Industry News

The Maritime and Port Authority of Singapore (MPA) has taken significant strides in maritime innovation by launching Singapore’s first Maritime Digital Twin and signing two Memoranda of Understanding (MOU) to advance geospatial technology. Announced during the Singapore Maritime Week 2025, these initiatives aim to improve risk management and operational planning for safer and more efficient maritime operations.

The Maritime Digital Twin, a virtual model of Singapore’s port, was unveiled on 24 March 2025. Developed in collaboration with the Government Technology Agency of Singapore (GovTech), the digital twin offers real-time vessel monitoring and underwater visualisation capabilities, showcased at the EXPO@SMW.

In addition, MPA has signed a three-year MOU with several partners, including Jurong Port and the National University of Singapore (NUS), to explore geospatial technologies. These partnerships will focus on using location-based data to create visual insights, aiding in risk management and operational efficiency. The collaboration also aims to address challenges such as sea level rise and alternative fuel bunkering.

Furthermore, MPA and NUS have agreed to develop maritime geospatial courses and a professional certification programme to build a skilled workforce in this field. This initiative will equip students and professionals with expertise in 2D and 3D mapping, geospatial analytics, and advanced modelling.

These efforts align with the Singapore Geospatial Master Plan (2024–2033), which seeks to drive geospatial innovations and address the challenges faced by Singapore as a hub port and island nation.
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Australia and Singapore have announced the selection of eight research projects to receive funding under a $20m initiative aimed at reducing emissions in the maritime sector. This effort is part of the Australia-Singapore Initiative on Low Emissions Technologies (ASLET), which supports the Green and Digital Shipping Corridor (GDSC) between the two nations, focusing on decarbonising and digitising shipping routes.

The initiative is a collaborative effort between the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia’s national science agency, and the Maritime and Port Authority of Singapore (MPA). Launched in July 2024, ASLET aims to accelerate the deployment of zero or near-zero greenhouse gas emission technologies for maritime and port operations.

The projects, selected from 32 applications, encompass a variety of innovative approaches. These include the development of hydrogen, ammonia, and methanol technologies, as well as safety and environmental monitoring systems. Notable projects include the University of Tasmania’s ammonia safety training programme and the National University of Singapore’s AI-based system for managing ammonia and hydrogen fuels.

The selected projects have attracted additional co-contributions and are expected to be completed within two years. This initiative marks a significant step towards sustainable maritime operations, with potential long-term benefits for the shipping industry.
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A recent study by International Workplace Group, the leading provider of hybrid working solutions, has highlighted the health and productivity benefits of hybrid work models. Conducted among over 4,000 hybrid workers, the study found that 36% of employees are taking fewer sick days due to the flexibility offered by hybrid work arrangements. This flexibility allows 74% of workers to prioritise preventative healthcare, such as regular screenings and lifestyle changes.

The research also revealed that 70% of hybrid workers experience fewer stress-related health issues, including severe headaches and digestive problems. Additionally, 80% of participants reported that reduced commuting time significantly lowers their stress levels, contributing to a better work-life balance and reduced anxiety.

In Singapore, mental health challenges like stress and anxiety are linked to decreased productivity, costing the economy approximately $11.8 billion (SGD 15.7 billion) annually. The Singaporean government has responded by implementing flexible work arrangements and guidelines to promote workplace wellbeing.

Dr Sara Kayat, a UK-based TV doctor, emphasised the tangible health benefits of hybrid work, stating, “By reducing the physical and mental strain of long daily commutes, workers are able to better manage their existing health conditions, access preventative care, and reduce stress.”

The study also noted that 75% of CEOs have observed increased productivity due to hybrid work, with 77% of employees becoming more engaged. As demand for flexible workspaces grows, International Workplace Group continues to expand, adding 899 new locations globally last year.
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JTC has announced the launch of three industrial sites under the first half of the 2025 Industrial Government Land Sales (IGLS) Programme, featuring an additional three-year lease tenure. The sites, located at Gul Drive, Plot 3 Gambas Way, and Tuas Road, are part of efforts to enhance the industrial land lease framework in Singapore.

The Gul Drive site, with a gross plot ratio of 1.4 and zoned for B2 industrial use, is available for tender until 20 May 2025. It is the third of seven Confirmed List sites for the first half of the 2025 IGLS Programme. Meanwhile, Plot 3 Gambas Way and Tuas Road are Reserve List sites, available for application under the Reserve List system. This system allows a land parcel to be released for sale only if it receives an acceptable minimum bid price.

