Beyond Horizons
Trailblazing Tales from Asia
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
Events
SAF Congress APAC 2024
I am thrilled to share that I will be speaking at SAF Congress APAC 2024, happening from November 4 to November 6.
Join over 250 senior-level professionals and 80 expert speakers as we delve into discussions on sustainable aviation fuel and aviation decarbonization. Don’t miss this chance to be part of critical conversations that will drive innovation and sustainability in our industry!
Learn more about the event here.
Airline Economics Growth Frontiers Asia Pacific
Registration is now open for the Airline Economics Growth Frontiers Asia Pacific, happening from November 4 to 6, 2024, at The Ritz-Carlton, Millenia Singapore.
This event brings together industry leaders and experts to discuss the latest trends and opportunities in aviation. Attend informative panel discussions, presentations, and the Aviation 100 Asia Pacific Awards.
Learn more about the event here.
Read
AI in Space Technologies: A Singapore Case Study
A new report examines the integration of artificial intelligence (AI) with space technologies in Singapore, emphasizing its impact and potential. Insights from five experts across public, private, and academic sectors reveal that AI can enhance space and Earth sustainability and bridge global data gaps through equatorial data collection. Recommendations include prioritizing climate data collection to improve forecasts and contribute to global climate datasets, enhancing responses to regional environmental challenges.
Easy Access Rules for Small Category VCA
The European Union Aviation Safety Agency (EASA) has released its first Easy Access Rules for small category VTOL-capable aircraft (VCA). The document provides comprehensive, user-friendly guidelines for managing these aircraft, featuring a clear layout with links and bookmarks for easy navigation. Available for free on the EASA website, it can be downloaded as a PDF or in XML format for machine readability. Created via the eRules platform, the document will be regularly updated to reflect ongoing changes and developments.
Integration of Powered-Lift: Pilot Certification and Operations; Miscellaneous Amendments Related to Rotorcraft and Airplanes - Final Rule
The Federal Aviation Administration (FAA) has issued a final rule establishing qualifications and training requirements for pilots and instructors operating powered-lift aircraft—a new category that combines features of airplanes and helicopters.
The rule addresses operational standards, including minimum altitudes and visibility requirements, ensuring the safe integration of these aircraft into U.S. airspace. It also allows for single flight controls in training and uses a performance-based approach for certain operational rules, adapting some helicopter regulations for specific flight phases.
The rule completes the regulatory framework for introducing powered-lift operations in the near term, complementing previous Federal Aviation Administration initiatives like the Urban Air Mobility blueprint.
Access the rule here.
Honeywell’s 2024 Global Business Aviation Outlook
Honeywell's 33rd annual Global Business Aviation Outlook projects up to 8,500 new business jets, valued at $280 billion, to be delivered over the next decade. Regional insights reveal that North America will see 66% of new deliveries, while Europe’s share is 13%. Latin America is expected to account for 10% of deliveries, boosted by improved economic conditions. The Asia Pacific will represent 7%, and the Middle East/Africa will make up 3%.
Regarding sustainability, the survey indicates that European operators are leading in carbon reduction efforts. Acquisition of new, fuel-efficient aircraft is deemed the most effective way to lower environmental impact, though only 60% of operators are actively pursuing this strategy. Sustainable aviation fuel (SAF) is also being considered, but cost and availability are significant barriers to its wider adoption.
Central Bank Digital Currency and the Future of Digital Money in Australia
Australia's Treasury and the Reserve Bank of Australia (RBA) have published a three-year roadmap addressing the future of digital money. The joint paper, titled “Central Bank Digital Currency and the Future of Digital Money in Australia,” indicates that while there is no strong public interest case for a retail central bank digital currency (CBDC), a wholesale CBDC could enhance the efficiency and transparency of wholesale financial markets.
