SINGAPORE - Global mining giant BHP and Dutch-based GoodFuels have signed a letter of intent to collaborate on a biofuels pilot project in Singapore, with the support of the Maritime and Port Authority of Singapore (MPA).
The project is expected to be carried out early next year, said MPA in a statement on Thursday (Sept 21).
The signing of the letter of intent took place at an inaugural biofuel roundtable organised by the three parties to drive discussions on the use of biofuels as a sustainable alternative fuel for the future of shipping.
The closed-door roundtable event saw shipowners get together to share insights on the use of biofuels to meet increasingly stringent environmental regulations, as well as explore areas of collaboration.
"The roundtable comes at an opportune time in light of the International Maritime Organisation's (IMO) 0.5 per cent global sulphur cap on marine fuels which will come into effect from 2020, as well as IMO's longer term plan to lower carbon emissions for shipping," said MPA chief executive Andrew Tan.
As the largest bunkering hub in the world, Singapore is working towards providing cleaner alternative sources of fuel to cater to the future energy needs of the global shipping industry.