The Gambas Way site spans 0.69 hectares with a gross plot ratio of 2.0, whilst the Tuas Road site covers 2.18 hectares with a gross plot ratio of 1.4. Both are zoned for B2 industrial use and offer a 33-year lease tenure. Applications for these sites can be submitted to JTC, with the Gambas Way tender closing on 30 June 2025.

These developments are part of Singapore’s broader strategy to optimise industrial land use and support economic growth. The extended lease tenures aim to provide businesses with greater certainty and flexibility in their operations. Interested parties can purchase the Tenderers’ Packet for $185.30, inclusive of GST, to participate in the tender process.
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DNV has introduced a new Recommended Practice (RP) to evaluate the performance of Wind-Assisted Propulsion Systems (WAPS) during Singapore Maritime Week. This initiative seeks to establish a reliable standard for assessing the efficiency gains of WAPS, which are increasingly seen as a viable solution for reducing fuel consumption and emissions in the maritime industry.

With approximately 50 WAPS currently in operation, these systems offer significant potential for cost savings as the industry shifts towards more sustainable, albeit costly, fuels. Johanna Tranell, WAPS Performance Assessment Lead at DNV Maritime, stated, “The new RP establishes a practical, reliable standard that helps us generate transparent, verifiable data, building trust in the potential of these systems.”

The RP employs an “on-off” methodology, engaging and disengaging the WAPS under similar conditions to measure performance. This approach, combined with independent third-party verification, provides shipowners and operators with actionable insights for WAPS installation. Hans Anton Tvete, Business Development Manager at DNV Maritime, emphasised the importance of industry collaboration, saying, “To build consensus, we need a shared understanding backed by standardised, verifiable data.”

DNV is calling on stakeholders, including shipowners, operators, technology providers, academia, and regulators, to review and provide feedback on the RP. The public hearing is open until 31 January 2025. This collaborative effort aims to ensure that WAPS solutions effectively contribute to the maritime industry’s decarbonisation goals.
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Prime Grade office rents in Singapore’s Raffles Place and Marina Bay precincts remained stable at S$11.36 per square foot per month in the first quarter of 2025, according to Knight Frank Singapore. This stability comes despite a modest year-on-year rent increase of 1.4%, down from 3.4% in Q1 2024. The occupancy rate for prime buildings rose by 1.4 percentage points to 95.0%, driven by lease renewals and a trend towards higher-quality spaces.

Overall, the Central Business District (CBD) recorded a slight dip in occupancy to 93.5%, attributed to the newly completed Keppel South Central, which has 50% of its space committed or under negotiation. Calvin Yeo, Managing Director of Occupier Strategy and Solutions at Knight Frank Singapore, noted that landlords are prioritising occupancy amid global economic uncertainties.

The demand for quality office spaces is being driven by occupiers in older buildings seeking cost-neutral options, including right-sizing and relocating to modern facilities. The adoption of AI technology is also enabling businesses to streamline operations, reducing space requirements. Yeo highlighted that “landlords continue to prioritise building occupancies in a time of uncertainty.”

Despite a tentative economic outlook, Singapore remains an attractive commercial hub. Notable developments include Coller Capital’s new office in Marina Bay Financial Centre and The Great Room’s upcoming 36,000 square foot workspace in Shaw Tower.

Looking ahead, Singapore’s GDP growth is expected to slow in 2025 due to global trade tariffs and corporate retrenchments. With limited new office supply, Knight Frank anticipates prime rental growth to range between -1% and 2% for the year.
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Trust Bank has unveiled Trust Lock, a pioneering anti-scam tool designed to enhance security and convenience for its customers. Unlike existing solutions, Trust Lock allows users to secure and unlock their funds directly through the Trust App, eliminating the need for branch or ATM visits.

Aditya Gupta, Chief Product Officer at Trust Bank, emphasised the importance of this innovation in the current scam landscape. “In a dynamic and fast-evolving scam landscape, we are committed to keeping our customers’ money safe,” Gupta stated. “With Trust Lock, we are setting a new standard in convenience and security for our customers.”

The introduction of Trust Lock comes in response to the rising incidence of scams, with the Singapore Police Force reporting losses of at least $800 million (S$1.1 billion) in 2024. Fraudsters often exploit victims by taking control of their mobile devices through malware and phishing scams. Trust Lock addresses this by allowing customers to lock their money in Savings Pots, which can be created or added to within the Trust App. These pots remain secure even if a scammer gains control of the user’s device.