Summary
Financing & Investments: OCBC First Bank in Singapore to Enable Intraday Lending with Blockchain; China Eases Foreign Investment Rules in Stock Market; Saudi Arabia and Hong Kong Launch $1 Billion Investment Fund; Transdigm Group Invests $8.5 Million in Sri Lanka for New Aviation Facility; Lufthansa Technik to Invest Over €1 Billion in Global Expansion; Vingroup Launches $150 Million VinVentures Fund to Support Tech Startups; Clime Capital Invests in Indonesian Solar Developer; Singapore Eyes Global Finance & Technology Network to Boost FinTech Sector; Singapore Launches Grad Innovation Program to Foster Deep Tech Startups; and Indonesia and CATL Launch $1.2 Billion Battery Production Venture
Environmental Sustainability: Malaysia Partners with Petronas to Develop SAF from Palm Oil Waste; DS Dansuk Co. Signs $750 Million SAF Supply Deal with Phillips 66; Jeju Island Begins Commercial Sales of Green Hydrogen; FuelCell Energy and KHNP Join Forces for Hydrogen Initiatives; AirAsia to Implement Mandatory Carbon Fee from January 2025; EVA Air and Airbus Form Partnership to Enhance SAF Adoption; Fiji Airways Partners for SAF Study; China Unveils Guidelines to Boost Renewable Energy Usage
Aviation: Christchurch Airport Expands Freight Capacity with Fulton Hogan Partnership; Singapore Expands Air Services Agreements with Five Countries; COMAC Expands Internationally with New Offices in Singapore and Hong Kong; AOT Launches Biometric Identification System for Passengers; India Cracks Down on Tax Breaks for Irish Aircraft Lessors; and China Eastern Unveils C919 Commercial Operation System at Aviation Forum
Advanced Air Mobility: Joby Aviation and Toyota Demonstrate eVTOL Aircraft in Japan; Manta Aircraft and Shenyang Aviation Industry Group Partner to Develop Hybrid-Electric eV/STOL Aircraft ANN Plus; and EHang Partners with CAFUC to Address UAV Talent Shortage in China
Artificial Intelligence: Hong Kong Launches Policy for Responsible AI in Financial Services; Toyota and NTT Partner to Create Zero Traffic Accident Society; and AI Adoption Lag Leaves Asian Financial Institutions Vulnerable to Financial Crime
Marine: Maersk Signs Bio-Methanol Deal with Chinese Firm for Cleaner Shipping; South Korea Conducts First Methanol Bunkering SIMOPs at Busan Port; Australia's Maritime Sector Receives $70 Million Green Investment; and Japan and Egypt to Enhance Suez Canal Cooperation
Space: Japan Develops World's First "Space Digital Twin" of ISS Module; Fleet Space Partners with Rio Tinto for Lithium Exploration in Argentina; Titans Space Partners with Space Port Australia for Reusable Spaceplane Development; and Chinese Spaceship Docks with Space Station as New Crew Takes Over
Financing & Investments
Singapore
OCBC Bank has become the first bank in Singapore to offer intraday institutional lending using blockchain technology. This capability is facilitated through reverse repurchase agreements (reverse repos) on J.P. Morgan’s Digital Financing platform, allowing OCBC to lend cash and receive tokenized securities as collateral.
💡The blockchain enables nearly instantaneous transactions, a significant improvement over traditional repo processes. OCBC completed its first reverse repo on October 11, 2024, with a maturity of under 120 minutes. On the same day, it also executed its first intraday repo as a cash borrower. Both transactions were conducted in US dollars, with euro-denominated options available as well.
China
Beijing has reduced capital requirements for foreign strategic investors in China’s stock market, effective December 2. New regulations allow investors with at least $50 million in proprietary assets or $300 million in assets under management to invest in A-share companies. This is a decrease from previous thresholds of $100 million and $500 million.
For the first time, individual investors meeting these criteria can also make strategic investments, defined as holding stakes for long-term returns. Additionally, the lock-up period for foreign strategic investors has been cut from three years to 12 months.
