afternoon and thank you for joining us at the unveiling ceremony for the exciting new development, ‘The WAVES’.
2. As we have heard over the course of Singapore Maritime Week, the maritime sector is going through a period of transformation and growth. How does ‘the WAVES’ contribute to this, and what does ‘the WAVES’ stand for? First, we want to build a Waterfront for All – “W” and “A” – an inclusive space with areas for the public to learn about the maritime sector and foster a closer affinity with the sea. The “V” refers to the “V” in Innovation, which is essential for transformation. The “E” stands for Enterprise and the entrepreneurial spirit we need to turn ideas into reality. Finally, as the maritime industry decarbonises, Sustainability will be a key area of focus.
3. So there you have it, “W, A, V, E, S”. Waterfront for All, innoVation, Enterprise, and Sustainability. We aim to bring all these functions together at the WAVES . It will be the focal point of maritime innovation and decarbonisation in Singapore, housing research institutes, start-ups, accelerators and incubators in a single location on the waterfront. When ready by end-2025, ‘The WAVES’ will support Maritime Singapore to capture new opportunities, by building the 3 ‘C’s – connectivity, capabilities, and careers.
Building Connectivity
4. First, on connectivity. Singapore is the world’s largest container transhipment port, and the top international maritime centre. Connectivity is our lifeblood, and the maritime sector keeps the arteries of global trade flowing. Our future growth depends not just on physical connectivity, but digital connectivity as well. This will require the development and implementation of new solutions for the maritime sector, leveraging on maritime technology, or “MarineTech”.
5. PIER71™ is a collaboration between MPA and NUS Enterprise, which supports entrepreneurs from ideation to implementation. It connects start-ups with the whole MarineTech ecosystem – including demand drivers, technology partners and investors. As its name suggests, PIER71™’s co-working space is at BLOCK71 within LaunchPad at one-north, an entrepreneurial and innovation hub and home to an ecosystem of start-ups, incubators, accelerators and venture capitalists. PIER71™ start-ups have developed solutions for critical issues faced by the maritime industry. Many of them have layered digital connectivity on physical connectivity.
6. For example, Singapore-based logistics start-up Portcast, a finalist of the 2018 Smart Port Challenge, developed predictive visibility for global container movements. This enables freight forwarders and manufacturers to achieve real-time supply chain visibility, reducing operational costs and improving customer experience. The company is scaling up its solutions and expanding internationally.
7. PIER71TM and other start-up ecosystem players are prospective tenants at ‘The WAVES’. The new space will support our goal to grow the number of MarineTech start-ups by five-fold in five years, from 30 in 2021 to 150 in 2025. ‘The WAVES’ will provide entrepreneurs and start-ups with more co-working spaces and capacity to host seminars and workshops. This co-location will facilitate also cross-pollination of ideas across the innovation community, boost the development of new solutions, and further entrench our position as a connected and innovative maritime hub.
Building Capabilities
8. Second, ‘The WAVES’ will enable us to build the maritime sector’s capabilities, specifically in maritime decarbonisation. Last month, we launched the Maritime Singapore Decarbonisation Blueprint. The Blueprint laid out ambitious targets and key strategies to reduce emissions from our port terminals and harbour craft, and to do our part to decarbonise international shipping and meet the International Maritime Organization’s sustainability goals.
9. This is not going to be easy, but a key priority will be in R&D, to develop, trial, and deploy viable and scalable green technologies and fuels. Recognising the current technological gap and Singapore’s strengths as a maritime and research hub, we established the Global Centre for Maritime Decarbonisation (GCMD) last year.
10. MPA and its private sector partners have provided a total of $155 million to shape standards, deploy solutions, and foster collaboration across sectors. GCMD awarded its first invitation for proposals to study ammonia bunkering safety in January this year, and will be carrying out trials and demonstrations after the completion of the study.
11. ‘The WAVES’ will be equipped with a suite of end-to-end testing facilities for decarbonisation projects under GCMD, including berths along the waterfront to facilitate ship-to-shore testing. That is why it is so important for the facility to be near the waterfront.We will provide R&D centres, particularly those that specialise in green technologies, with facilities to conduct live demonstrations and enable companies to showcase their latest technologies.
12. The waterfront will also be accessible to the public, who will be welcomed to view these activities at the berths. This is part of making it a “Waterfront for All”, helping us to attract more young people, giving them an interest in maritime. ‘The WAVES’ will also be home to the Singapore Maritime Foundation and Singapore Maritime Institute, which link the public sector with industry and the research community.
Building Careers
13. Third, ‘The WAVES’ will support the building of maritime careers for our workforce, and attract talents to work in MarineTech and decarbonisation. During the Maritime Manpower Forum this morning, I spoke about our plans to attract and nurture the maritime workforce and transform workplaces.
14. ‘The WAVES’ will provide spaces for training programmes for the maritime sector such as the Maritime Leadership Programme, which provides high-potential maritime talent with global perspectives and business networks to groom them into future leaders of the sector.
15. ‘The WAVES’ will also have a gallery that showcases the vibrancy of the maritime sector, the exciting frontiers of research as well as our rich maritime history. We have incorporated public recreational facilities into our design to bring the maritime sector closer to the public, and attract more locals to join the maritime sector. Or as our tagline goes, “Make Maritime Your Port of Call”.
Conclusion – Creating an inclusive space for the public
16. Ladies and gentlemen, Singapore may be small and young as a nation. But we have a rich maritime history and we play an outsized role in global supply chains. ‘The WAVES’ will be a waterfront landmark that showcases our maritime heritage and embodies our bold maritime ambitions.
17. ‘The WAVES’ will be an inclusive space where families and friends can gather on green spaces on the rooftop, overseeing the busy Singapore waters. It will also be an open space where the public can enjoy and feel connected to the sea. Finally, it will be a collaboration space for various communities – education, research, corporates – to come together and be inspired to push maritime frontiers together.
18. MPA is working closely with other public agencies and project partners to firm up the exact location and design for the development. We will reach out to the public for ideas on the activities and programmes that you would like to see and can be held here at ‘The WAVES’ for all to enjoy.
19. Thank you.
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