India has secured over 10 lakh crore investments in the maritime sector [4915f87e]. The Maritime Amritkaal Vision 2047, launched by Prime Minister Narendra Modi, aims to develop India's maritime sector and make it a global maritime hub [4915f87e]. The summit witnessed the signing of numerous MoUs and discussions on sustainable development, green ports and shipping, and the role of maritime clusters [4915f87e]. The Indian government plans to reduce GHG emissions through the use of green fuels and renewable energy-based yard equipment [4915f87e]. Additionally, the summit highlighted the importance of seafarers and India's rise in global seafarer supply [4915f87e] [32c0af60].
On the other hand, the South Korean government plans to invest $534 million over five years to enhance the shipbuilding industry [2d43ded3]. The investment will focus on new technologies, alternative fuels, and manufacturing capabilities [2d43ded3]. South Korea aims to lead in high-value ships and expand into segments such as ammonia, hydrogen, and battery power [2d43ded3]. They will also invest in autonomous shipping systems and emerging technologies [2d43ded3]. The Ministry of Trade, Industry and Energy (MOTIE) aims to capture over 80% of the next-generation shipbuilding market [2d43ded3]. The government will support training and apprenticeships to address the shortage of skilled workers [2d43ded3]. They will also invest in smart shipyards and support small and medium-sized shipbuilders [2d43ded3]. The ministry will improve the financial support infrastructure and explore developing laws to boost exports and bid winning performance [2d43ded3].
The Hong Kong government has announced an action plan to develop the city into a leading international maritime centre [2d6c0d53]. The plan focuses on key areas such as developing Hong Kong as a green and smart port, enhancing the competitiveness of its ports, developing high value-added maritime services, and strengthening the talent pool [2d6c0d53]. The action plan includes 10 strategies and 32 actions, including the development of a green shipping hub with zero carbon emissions, smart port development, and maritime digitalisation [2d6c0d53]. The maritime and port industry contributes about HK$111.8 billion (US$14.3 billion) to Hong Kong's economy and provides about 78,400 jobs [2d6c0d53]. The plan aims to enhance Hong Kong's maritime influence through Greater Bay Area and international cooperation, as well as exploring further tax concessions to attract international maritime enterprises [2d6c0d53].
The Government of Canada has also announced $9.9 million in funding to Innovate BC for the growth of B.C. technology businesses [4915f87e]. The funding will support the development and adoption of clean technologies, open up new markets, and attract talent to the province [4915f87e]. The Integrated Marketplace initiative aims to address business challenges, advance climate goals, and reduce greenhouse gas emissions [4915f87e]. The program has launched testbeds at various locations, including Vancouver International Airport and the Port of Prince Rupert [4915f87e]. The Government of Canada is committed to achieving net-zero emissions nationwide by 2050 [4915f87e].
In addition, Hong Kong's finance chief, Paul Chan Mo-po, is expected to announce measures in the budget to boost the city's income, cut expenditures, and develop new industries [5376c59b]. One of the proposals is to set up a regional green fuel bunkering center to make the maritime industry more environmentally friendly [5376c59b]. The government plans to subsidize shipowners who retrofit their ships to become more energy efficient and attain a higher carbon reduction rating from the International Maritime Organisation [5376c59b]. The government is also considering the ability to supply ocean-going vessels with greener fuel such as methanol [5376c59b]. The budget will also include measures to encourage aircraft laying over in the city to use greener fuel [5376c59b]. Additionally, the government plans to hold fireworks and drone shows at Victoria Harbour every month and revamp the daily multimedia light show at the harbour [5376c59b]. The budget speech will also announce the hosting of an international climate financing summit with Dubai's monetary authority in the autumn [5376c59b].
Canada's population has reached a record high of 41 million, driven by temporary immigration and skilled migrants [c5299f6c].
Malta's maritime industry contributes to 12% of the country's GDP. The Malta Ship Registry is the sixth largest globally and the largest in Europe. The European Union's Emissions Trading System (ETS) Directive poses a challenge to Malta's maritime sector by increasing operational costs and potentially compromising connectivity. The Maltese government is investing in infrastructure and regulatory frameworks to mitigate the impact of the ETS and maintain Malta's leadership in the maritime industry. The goal is to establish Malta as a leader in sustainable practices and clean technology. The trailer and road haulage industry also plays a central role in Malta's connectivity, with 1,300 trailers operating to and from Malta on a weekly basis. The government aims to mitigate the economic impacts of regulatory changes and ensure operators remain competitive without compromising quality or affordability. The government is committed to assisting the industry and promoting sustainability and fair working conditions. [7d7757c6]
Pakistan's Federal Minister of Maritime Affairs Qaiser Ahmed Sheikh stated that the government is working to make Gwadar Port a trade hub to boost the economy [92740641]. The government is taking measures to enhance import and export capabilities in Gwadar, including upgrading port facilities, addressing tax and duty issues, and forming a comprehensive deep-sea policy [92740641]. The goal is to attract foreign investments, create jobs, and foster local development [92740641]. The minister emphasized the importance of sustainable growth and innovation in the maritime sector [92740641].