💡The change follows a $4 trillion increase in the yuan-denominated A-share market since mid-September. Despite this growth, concerns about the market's stability persist, with traders awaiting further fiscal support. Currently, foreign access to the A-share market is limited, primarily through the Qualified Foreign Institutional Investor (QFII) scheme and Stock Connect programs, which have quota restrictions.
Saudi Arabia-Hong Kong
Saudi Arabia's Public Investment Fund (PIF) and the Hong Kong Monetary Authority (HKMA) have signed an agreement to create a $1 billion joint investment fund, focusing on sectors like manufacturing, renewables, fintech, and healthcare. The initiative aims to localize Hong Kong and Greater Bay Area companies in Saudi Arabia, creating skilled jobs and fostering economic growth.
💡The agreement, signed at the Future Investment Initiative summit, is the largest bilateral deal of the event, exceeding a $300 million fund announced earlier with Saudi Arabia's Beta Lab. Hong Kong and Saudi financial regulators will also collaborate on cross-border listings of financial products, with plans for staff training exchanges to strengthen ties.
USA-Sri Lanka
American engineering firm Transdigm Group has invested $8.5 million in Sri Lanka by partnering with AmSafe BirdPort to establish a new facility, ‘SHIELD’, in the Wathupitiwala Export Processing Zone (EPZ). The new factory aims to provide engineering solutions for global aviation services, shifting operations from China to Sri Lanka.
💡The investment is expected to create around 500 direct jobs for Sri Lankans.
Global
Lufthansa Technik (LHT) is set to invest more than €1 billion in the coming years, targeting growth across the Americas, Asia-Pacific, and EMEA regions. CFO Dr. William Willms stated that these investments are key to enhancing their market leadership.
💡Despite facing supply chain challenges, LHT is on pace for a record year, with revenues increasing by 13.9% to €5.5 billion and expectations to surpass €7 billion by year-end. The company has secured 523 new contracts this year.
Vietnam
Vietnam’s Vingroup has launched the VinVentures capital fund, managing $150 million, to invest in high-impact technology startups. Founded by Vingroup’s Pham Nhat Vuong, the fund aims to strengthen the startup ecosystem in Vietnam, focusing on sectors like Artificial Intelligence, semiconductors, and cloud computing.
💡VinVentures will target early-stage startups in Vietnam, particularly those in seed and Series A funding rounds, and plans to expand to similar markets in Southeast Asia. The fund will provide not just capital but also connections within the Vingroup ecosystem for product testing and market entry.
Singapore-Indonesia
Clime Capital, a Singapore-based fund manager, announced on October 24 an investment of up to $10 million in Indonesian solar developer PT Investasi Hijau Selaras (Hijau) through its South East Clean Energy Fund II (SEACEF II).
Established in 2017, Hijau specializes in solar solutions for commercial and industrial customers and aims to expand its project pipeline to meet growing demand. The funding will support Hijau in securing additional financing for future growth while maintaining a commitment to quality, safety, and sustainability.
Singapore
The Monetary Authority of Singapore (MAS) has announced the establishment of the Global Finance & Technology Network (GFTN) to strengthen Singapore's position as a leading FinTech hub and enhance global connectivity for financial innovation. This follows a successful initial phase of FinTech growth that included initiatives like a regulatory sandbox and the promotion of artificial intelligence (AI).
💡GFTN will foster industry collaboration and support MAS in advancing dialogues on payments, asset tokenization, and AI/quantum technologies, while also scaling the Singapore FinTech Festival as a key global event.
Singapore
Singapore's Deputy Prime Minister Heng Swee Keat announced the National Graduate Research Innovation Program (National GRIP), set to launch in January 2025 with S$50 million ($37.8 million) in support. The program merges NUS’s Graduate Research Innovation Program 2.0 and NTU’s Lean Launchpad to create a comprehensive incubator that bridges scientific research and market application.
