Press Release4: The Castor Initiative – the multinational coalition consisting of MISC Berhad (MISC), Lloyd’s Register (LR), Samsung Heavy Industries (SHI), MAN Energy Solutions (MAN), the Maritime and Port Authority of Singapore (MPA) and Yara International ASA (Yara) welcomes a new partner – Jurong Port to the global partnership that is committed to make zero emission shipping a reality.
This announcement follows another key project milestone in September 2021 when LR awarded Approval in Principle (AiP) to SHI for its ammonia fuel supply and fuel storage system. SHI had earlier received an AiP in September 2020 for its ammonia-fuelled tanker design.
With Jurong Port, a provider of best-in-class multipurpose port services as the Castor Initiative’s latest partner, the multinational coalition will now have an even wider and diverse circle of maritime expertise to ensure and support the complete ecosystem required for their ammonia-fuelled tanker to operate sustainably on water. True to its firm commitment to reduce total carbon footprint, Jurong Port is home to the world’s largest port-based solar power generation facility as well as the world’s first green berths.
Jurong Port Chief Executive Officer, Mr. Ooi Boon Hoe, said: “We are delighted to be part of The Castor Initiative, which is determined to take concrete steps to meet IMO 2050 targets through the development and deployment of ammonia-fuelled ships. As actions by the shipping industry in meeting the decarbonization goals are gaining momentum, we recognize that there could be multiple pathways for future marine fuels. Being the operator of the busiest bunkering terminal in the world’s largest bunkering port today, Jurong Port is keen to facilitate the adoption of such future marine fuels, including Ammonia, by providing suitable supporting bunkering infrastructure. We look forward to contributing to the success of The Castor Initiative and reinforcing Singapore as the world’s leading bunkering hub.”
MISC President and Group CEO, Datuk Yee Yang Chien, said: “We welcome Jurong Port to The Castor Initiative. The Castor Initiative is privileged to have another strategic enabler be part of our multinational alliance as we journey together to commercialize the development of our first ammonia-fuelled tanker by 2024. It is without a doubt that Jurong Port’s diverse expertise and rich legacy of commercial success will be key to the sustainable operations of deep sea zero carbon emission vessels for the industry. We look forward to establishing further concrete industry milestones with all our partners as collaboration is a must and we hope that the Castor Initiative will inspire others to join forces to work together seamlessly to accomplish the industry’s GHG aspirations ahead of 2050.”
Nick Brown, LR CEO said: “The collective drive to decarbonise the maritime sector is gaining momentum and deep-sea zero-carbon vessels will be in operation by the middle of the decade. Collaboration among the Castor Initiative partners on an ammonia-fuelled tanker continues apace and we are delighted that Jurong Port has joined our development project and will support our efforts to deliver technically viable and safe zero-emission shipping.”
“We warmly welcome Jurong Port to join the Castor Initiative, our ambitious collaboration to make the zero-carbon deep-sea vessel operation reality. With regard to the industry coalition for the zero-carbon shipping, we believe that the final piece of the jigsaw puzzle will be completed with the participation of Jurong Port. We also expect that the performance of our partners’ collective efforts will be further strengthened by the expertise of Jurong Port for future fuel bunkering including ammonia,” said Jin Taek Jung, SHI President and CEO.
Brian Østergaard Sørensen, Vice President and Head of R&D Two-Stroke Business at MAN Energy Solutions, said: “MAN Energy Solutions is very happy to work with a broad variety of industry partners and to take advantage of their expertise on our mutual path to decarbonisation. More than ever, this Initiative’s commitment to decarbonising the maritime economy through developing an ammonia-fuelled tanker seems timely and we look forward to be working with Jurong Port in this respect.”
“We welcome Jurong Port coming onboard. As the operator of one of the largest bunkering terminals, Jurong Port brings with it valuable experience and expertise. As maritime decarbonisation requires a global approach, it is critical for projects like the Castor Initiative to involve stakeholders across the entire value chain. Jurong Port’s participation will enable us to test the port infrastructure and processes required to handle future marine fuels, including ammonia. This will enable the global shipping industry to work towards the International Maritime Organization’s 2050 targets for emissions reduction,” said Ms Quah Ley Hoon, Chief Executive, MPA.
“We recognize the need for collaboration through the whole value chain in order to make zero-emissions shipping a reality, by using ammonia as a fuel. We are therefore delighted to have Jurong Port join the Castor Initiative. Their expertise will add value to the existing collaboration within this initiative and will ensure a more complete approach toward the first ammonia-fueled tanker becoming a reality by 2024,” said Murali Srinivasan, Senior Vice President & Commercial Head of Yara Clean Ammonia.
To meet the International Maritime Organization’s (IMO) 2050 ambitions on halving greenhouse gas (GHG) emissions from 2008 levels, zero-carbon vessels need to enter the world fleet by 2030.
The Castor Initiative was motivated by the partners’ shared belief that the maritime industry needs leadership and greater collaboration if shipping is to meet the IMO’s GHG ambitions. While ammonia is one of the fuels being considered by maritime stakeholders, the partners also recognise that the shipping industry will need to explore multiple decarbonisation pathways and hope their collaboration will spur others in the maritime industry to join forces on addressing this global challenge.