COASTAL SUSTAINABILITY ALLIANCE ADVANCES IN EFFORTS TO BUILD A NEXT-GENERATION COASTAL LOGISTICS ECOSYSTEM WITH 11 NEW MEMBERS SUPPORTING ELECTRIFICATION, DIGITALISATION AND DECARBONISATION GOALS

The Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime, has formalised the addition of 11 new members today at Singapore Maritime Week 2023’s MarineTech Conference, graced by Guest of Honour Mr Chee Hong Tat, Senior Minister of State, Ministry of Finance & Ministry of Transport. The contributions from the new members will accelerate CSA’s efforts to electrify, digitalise and decarbonise Singapore’s coastal vessels, strengthen marine supply chains and build Singapore’s next-generation maritime ecosystem.

The new CSA members include Ampotech, Columbia Ship Management Singapore, Green COP, Ken Energy, RMS Marine & Offshore Service, M1, MagicPort, Singapore Institute of Technology (SIT), Sinwa Singapore, ST Engineering, and Swift Total Logistics. This brings the CSA to 18 members since its formation in March 2022.

Collectively, CSA’s strategies actively contribute to the goals set out by the Maritime and Port Authority of Singapore (MPA) to achieve net-zero emissions by 2050. The Alliance is also working closely with the MPA to comply with regulatory requirements and infrastructure standards to ensure compatibility and support a collaborative maritime culture and ecosystem.

Mr Tan Thai Yong, Chief Executive Officer, PaxOcean and Chairperson, CSA Council, said:
“We are excited to mark the Coastal Sustainability Alliance’s first anniversary with the addition of 11 new members and to advance our efforts to electrify and build Singapore’s next-generation coastal ecosystem conclusively. In this one year, we have reached a significant milestone in the commercialisation of our PXO electric supply vessel, which will be the first and largest local design-build-and-deployed boats to be in operation in Singapore. Such achievements are only possible through the united efforts of our current and new CSA members and with the strong support of the Maritime and Port Authority of Singapore, Enterprise Singapore, and Workforce Singapore.”

Mr Teo Eng Dih, Chief Executive, Maritime and Port Authority of Singapore, said: “Maritime decarbonisation requires the collective efforts of the entire value chain. It is heartening to know that 11 new members have joined the Coastal Sustainability Alliance on the journey to achieve net-zero emissions for the sector by 2050. We will continue to work with like-minded partners such as the Coastal Sustainability Alliance on the design and development of green solutions for the domestic maritime craft sector.”

The new alliance members will help the CSA accelerate its multi-stakeholder efforts across its five strategic areas:

CSA’s Multi-Stakeholder Approach to Decarbonising the Maritime Industry

The new 11 members will join CSA pioneers A*STAR, GenPlus, Jurong Port, Sea Forrest Power Solutions, Technology Centre for Offshore and Marine Singapore (TCOMS) and TES. The CSA is expected to invest over S$20 million into various sustainability efforts over the next ten years with the aim of a 50% reduction in vessel carbon emissions and 20% in marine traffic by 2030.

The CSA was launched in March 2022 by Kuok Maritime, comprising PaxOcean Holdings Pte Ltd, Pacific Carriers Limited (PCL) and POSH (PACC Offshore Services Holdings). KSL’s Centre of Excellence Engineering R&D anchors the CSA initiatives, providing a comprehensive platform for the CSA to build the next-generation of Singapore’s maritime ecosystem and accelerate the decarbonisation, electrification and advancement in energy-efficient logistics and engineering solutions.

Looking into its second year, Mr Tan added, “With our multi-stakeholder approach, the CSA remains at the forefront of Singapore’s decarbonisation efforts in the maritime sector. Our coherent and systematic strategy provides our members with the assurance of a strong and progressive pathway which meets both business and environmental demands. We welcome interested parties to join us on this journey to create a more sustainable maritime industry.

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About Kuok (Singapore) Limited and Kuok Maritime

Kuok (Singapore) Limited (KSL) is an investment holding company with interests in maritime activities, agrisolutions, property and equity investments in various listed companies. KSL was founded in 1948 and has since grown into a Group with a multi-billion asset base. KSL shares a common heritage with two other

holding companies, namely Kerry Holdings Limited in Hong Kong and Kuok Brothers in Malaysia, in that they were all founded by the Kuok family. The subsidiaries under KSL include but not limited to PACC Offshore Services Holdings (POSH), Pacific Carriers Limited (PCL), PaxOcean Group, AllGreen Properties, Agrifert Group and K2 Data Centres. The Group will continue to build on its legacy and bring entrepreneurial spirit, heart and ambition to businesses in Asia as it innovates for the future.

Kuok Maritime group of companies of PaxOcean Group (PaxOcean), Pacific Carriers Limited (PCL), PACC Offshore Services Holdings (POSH), Pacific Workboats Pte Ltd (PWPL) and KSL Maritime Ventures (KMV) serves the maritime value chain from provision of offshore maritime and subsea support services, shipping and transportation, newbuilding to supporting start-ups offering technological and innovative solutions to the industry. The group is also a leader in the Coastal Sustainability Alliance in Singapore, working with like-minded industry partners to build a sustainable next-generation maritime ecosystem, accelerating decarbonisation efforts through vessel electrification, advancements in engineering solutions and coastal logistics optimisation. With a clear focus on maintaining the highest safety standards and anchored in bringing leading-edge, innovative services and solutions to the industry, Kuok Maritime Group is committed to creating a sustainable environment for the entire maritime value chain.

About PaxOcean
A subsidiary of Kuok Singapore Limited, PaxOcean owns and operates five shipyards located in Singapore, China and Indonesia. First established in 2007 in Singapore, PaxOcean offers a wide range of services covering newbuilding, module fabrication, green recycling, repairs and conversion of conventional and renewable energy assets.
For more information, visit www.paxocean.com.