💡National GRIP aims to support 300 startup teams by 2028 and nurture over 150 spin-offs by 2030 through mentorship and access to expert networks. The 12-month program will accept participants from Singapore’s autonomous universities and A*STAR research institutes, enhancing investment readiness by collaborating with venture capitalists. It also seeks to facilitate international expansion through NUS’s global network, BLOCK713, reinforcing Singapore's position in technological entrepreneurship.
Indonesia
Indonesia has partnered with China's Contemporary Amperex Technology Co Ltd (CATL) to establish a joint venture worth $1.2 billion for battery production, aimed at enhancing its status as a global electric vehicle (EV) hub. The project, located in Karawang, West Java, targets an annual production capacity of 15 gigawatts.
The initiative aligns with Indonesia's goal to build a complete EV supply chain, leveraging its significant nickel resources to attract foreign investment. The country has already seen involvement from Hyundai, LG Energy, and other Chinese automakers in the battery sector, signaling a growing EV market in Southeast Asia.
Environmental Sustainability
Malaysia
The Malaysian government has announced a collaboration between state-owned Petronas and major palm oil producers to produce sustainable aviation fuel (SAF) from palm oil waste. The initiative, part of the 2025 federal budget, aims to support Malaysia’s large palm oil industry despite concerns over deforestation linked to palm oil production.
💡Specific production volumes and timelines remain undisclosed, but 100 million ringgit ($23 million) will be allocated for replanting initiatives, and 65 million ringgit ($15 million) for campaigns to improve the industry’s sustainability image in Europe.
South Korea
South Korea's DS Dansuk Co. has entered a 1 trillion won ($750 million) agreement with Phillips 66 to supply pre-treatment materials for SAF production over three years, starting December 2024. The contract aligns with South Korea's goal to boost SAF exports, with projected revenues between 1.02 trillion and 1.26 trillion won.
💡The partnership positions DS Dansuk as a key SAF supplier and supports the global push for net-zero targets, including the US’s aim to phase out conventional jet fuel by 205
South Korea
Starting November 1, Jeju Island will sell green hydrogen for vehicles at the Hamdeok Green Hydrogen Charging Station for 1 won per kg. This makes Jeju the first region in Korea to launch commercial green hydrogen sales, aimed at fostering a local hydrogen economy. The price is set to be competitive with diesel bus operating costs, and while green hydrogen may initially be more expensive than fossil fuels, production costs are expected to decrease over time.
💡Currently, there are 58 hydrogen vehicles registered on the island, with plans to expand public bus operations. Jeju's government is also developing a comprehensive hydrogen economy plan, anticipated to be completed by March 2025, which will support job creation and carbon neutrality efforts.
South Korea
U.S.-based FuelCell Energy has partnered with Korea Hydro & Nuclear Power (KHNP) to advance hydrogen energy projects. The collaboration aims to leverage FuelCell's solid oxide electrolysis technology alongside KHNP's nuclear power capabilities to develop innovative energy solutions. The initiative focuses on producing lower-cost, domestic clean hydrogen, which will help diversify South Korea's hydrogen supply and reduce dependence on imported fuels.
💡The hydrogen generated through this electrolysis process can be stored long-term and transported, enabling the availability of zero-carbon stored energy from renewable sources such as wind, solar, hydro, and nuclear power. Additionally, the electrolyzer can be utilized to create e-fuels for the transportation sector and produce ammonia for agricultural fertilizers, thereby supporting a broader shift towards sustainable energy and reducing carbon emissions.
Malaysia
AirAsia will introduce a mandatory carbon fee for all passengers starting January 1, 2025, as announced by Malaysia's Transport Minister Anthony Loke. The policy aligns with recent amendments to the Malaysian Aviation Consumer Protection Code, effective September 1, 2024, which require airlines to display all-inclusive ticket prices that include any carbon fees. Airlines must also refund any applicable fuel surcharges and government-imposed charges.
💡The Malaysian Aviation Commission (MAVCOM) will oversee reporting on carbon fee collections. Currently, Malaysia Airlines has a voluntary carbon fee program in place since June 2023, while AirAsia's fee will be mandatory for all passengers in early 2025.
