Consortium seeks to lower commercial barriers against green energy transition through quality shipbuilding, flexible financing and customer access

Cyan Renewables together with its consortium of six other partners, announced the launch of a green energy consortium to jointly design and develop electric harbour craft operations in Singapore.

Led by Cyan Renewables, the consortium comprises Bureau Veritas Marine, PSA Marine,  Strategic Marine and technology providers SeaCabbie, Sea Forrest and Victory. The consortium, formed to participate in the Maritime and Port Authority of Singapore (“MPA”)’s call for proposal to develop electric harbour craft operations, is supported by one of Asia’s largest liner shipping companies, Pacific International Lines (“PIL”).

Where green meets blue: Easing the green energy transition for maritime players in Singapore.

While Singapore targets for new harbour crafts to be fully decarbonised from 2030, the country currently lacks commercially viable solutions to enable such a transition.

The consortium seeks to ease the energy transition for Singapore’s maritime operators with a focus on quality shipbuilding, flexible financing and customer access. With members across the entire renewable energy value chain, the consortium is the first in Singapore to:

·       Enable the leasing of renewable vessels (via Cyan Renewables), thus reducing capital outlay for operators; and

·       Offer an innovative ride-hailing application for the ordering of launch boats (via SeaCabbie).

Together with decades of experience in ship building, classification, and offshore energy management, the consortium’s solution is expected to significantly lower commercial barriers and reduce carbon emissions for electric harbour craft operations.

Lee Keng Lin, Founding CEO, Cyan Renewables said, “As Asia’s first pure play renewable vessel owner, Cyan Renewables enables operators to access green maritime solutions with minimal capital outlay, significantly reducing barriers against innovation. We are confident in the consortium’s ability to ease the green energy transition for Singapore’s maritime sector and are proud to be leading this effort.”

Goh Chung Hun, Head, Fleet Division, Pacific International Lines said, “PIL is committed to support this initiative on the commercialisation of electric harbour crafts. As a Singapore home-grown shipping line and with our focus on sustainability, we look forward to engaging the consortium and contributing towards Singapore’s national climate target of achieving net zero emissions by 2050.”

Francis Tang, Commercial Director, Bureau Veritas Marine said, “BV Marine (Singapore) is absolutely honoured to join this consortium with a clear mission to develop sustainable, ecological and economically feasible solutions for Singapore’s harbour craft community. BV has been actively supporting the Singapore maritime ecosystem for many years now, and we will continue to bring along our best practices, experience and technical expertise to this excellent consortium.”

Peter Chew, CEO, PSA Marine said, “PSA Marine is keen to support the consortium’s efforts to participate in the MPA Expression of Interest to design and develop electric harbour craft in Singapore. We look forward to contributing ideas and experiences, including collaborating with like-minded partners, to reduce carbon emissions for the Singapore harbour craft industry.”

Chan Eng Yew, CEO, Strategic Marine said, “Strategic Marine through this collaboration continues to affirm our commitment and contribution as a shipbuilder towards the IMO GHG 2050 goal and Singapore’s Net Zero 2050 goals.”

Abhinav Sahai, Founder, SeaCabbie said, “SeaCabbie is excited and honoured to be a part of this consortium dedicated to revolutionizing harbour crafts both locally and globally. As the first mover in Singapore to introduce a digital booking platform for harbour crafts, we bring the right expertise to ensure a successful implementation of electric harbour craft operations.”

George Lee, CEO, Sea Forrest said, “Sea Forrest’s years of expertise in marine electric propulsion, energy storage, energy management, and charging solutions are directly relevant for the operations of electric harbour crafts in Singapore. We look forward to this collective journey to transform one of the world’s busiest port, offering cost-effective, innovative, and eco-friendly solutions.”

Maureen Chan, Director, Victory said, “We are working towards operating floating chargers to complement onshore charging. By providing electron pitstops on operational routes, we hope to extend the range for electric vessels to provide operational flexibility and route optimisation.”