Singapore port authority chief looks to bright future with Panama Canal
2012 04 02
- Details
THE collaboration between Panama and Singapore has been strong following a Free Trade Agreement signed between the countries in 2006, said Singapore's Maritime and Port Authority chief executive Lam Yi Young to the Panama Chamber Shipping luncheon at the Club Union-Salon Bahia in Panama.
The nations, each located in strategic waterways of the canal and the Malacca Straits, can benefit from continuing collaboration in the future, said Mr Lam.
Its latest development in Pasir Panjang Container Terminal to be completed in a few years will add a further 14 million TEU in capacity to a total 50 million TEU at Singapore port, Mr Lam added.
The MPA's signing of memorandums of understanding (MoU) with both PSA Corporation and Jurong Port to co-fund research into new port technologies and green technologies has seen a joint investment of S$32 million (US$25.46 million) in research and development.
It also launched Maritime Singapore Green Initiative which comprises three voluntary programmes - the Green Ship Programme, Green Port Programme and the Green Technology Programme to incentivise companies to adopt energy efficient ship designs to reduce CO2 emission and sulphur and nitrogen oxides at port
Along with its status as a global player in the offshore and marine engineering industry, Singapore boasts more than 5,000 maritime companies employing around 170,000 people and contributing to about seven per cent of Singapore's GDP.
Its role with the Maritime Outreach Network (MaritimeONE) has promoted industry awareness in seminars, student outreach events and scholarships.
MPA established the Singapore Maritime Institute (or SMI) last year in collaboration with other government agencies with its first major project to launch next month in a global competition in Next Generation Container Port Challenge. The aim is to solicit innovative ideas on how to design and operate future container terminals with the winner to gain a US$1 million cash prize.
Source Shipping Gazette - Daily Shipping News
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