Taiwan-Europe
EVA Air has partnered with Airbus to advance the development and integration of SAF into its operations. The collaboration was announced during a ceremony in Taipei, where EVA Air ordered 18 long-range A350-1000 and 15 A321neo aircraft. Both companies recognize SAF as essential for decarbonizing aviation and achieving net-zero emissions by 2050.
💡 Over the next two years, they will explore strategies for decarbonization, infrastructure readiness for SAF, and innovative technologies. EVA Air's commitment includes a recent passenger flight utilizing a 40% SAF blend, demonstrating its leadership in sustainability efforts. The airline’s fleet modernization is expected to cut fuel burn and CO2 emissions by up to 25% compared to older models.
South Pacific-Asia
Fiji Airways has announced a collaboration with The Fiji Sugar Corporation and Lee Enterprises Consulting to evaluate the feasibility of producing sustainable aviation fuel (SAF) in Fiji. Funded by the Asian Development Bank (ADB), the project aims to utilize local agricultural resources, particularly sugar cane and its by-products, to develop a sustainable SAF production model.
💡The study will assess various inputs, including molasses, sugar, bagasse, and biomass, for SAF production.
China
China has released guidelines aimed at increasing renewable energy use and reducing fossil fuel consumption. Issued by the National Development and Reform Commission and other government bodies, the guidelines set a target for renewable energy consumption to reach over 1.1 billion tonnes of standard coal equivalent by next year and exceed 1.5 billion tonnes by 2030.
💡The initiative seeks to enhance energy capacity for a safe and reliable renewable energy supply, with applications in various sectors, including industry, transportation, buildings, agriculture, and infrastructure.
Aviation
New Zealand
Christchurch Airport has partnered with Fulton Hogan to expand its freight aircraft parking area, doubling its freight handling capacity as part of the airport's 2040 Master Plan. The project, scheduled for completion by Q4 2025, will increase the apron size to the equivalent of six football fields, accommodating up to eight 737-sized or four larger 757 aircraft, up from the current capacity of three.
💡The expansion aims to meet rising air freight demand driven by e-commerce growth and the export of perishable goods from the South Island. The project will utilize recycled materials and low-emission asphalt, aligning with the airport's sustainability goals.
Singapore
At the ICAO Air Services Negotiation Event (ICAN) 2024 in Kuala Lumpur, Singapore signed new Air Services Agreements (ASAs) with Cuba, the Dominican Republic, Kazakhstan, Seychelles, and Switzerland.
The ASA with Cuba allows for unrestricted air services, while the upgraded ASA with Kazakhstan permits airlines to transport passengers and cargo through intermediate and beyond points without restrictions. The modernized agreements with the Dominican Republic, Seychelles, and Switzerland update older accords to improve connectivity and facilitate intermodal code-sharing.
💡With over 140 ASAs signed, Singapore aims to enhance global connectivity through ongoing liberalization efforts.
China
The Commercial Aircraft Corporation of China, Ltd. (COMAC) is intensifying its international expansion by establishing new offices in Singapore and Hong Kong.
💡The Singapore office, inaugurated on October 28, aims to enhance regional services, facilitate technical exchanges, and promote industrial collaboration. Meanwhile, the Hong Kong office, launched on October 30, will focus on aircraft support and maintenance for airlines in Southeast Asia and Belt and Road Initiative partners.
Thailand
The Airports of Thailand (AOT) has introduced an Automated Biometric Identification System using facial recognition technology, set to enhance passenger processing across six airports - Suvarnabhumi, Don Mueang, Chiang Mai, Mae Fah Luang-Chiang Rai, Phuket, and Hat Yai airports.
💡Starting November 1, 2024, domestic travelers can enroll, with international access available from December 1. Once enrolled, travelers can bypass traditional passport checks during baggage drop and boarding, streamlining their airport experience.
