Singapore's GCMD to Work With Gard on Maritime Decarbonisation

by Ship & Bunker News Team
Thursday November 24, 2022

Singapore's Global Centre for Maritime Decarbonisation is set to work with insurance provider Gard on projects around maritime decarbonisation.

The two organisations have signed an impact partnership agreement committing to five years of collaboration, the GCMD said in an emailed statement on Thursday.

Gard's role will be to assess and quantify the risks involved in the decarbonisation technology pilots and trials arranged by the GCMD, and to provide hull and machinery and protection and indemnity insurance coverage for the projects.

"As a leading marine insurer, we want to support the industry in the journey towards decarbonisation," Rolf Thore Roppestad, CEO of Gard, said in the statement.

"We all have our role to play in this transition, and ours is to provide the support and risk mitigation needed to make it happen.

"We want to support our Members and clients as they test and implement new technologies, and look forward to working together with the Global Centre for Maritime Decarbonisation in this regard."

Singapore has rapidly stepped up its involvement in the decarbonisation of shipping in the past two years, with 2021 seeing its first biofuel bunker sales and this year seeing a significant push on biofuel sales. Singapore will see a trial methanol bunkering of a Maersk container ship early next year.