Asia/Pacific News
Singapore to Co-Fund New LNG Bunker Tankers
The Maritime and Port Authority of Singapore (MPA) is to co-fund the cost of building liquified natural gas (LNG) bunker tankers for use in the port.
The move is part of a wider package of additional funds earmarked to support the development of LNG bunkering in Singapore.
According to the MPA, S$12 million ($9m) has been set aside to aide development.
Half of the funds will contribute toward the cost of builidng new LNG bunker ships while the other half will go to top up the authority's existing LNG bunkering programme.
"With the implementation of the International Maritime Organization's 0.5% global sulphur cap on 1 January 2020, LNG is a viable and tested solution for shipowners," said MPA head Andrew Tan.
"THe MPA will support future demand 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," Tan said.