The management agency of the Batam Free Trade Zone and Free Port (BP Batam), Riau Islands, and Malaysia's Johor Bahru government have strengthened bilateral ties to enhance economic cooperation between the two regions [5c51eac3]. The two parties discussed increasing connectivity between the two regions, with a focus on developing a Roll-on/Roll-off (Ro-Ro) ship route between Batam and Johor [5c51eac3]. The opening of the Ro-Ro route is a priority as it is expected to boost the economies of both regions [5c51eac3]. Batam is also planning to build a new terminal at the Batam Center Point International Ferry Terminal to facilitate travel between Batam and Johor [5c51eac3]. The meeting results will be forwarded to relevant agencies in Malaysia to accelerate infrastructure development in Batam and Johor [5c51eac3].
Sixteen ship registries are participating in Posidonia 2024 to showcase their innovations and competitive strategies. Challenges include sanctions compliance, fleet monitoring, and enforcement of IMO instruments. Leading international flags like the Liberian Registry and Marshall Islands Registry have agreements for the exchange of information to prevent flag hopping. Financial pressures and shifting markets have led to abandonments and lax compliance with safety regulations. Flag registries are introducing initiatives in digitalization and blockchain to streamline processes and enhance security. They are also focusing on green issues and emphasizing environmental compliance and sustainability strategies. International cooperation between flag registries, port authorities, and maritime bodies is another area of focus. The following flag registries are exhibiting at Posidonia 2024: Bahamas Maritime Authority, Barbados Maritime Ship Registry, Cayman Registry, Croatian Register of Shipping, Cyprus Shipping Deputy Ministry, Hong Kong Shipping Registry, International Merchant Marine Registry of Belize (IMMARBE), IRI / The Marshall Islands Registry, Liberian Registry, Maritime Malta, Guinea Bissau, Palau International Ship Registry, Panama Maritime Authority, San Marino Ship Register, Sierra Leone Maritime Administration, St. Kitts & Nevis International Ship Registry, and Virgin Islands Shipping Registry.
The Marintec Innovation Conference 2024 will take place on December 12-13 at the Shanghai Renaissance Zhongshan Park Hotel. The conference will focus on the theme 'New Energy and Fuels Contribute to Low-carbon Maritime' and will consist of three sessions: Review and Outlook, Sailing Efficiency (Shipowner's Perspective), and Industry-Chain Support. The Norwegian Business Association China (NBA) will participate in the conference for the first time, showcasing Norway's efforts in the green maritime sector. The conference aims to foster collaboration, knowledge sharing, and advancements in the maritime industry.
The MEP National Network's Supply Chain Optimization and Intelligence Network (SCOIN) is a two-year pilot program launched in June 2023 to kick-start supply chain efforts across the United States [c4d83210]. The program, authorized by the CHIPS and Science Act of 2022, awarded a total of $20 million to MEP centers in each state and Puerto Rico [c4d83210]. The initiative aligns with SCOIN's goals of mapping manufacturing supply chains, enhancing supplier scouting services, reducing supply chain vulnerabilities, revitalizing regional manufacturing ecosystems, and connecting OEMs with SMMs [c4d83210]. The MEP National Network, in collaboration with the Oklahoma Manufacturing Alliance and the Texas MEP center, conducted supplier scouting work to identify capable suppliers for Topsoe's facility [c4d83210]. The initial scouting resulted in 300 prospective companies from 38 states, which were narrowed down to 35 companies from 14 states for the request for quotation (RFQ) stage [c4d83210]. The MEP National Network, along with local MEP center staff, is conducting site visits to evaluate supplier readiness and offer services to fill gaps and strengthen their value [c4d83210].
Ocean Power Technologies (OPT) has been selected as the preferred supplier for a PowerBuoy equipped with Merrows, its artificial intelligence (AI) capable maritime domain awareness solution, for an immediate delivery opportunity in the Middle East [02b1fd08]. The contract, once finalized, will generate revenues in the current quarter [02b1fd08]. OPT had previously announced the completion of engineering for Merrows in hot climates [02b1fd08]. Philipp Stratmann, CEO and President of OPT, expressed excitement about growing their PowerBuoy business in the Middle East and believes the region offers many opportunities for Merrows [02b1fd08]. The details of the contract are confidential [02b1fd08].