Industry News

The Maritime and Port Authority of Singapore (MPA), CMA CGM Group, and Singapore LNG Corporation (SLNG) have signed a Memorandum of Understanding (MOU) to explore the use of liquefied bio-methane as a marine fuel in Singapore. The agreement, signed by the chief executives of the three organisations, aims to leverage their combined expertise to develop supply pathways and infrastructure for this sustainable fuel option.

The collaboration will focus on utilising existing gas infrastructure to support the supply of liquefied bio-methane for maritime use. The partners will conduct pilots and trials to assess the feasibility of integrating bio-methane with natural gas, ensuring its sustainability attributes are maintained. This initiative is expected to enhance Singapore’s multi-fuel bunkering capabilities and contribute to the maritime industry’s decarbonisation efforts.

MPA’s Chief Executive, Ang Wee Keong, highlighted the significance of the partnership, stating, “This partnership will help us explore how we can support the supply and use of liquefied bio-methane as a lower-emission marine fuel.” CMA CGM’s CEO for Asia Pacific, Bo Wegener, emphasised the need for collective action in shipping decarbonisation, whilst SLNG’s CEO, Leong Wei Hung, noted the importance of bio-methane in supporting both maritime decarbonisation and Singapore’s energy transition.

The initiative underscores Singapore’s commitment to sustainable maritime practices and positions the city-state as a leader in developing alternative marine fuels. The findings from this collaboration could pave the way for broader adoption of liquefied bio-methane in the shipping industry, aligning with international environmental standards.

Universal Vapor Jet Corporation (UVJC), a subsidiary of Universal Display Corporation, has launched NovaJet, the first commercial system based on its Universal Vapor Jet Printing (UVJP) platform. Developed in Singapore, NovaJet is designed to assist materials scientists, process engineers, and manufacturers in evaluating advanced materials and developing deposition processes across various industries.

NovaJet deposits functional materials directly onto substrates such as silicon wafers, glass, polymers, and metals. This capability supports the development of next-generation technologies in semiconductors, electronics, and advanced manufacturing. The system enables precise, solvent-free deposition without the use of solvents, masks, or conventional lithography, streamlining workflows and offering flexibility for process exploration.

Chandran Nair, CEO of UVJC, stated, “NovaJet is the first commercial realisation of our Universal Vapor Jet Printing platform. It provides a highly flexible platform for advancing new materials and accelerating the path towards commercial production.”

The system is currently being showcased at the WESEMiBAY Semiconductor Ecosystem Conference and Expo in Shenzhen, China. Following this, UVJC plans to present NovaJet at global industry events, including the 2026 MRS Autumn Meeting & Exhibit in Boston.

NovaJet is particularly suited for applications requiring precise, solvent-free deposition, such as semiconductor packaging, solar technologies, and biomedical applications. By facilitating the transition from laboratory research to scalable manufacturing, NovaJet aims to accelerate the commercialisation of advanced materials.

Singapore’s economy is poised for robust growth in the third quarter of 2026, driven by strong performances in manufacturing and finance, according to a report by UOB Global Economics and Markets Research. The report highlights that monthly activity indicators up to August have remained resilient, with Non-Oil Domestic Exports (NODX) and Non-Oil Re-exports (NORX) showing significant year-on-year increases of 24.6% and 45.3%, respectively, bolstered by AI-related advancements.

The manufacturing and wholesale trade sectors, which contribute approximately 34-35% to the nation’s GDP, are expected to expand at a healthy pace. This growth is supported by firms drawing down inventories to meet new orders, with replenishment anticipated to further boost electronics manufacturing. The finance and insurance sector, accounting for 13-14% of GDP, also remains robust, with commercial banking loan growth accelerating to 14.3% year-on-year in July and August.

However, the report notes a slowdown in the transport and storage sector, with softer air cargo tonnage and port container throughput. Consumer-facing sectors such as retail and food and beverage have also contracted, but their impact on overall GDP growth is limited due to their smaller contribution.

UOB projects a 1.4% quarter-on-quarter seasonally adjusted growth and a 5.2% year-on-year increase for the upcoming third-quarter GDP estimates, expected on 14 October. Assuming a below-trend growth in the fourth quarter, the full-year GDP growth for 2026 is anticipated to reach 5.5%, surpassing UOB’s earlier forecast of 5.0%. The bank plans to review its projections following the release of the third-quarter estimates.

The Maritime and Port Authority of Singapore (MPA) has announced the Early Adopter Scheme for Electric Harbour Craft (EASE), set to commence on 1 January 2027. This initiative is designed to accelerate the adoption of electric harbour craft (e-HC) and support the development of a competitive ecosystem for these vessels. The grant aims to stimulate early market demand, encouraging manufacturers and technology providers to invest in production and expand capacity.