India
India's tax authorities are tightening scrutiny on tax benefits granted to Irish aircraft lessors, denying allowances under a tax treaty between India and Ireland. The Indian Revenue Service is invoking the Base Erosion and Profit Shifting (BEPS) Multilateral Instrument to challenge claims that the lessors are using their Irish operations primarily to evade taxes. This issue, concerning lease rentals from the 2020/21 fiscal year, is now with a tax office dispute resolution panel. The BEPS treaty's principal purpose test may lead to the denial of treaty benefits if tax avoidance is deemed a main objective.
💡Meanwhile, the Indian government is promoting the establishment of aircraft leasing businesses in India, highlighting incentives such as a ten-year tax waiver in Gujarat's IFSC GIFT City.
China
At the North Bund International Aviation Forum 2024 in Shanghai, China Eastern Airlines announced the development of a large-scale commercial operation system for its C919 aircraft. The forum, co-hosted by China Eastern and the Shanghai Airport Authority, gathered over 250 aviation professionals to discuss topics such as digital transformation and innovation in the industry.
A key highlight of the event was the signing of a Strategic Cooperation Agreement aimed at enhancing Shanghai's position as a comprehensive international aviation hub, improving passenger and cargo flow. China Eastern also launched the "Eastern E-Pass," allowing for a fully paperless travel experience, including online customs declarations.
💡In addition, the forum featured advanced technologies such as AI-powered real-time translations and AR-enabled cultural products, emphasizing the integration of digital technology with aviation and Chinese culture.
Advanced Air Mobility
USA-Japan
Joby Aviation, in partnership with Toyota Motor Corporation, recently showcased its four-passenger eVTOL aircraft in Japan, set against the iconic backdrop of Mount Fuji. Toyota, a strategic partner for seven years, recently boosted its investment in Joby to $894 million and will supply key powertrain and actuation components for the aircraft. The demonstration aimed to highlight the eVTOL’s low-noise footprint and the potential of advanced air mobility in Japan.
💡Joby’s flight aligns with Japan's commitment to fostering eVTOL technology, with additional demonstrations planned for the 2025 World Expo in Osaka.
China-Italy
Italy’s Manta Aircraft has partnered with Shenyang Aviation Industry Group to develop the hybrid-electric eV/STOL aircraft, "ANN Plus.” The collaboration will involve research and development, building two full-scale prototypes, and certification with the Civil Aviation Administration of China (CAAC). A mock-up of the ANN Plus will be unveiled at the China Airshow in Zhuhai from November 12-17, 2024.
💡The aircraft features a hybrid propulsion system and offers a range of 300 km for VTOL and up to 1,000 km for STOL operations, targeting personal mobility, business travel, and cargo transport in urban and remote areas.
China
EHang has announced a strategic partnership with the Civil Aviation Flight University of China (CAFUC) to develop a training program for operators and maintenance staff of its pilotless eVTOL aircraft. The collaboration aims to tackle the estimated shortage of up to 1 million UAV operators in China and promote sustainable growth in the low-altitude economy.
💡The partnership will leverage CAFUC’s expertise in civil aviation education and regulatory development, establishing a framework for training personnel to obtain necessary licenses for large civil UAVs. Together, they plan to launch a demonstration program to optimize licensing mechanisms and integrate academic education with vocational training.
Artificial Intelligence
Hong Kong
Hong Kong's Financial Services and Treasury Bureau (FSTB) has issued a policy statement aimed at promoting responsible artificial intelligence (AI) integration in the financial sector. The directive emphasizes the need for robust AI governance to balance innovation and regulation while mitigating risks associated with AI adoption.
To address inherent risks, the FSTB introduced a governance framework focusing on transparency, data privacy, and cybersecurity. Institutions are required to adopt a risk-based approach, ensuring accountability and preventing bias in AI models. Furthermore, the policy mandates transparency regarding AI's role in decision-making to build consumer trust.
