Singapore and India are exploring signing of a Letter of Intent (LoI) for a green digital shipping corridor (GDSC), which is expected to link the Indian marine sector to the global network. The letter of intent is expected to be signed during shipping minister Sarbananda Sonowal’s visit to Singapore next week.
Sonowal, Minister of Port, Shipping and Waterways, along with a delegation, is expected to attend the Singapore Maritime Week (SMW), which is being held here from March 24 to 28.
“We are thinking of establishing a letter of intent with India as a start. It is something we are still working towards,” said Teo Eng Dih, chief executive of Maritime and Port Authority of Singapore (MPA), which is hosting the weeklong maritime event.
The LoI is expected to be signed during SMW itself, but details are yet to be confirmed, MPA added.
Teo noted India is keen to export green fuel including biofuels to the region as well as sharing digital expertise.
The GDSC will link the Indian maritime sector to the global network through the Singapore maritime ecosystem, which has been rated as one of the largest shipping and marine trade hubs in the world, according to industry observers.
The SMW will also host maritime ministers from Estonia, France, Portugal, Norway and the Netherlands.
The Indian minister’s visit will be supported by Indian ports, shipyards and companies setting up an ‘India Pavillion’ at the exhibition.
The pavilion participants are: Indian Ports Association, Cochin Shipyard, Indian Maritime University, Shipyards Association of India, Swan Defence and Heavy Industries, Chowgule Shipyard, Garden Reach Shipyards and Engineers, San Marine Shipyard, Synergy Ship Builders and L&T Shipyard, according to MPA.