Singapore’s harbour craft sector, consisting of over 1,600 primarily diesel-powered vessels, is a key component of the nation’s marine services. In alignment with Singapore’s climate targets, the sector is expected to achieve net-zero emissions by 2050. From 2030, all new harbour craft in Singapore must be fully electric, capable of using B100 biofuel, or compatible with net-zero fuels.

The EASE grant, valid for two years, will provide financial support for part of the battery system cost of eligible e-HC. The grant amount will be determined by battery capacity and capped based on vessel size, with a maximum of $250,000 per vessel. To facilitate the transition, MPA will also expand charging infrastructure, with new chargers planned for key locations such as Jurong Port and West Coast Pier by 2027.

MPA is also exploring flexible charging solutions and additional regulatory measures to further decarbonise the sector. As the market matures, these efforts are expected to enhance the operational resilience of e-HC and drive the transition away from fossil fuels.

The Maritime and Port Authority of Singapore (MPA) and Enterprise Singapore have introduced a new Singapore Standard and two Technical References to bolster fuel quality assurance in the bunkering industry. Announced at the Singapore International Bunkering Conference and Exhibition (SIBCON) 2026, these standards are designed to support Singapore’s transition to a multi-fuel future.

The new Technical Reference 148:2026 focuses on ammonia bunkering, providing a framework for safe and efficient operations. This includes guidelines for custody transfer, bunkering procedures, and personnel competency. MPA will collaborate with the Pilbara Ports Authority under the Singapore-Australia Green and Digital Shipping Corridor to validate these standards through shared operational experiences.

Singapore Standard 730:2026 addresses bunker sampling of ambient liquid marine fuels, including Class F marine fuels. It aims to standardise sampling procedures and safety requirements, enhancing consistency in fuel delivery and quality assurance.

Additionally, Technical Reference 155:2026 establishes testing methods for polymers in residual-based marine fuels, improving the identification and quality assurance of these fuels.

MPA’s Chief Executive, Ang Wee Keong, emphasised the importance of evolving bunkering standards to accommodate a wider range of marine fuels. Choy Sauw Kook, Director-General of Enterprise Singapore, highlighted the role of standards in maritime decarbonisation, ensuring safe and consistent adoption of new fuels.

These standards are available for purchase from the Singapore Standards eShop, reinforcing Singapore’s position as a global bunkering hub.

Singapore’s ambitious plan to import 9.25 gigawatts (GW) of low-carbon electricity is encountering significant delays, with none of the approved projects reaching financial close or beginning construction. According to Wood Mackenzie, imports will constitute just 15% of the nation’s electricity generation by 2035, a stark contrast to the Energy Market Authority’s (EMA) goal of 6 GW.

The EMA’s import scheme is crucial for Singapore, which relies heavily on natural gas for up to 95% of its electricity and lacks space for large-scale renewable energy projects. The 6 GW target is a key component of Singapore’s decarbonisation strategy, intended to meet about one-third of projected demand.

Malaysia has emerged as the only viable corridor for delivery within this decade, with the existing Malaysia-Singapore HVDC interconnector providing up to 1 GW of capacity. In August 2026, EMA approved 900 megawatts (MW) from Johor, with projects involving Sembcorp Utilities and Ditrolic Energy. However, full delivery may require additional infrastructure, which is still under feasibility study.

Indonesia, holding 37% of the approved pipeline, faces regulatory hurdles, including a five-year renewal requirement for export permits and a 40% local content mandate. These challenges hinder long-term project financing and development.

Other regions, including Vietnam, Cambodia, and Australia, remain at the Conditional Approval stage with no construction timelines. These projects are unlikely to contribute significantly to Singapore’s imports before the late 2030s.

The final challenge for all corridors is price competitiveness. Imported electricity must compete with Singapore’s domestic energy prices and include a carbon tax. A certificate framework for carbon benefits is still in development. “No project in the pipeline has cleared all three hurdles yet,” said Wei Han Tan, a research analyst at Wood Mackenzie.

Singapore’s ambitious AI transformation plans are facing significant hurdles, with 69% of firms failing to meet their AI goals, according to Autodesk’s latest State of Design & Make 2027 report. Despite 75% of businesses believing in AI’s transformative potential, escalating costs and fragmented digital infrastructure are stalling progress.

The report highlights that Singapore companies lag behind the global average by 9 percentage points in achieving AI objectives. The primary barrier to digital transformation is cost, cited by 51% of businesses, up from 43% last year and significantly above the global average of 37%. Additionally, 37% of firms report a lack of technical knowledge and time as obstacles to digitalisation.

