India & Singapore To Sign Pact For Green Digital Shipping Corridor

India and Singapore will soon be signing a Letter of Intent (LOI) for a Green Digital Shipping Corridor (GDSC) to strengthen maritime cooperation.

This will integrate India’s maritime sector with the global shipping network through Singapore’s well-developed maritime ecosystem.

The LOI is expected to be signed during Singapore Maritime Week (SMW), which will be held from March 24 to 28. India’s Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, will lead a delegation to the event.

The Maritime and Port Authority of Singapore (MPA), the host of SMW, has organised the gathering to bring together top maritime leaders, policymakers, and industry experts.

Per reports, Teo Eng Dih, Chief Executive of MPA, has stated that Singapore is considering the establishment of an LOI with India. However, discussions are still ongoing, and the final details have yet to be confirmed.

The Green Digital Shipping Corridor is expected to strengthen maritime trade connections between India and the global shipping industry.

Singapore, also known as one of the world’s leading shipping hubs, will play an important role in facilitating this partnership.

Meanwhile, India aims to expand its reach in green fuel exports, including biofuels, and share its digital expertise with global maritime partners.

The proposed GDSC will focus on making shipping more sustainable and eco-friendly while improving trade efficiency between both countries. India will have a strong presence at SMW through the ‘India Pavilion.’

Participants will include the Indian Ports Association, Cochin Shipyard, and Indian Maritime University, along with several major Indian shipyards like Chowgule Shipyard, Swan Defence and Heavy Industries, San Marine Shipyard, Garden Reach Shipbuilders and Engineers, Synergy Ship Builders, and L&T Shipyard.

Maritime ministers representing Estonia, France, Netherlands, Norway and Portugal will also participate in the event.

References: knnindia, tribuneindia

Source: Maritime Shipping News