A collaborative industry consortium initiated by the Lloyd’s Register (LR) Maritime Decarbonisation Hub, the Silk Alliance Members Present Vision for Green Shipping Corridor Cluster. Participants of the Silk Alliance, a collaborative industry consortium initiated by the Lloyd’s Register (LR) Maritime Decarbonisation Hub, have jointly issued an open statement outlining their collective aspirations for establishing a green shipping corridor cluster.
This innovative initiative, praised as an exemplary model of cross-industry collaboration within the maritime supply chain, is designed to enhance transparency and accountability in the development of the green corridor cluster. The shared document introduces an implementation plan, complete with key milestones and actions to be accomplished before the end of the current decade, with the overarching goal of expediting the transition to zero-emissions shipping in the Indian and Pacific Oceans, according to Sam Chambers of Splash 247.
The comprehensive implementation plan emphasizes practical applications, including the deployment of vessels powered by near-zero-carbon ammonia and methanol fuels, the establishment of scalable fuel supply infrastructure, and avenues for adopting bio and synthetic methane. The initiation of this plan commences with three immediate milestones. Initially, members will define the path of the green corridor and design its progressive expansion.
By early 2025, Silk Alliance members will evaluate which fuel pathways to advance from the initial pilot project phase, taking into account their carbon intensity. The third milestone focuses on financial aspects, aiming to address investment challenges and formulate financing mechanisms to kickstart the initiative. The plan outlines the essential steps necessary for having pilot vessels operating on near-zero carbon fuels by 2027. By pooling demand for alternative fuels through pilot vessels powered by low carbon methanol and ammonia, Silk Alliance members intend to attract investments for expanding the infrastructure for alternative fuel supply, both in Singapore and along the intra-Asia container trade route from 2028 to 2030. These fuels are anticipated to contribute to the growth of the broader regional bunkering market.
The achievement of these milestones hinges on the collective efforts of Silk Alliance members, coupled with the collaborative support of stakeholders throughout the maritime value chain. The implementation plan is expected to evolve and be updated as the initiative advances. The Silk Alliance comprises a diverse range of stakeholders across the maritime supply chain, with recent additions including the Maritime Port Authority of Singapore and fuel producers. The alliance remains committed to strengthening its engagement with both the public and private sectors as it works toward its objectives.