Demand for data analytics skills has surged, becoming the top hiring priority for 49% of local businesses, reflecting the need for robust data foundations. “With AI becoming table stakes for modern businesses, finding the right AI applications is only half the equation,” said Haresh Khoobchandani, Vice President, Asia Pacific, Autodesk. “Building robust, connected digital foundations to support these engines of growth is equally vital.”

Only 9% of Singapore firms qualify as ‘Pacesetters’, leading in digital maturity and AI adoption. These companies, like RSP Architects Planners & Engineers, leverage data-driven approaches to enhance operational efficiency. As Singapore aims to become an AI hub, the focus is on creating interconnected environments where AI can operate safely and effectively.

Seatrium Limited has renewed its multi-year agreement with Carnival Corporation, the world’s largest cruise operator, extending a strategic partnership that began in 2010. Under the Favoured Customer Contract, Carnival Corporation will dock several cruise vessels at Seatrium’s facilities until 2029, covering its eight renowned cruise lines.

The agreement highlights Seatrium’s capabilities in delivering complex cruise ship maintenance, upgrades, and retrofit solutions. Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, stated, “Carnival Corporation has been a cornerstone of Seatrium’s cruise business journey, and our first strategic partner in the highly sophisticated cruise segment back in 2010.”

Scheduled works include maintenance on the Royal Princess, Carnival Luminosa, and Seabourn Encore in the fourth quarter of 2026. The contract ensures certainty of repair slots for Carnival Corporation whilst providing Seatrium with capacity optimisation opportunities.

Vera Lannek, Vice President of Strategic Sourcing and Machinery Lifecycle Management at Carnival Corporation, praised Seatrium’s “strong technical expertise, reliable execution, and commitment to quality and safety.”

Seatrium, Asia’s leading provider of cruise vessel repairs and upgrades, has serviced over 442 cruise vessels since 1978. The company continues to support Singapore’s position as a premier global cruise hub, leveraging its engineering expertise and world-class facilities. This renewed partnership underscores Seatrium’s role in the global cruise industry, offering innovative and sustainable solutions.

Aedge Group Limited has completed the acquisition of a freehold commercial property at 2 Westerhout Road, Singapore, for S$7.5m. This marks the company’s first venture into commercial real estate, expanding its portfolio beyond industrial assets. The property, located in the Geylang/Eunos precinct, offers a land area of approximately 297.4 square metres.

The acquisition aligns with Aedge’s strategy to diversify revenue streams and enhance shareholder value through its investment properties division. As a freehold asset, the property is not subject to lease decay, ensuring long-term capital value. Its corner-plot configuration provides potential for redevelopment and asset enhancement, subject to necessary approvals. The purchase was financed through a mix of internal resources and bank borrowings.

Executive Chairman and CEO of Aedge, Poh Soon Keng, stated, “2 Westerhout Road is our first commercial property, broadening our investment properties portfolio beyond industrial assets. Freehold commercial properties of this kind are rare, and we believe the purchase price represents an attractive entry point relative to recent comparable freehold transactions in District 14.”

The strategic location of the property, near the Paya Lebar commercial hub, offers potential for future value enhancement, including redevelopment opportunities. Concurrently, Aedge is advancing plans to repurpose another property at 219 Kallang Bahru to meet the Group’s evolving needs.

This acquisition underscores Aedge’s commitment to actively growing and managing its property portfolio, positioning itself for future growth in the real estate sector.

Huttons Asia has announced the sale of a commercial building located at 45 Middle Road, Singapore, through an expression of interest (EOI) exercise, with a guide price set at S$80m. The six-storey property, boasting a 999-year leasehold tenure from 1835, spans approximately 25,493 square feet, translating to about $3,138 per square foot.

Situated in the vibrant Beach Road-Bugis precinct, the building offers a unique opportunity to acquire a substantial asset in a tightly held market. The property’s prominent frontage along a two-way street enhances its visibility and potential for building naming and signage. It is surrounded by notable landmarks such as Raffles Hotel, National Gallery Singapore, and Suntec City, and is conveniently accessible via Bugis, Bras Basah, and City Hall MRT stations.

Yeo Khee Liang, Associate Senior Marketing Director at Huttons Asia, highlighted the property’s strategic location and potential for adaptive reuse. “This is a well-timed opportunity where site scarcity converges with major district rejuvenation plus evolving URA planning policies for hospitality use,” he stated.

The building is not subject to Additional Buyer’s Stamp Duty or foreign ownership restrictions, making it an attractive proposition for investors. Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, noted the potential for renovation and repositioning, suggesting uses such as office space or hospitality. The EOI exercise will conclude on 7 December 2026 at 3:00 PM.