MPA Awards Grant for Two LNG Bunker Vessels
- Business & Finance
The Maritime and Port Authority of Singapore (MPA) has awarded SGD 6 million (USD 4.5 million) to FueLNG and Pavilion Gas for the construction of two LNG bunker vessels in an effort to help promote ship-to-ship LNG bunkering in Singapore.
FueLNG and Pavilion Gas will each receive a co-funding grant of up to SGD 3 million for their respective LNG bunker vessel.
Slated for delivery in 2020, the vessels will be amongst the first of their kind in Asia, according to MPA.
“This is a significant step towards cementing Singapore’s position as a leading LNG bunkering hub in the Far East, catering to large ocean-going LNG-fuelled vessels,” MPA said.
“LNG is a viable marine fuel solution to meet global environmental regulations such as the International Maritime Organization’s (IMO) 0.5% global sulphur cap from 1 January 2020. As the world’s largest bunkering hub, we are pleased to support the building of the first two LNG bunker supply vessels for the Port of Singapore. We look forward to the successful applicants contributing to the growth of ship-to-ship LNG bunkering in the Port of Singapore,” Andrew Tan, Chief Executive of MPA, commented.