Over $3M given to boost R&D on greener marine fuels

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In Singapore, the Maritime and Port Authority of Singapore set aside S$5 million (about $3.6 million) to co-fund research and development on cleaner marine fuel alternatives, including biofuel and methanol, in hopes of reaching the International Maritime Organization’s target of reducing carbon emissions by 50 percent by 2050.

Senior Minister of State for Transport and Health, Lam Pin Min told Business Times that this will go towards meeting the International Maritime Organization’s target of halving carbon emissions by 2050. The MPA has already invested S$26 million to kick-start liquefied natural gas (LNG) bunkering in Singapore, according to Business Times, but LNG only cuts carbon emissions by about 25 percent.