Unlocking funds is equally straightforward, requiring only a login to the Trust App, a tap of the Trust card on an NFC-enabled phone, and entry of a personalised Trust Key. Funds can be withdrawn 12 hours after unlocking, providing an additional layer of security.

Trust Lock represents a significant advancement in the fight against financial scams, offering a blend of security and user-friendly access that sets it apart in the market.
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Singapore’s Central Business District (CBD) Grade A office rents have experienced a modest 0.5% increase quarter-on-quarter (QoQ) to SGD 11.60 per square foot in the first quarter of 2025, according to JLL Research. This marks the fourth consecutive quarter of growth below 1%, the longest period of such modest variation since JLL began tracking this data. The subdued growth is attributed to ongoing global economic challenges, including trade conflicts and geopolitical tensions.

The vacancy rate for CBD Grade A offices rose to 8.1% following the completion of Keppel South Central. Dr Chua Yang Liang, Head of Research and Consultancy for JLL Southeast Asia, noted that the stability in rents is due to a balance of demand and supply factors in the post-COVID market. “Whilst demand exists, it remains moderate due to ongoing market volatility,” he said.

Andrew Tangye, Head of Office Leasing and Advisory for JLL Singapore, highlighted the “flight to quality and location” as a key driver of office demand. With IOI Central Boulevard Towers nearing an 80% commitment level, demand is expected to spill over to new developments. Keppel South Central has secured Manulife as its first anchor tenant, with nearly 50% of its space committed or under negotiation.

Looking ahead, JLL projects positive office space demand due to supportive government policies and interest from international firms. Dr Chua added that new office space supply is expected to be constrained between Q2 2025 and 2027, supporting moderate rent growth. Meanwhile, the office investment sales market saw a typical seasonal lull in Q1 2025, with no en bloc transactions recorded.
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Higher-skilled job roles in Singapore, particularly in scientific research and Generative AI (GenAI), are experiencing a surge in demand, according to the latest data from Indeed’s Hiring Lab. This comes even as the total number of job postings in the country has decreased by 3.7% over the past three months.

Singapore’s job postings remain 50% above pre-pandemic levels, with significant growth in scientific research and development roles, which have increased by 35%. Other sectors witnessing notable gains include security and public safety, up by 31%, and production and manufacturing, which saw a 16% rise.

As of February 2025, job postings related to GenAI have doubled compared to the previous year. Key roles in demand include data analytics, scientific research, and software development, with Singapore now leading globally in GenAI job mentions. The country boasts a 1.2% share of job ads referencing GenAI, four times higher than in the US, UK, Canada, and Australia.

Conversely, job postings in cleaning and sanitation, childcare, and retail have seen significant declines, dropping by 33%, 19%, and 18% respectively. This trend aligns with the Ministry of Manpower’s recent report, which noted a decline in employment within lower-skilled sectors.

Callam Pickering, APAC Senior Economist at Indeed, remarked, “There’s reason to be optimistic about Singapore’s employment outlook despite the month’s mixed results. Higher-skilled roles remain in high demand, with Singapore standing out globally, especially in gen AI and data-related roles.” He emphasised the importance of continuous skills development to maintain competitiveness in the evolving job market.
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FairPrice Foundation (FPF) has announced a groundbreaking initiative, the Protein Pledge, committing $1 million worth of fresh protein to nutritionally vulnerable groups in Singapore by 2030. Over the next five years, FPF will partner with local charities and community organisations to distribute fresh protein, primarily in the form of eggs, to seniors, low-income families, and migrant workers across the island.

The Protein Pledge is part of FPF’s broader strategy to enhance food security for the needy, informed by findings from “A Full Plate,” a recent study on Singaporeans’ food habits. The study revealed a preference among low-income individuals for fresh protein over processed foods typically provided in donation programmes.

Vipul Chawla, Group CEO of FairPrice Group and Board Member of FairPrice Foundation, emphasised the initiative’s focus on bridging the nutrition gap for vulnerable communities. “Through the Protein Pledge, we want to help bridge the food and nutrition gap for those in need by improving their access to fresh protein, a critical part of any healthy diet,” he stated.

To date, 18 charity and community partners, including Lions Befrienders and the Migrant Workers’ Centre, have joined the initiative for 2025. FPF plans to distribute fresh eggs to over 46,000 beneficiaries throughout the year. This initiative builds on FPF’s previous efforts, such as distributing 45,000 eggs in June 2024 and providing nutritious breakfast bundles to students.

Organisations interested in participating can visit go.fpg.sg/protein-pledge for more information.
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