Trade is at heart of agreement. File Image / Pixabay.
Sourcing green marine fuels forms part of a shipping agreement struck between Singapore and Australia.
The revelant government departments of the two states are to co-operate on establishing "low and zero-carbon fuel supply chain and the take up of green marine fuel sources" as part of a wider initiative to develop low-carbon shipping services, according to a Maritime and Port Authority of Singapore statement.
As well as green bunker fuels, co-operation will extend to digitalising port operations and paperless handling between Australia ports and Singapore to "ensure interoperabiity across the relevant systems".
The MPA hailed the move as "a significant step" by Singapore and Australia to set them on the path to "a global leadership role in optimising their shipping routes to test and trial green and digital solutions".
A free-trade agreement already exists between the two states and a digital economy agreement was signed by in 2020.
Singaporean exports to Australia were worth over $10 billion of which two thirds were refined petroleum products in 2021. Australia exported $7.5 billion worth of goods to Singapore in the same year, according to statistics from the OEC website.