💡In addition, the Hong Kong Monetary Authority (HKMA) has initiated a "Generative AI Sandbox" to facilitate regulated testing of AI applications.
Japan
Toyota Motor Corporation and Nippon Telegraph and Telephone Corporation (NTT) have announced a joint initiative to develop a "Mobility AI Platform" aimed at achieving a society with zero traffic accidents. The collaboration focuses on enhancing mobility through a seamless integration of AI and telecommunications technology.
💡Starting in 2025, the companies will invest 500 billion yen by 2030 to develop infrastructure that connects people, mobility, and communication. The platform will include a distributed computing infrastructure for data analysis, an intelligent communication system tailored for diverse traffic environments, and an AI framework that learns from mobility data.
Asia
A report by SymphonyAI and Regulation Asia reveals that Asian financial institutions are significantly lagging in AI adoption for combating financial crime, particularly money laundering. Only 15% of these institutions report advanced AI integration in their anti-money laundering (AML) processes, despite a rising threat, with money laundering risk events in Southeast Asia increasing by 64% since 2018.
💡The authors warn that delaying AI adoption could lead to financial losses and reputational damage. The report emphasizes the importance of strategic AI implementation and collaboration among financial institutions, technology providers, and regulators to effectively address financial crime in the region.
Marine
China
A.P. Moller-Maersk A/S has signed a long-term deal with Longi Green Energy Technology Co. for bio-methanol produced from agricultural residues at a facility in Xu Chang, China. Supply is set to begin in 2026, with full production expected by 2030. The bio-methanol from Longi is projected to reduce lifecycle greenhouse gas emissions by at least 65% compared to fossil fuels.
💡The new supply agreement complements an earlier deal with Goldwind for 500,000 tons of green methanol, increasing Maersk's total planned supply to around 750,000 tons. However, this volume still represents a small fraction of Maersk's overall fuel needs, which were nearly three million tons in Q2 2024.
South Korea
On October 4, South Korea achieved a milestone by successfully conducting its first Simultaneous Operations (SIMOPs) for ship-to-ship methanol bunkering at Busan New Port. The operation, lasting 11 hours, supplied approximately 3,000 tons of methanol during cargo unloading at Terminal 2.
💡Supported by the Busan Port Authority and led by the Ministry of Oceans and Fisheries, this initiative is part of a broader strategy to establish an eco-friendly ship fuel supply chain and enhance Busan's competitiveness in the green shipping market.
Australia
The Clean Energy Finance Corporation (CEFC) has announced a $70 million investment aimed at decarbonising Australia’s maritime sector. The funding, the first of its kind for container stevedoring operations in Australia, will support Flinders Port Holdings (FPH) in implementing electrification initiatives across seven South Australian ports. Key projects include installing solar systems, transitioning to electric vehicles, exploring all-electric cranes, and connecting berthed ships to the grid to reduce reliance on diesel fuel.
💡In 2021-22, Australia’s maritime sector emitted approximately 2 million tonnes of greenhouse gases, highlighting the need for these sustainability efforts.
Egypt-Japan
Japanese Ambassador to Egypt, Oka Hiroshi, announced plans for collaboration between the Suez Canal Authority (SCA) and the Japan International Cooperation Agency (JICA) focusing on training and technical studies. In a meeting with SCA Chairman Osama Rabie, they discussed enhancing ties with the Japanese Shipowners’ Association to explore new transit policies and marketing strategies.
💡Rabie emphasized the SCA's new services for transiting ships, including maintenance, pollution control, and maritime rescue, while addressing emerging security challenges in the Red Sea. He also shared progress on the SCA's "Green Canal by 2030" initiative, which includes waste removal services and converting guidance stations to renewable energy.
Space
Japan
JAXA has announced the creation of the world's first "Space Digital Twin," a digital replica of its ISS Kibo module. This initiative, in collaboration with SpaceData Inc., will incorporate real-time environmental data to simulate the space environment, allowing for cost-effective testing of new technologies without actual launches. The project will also recreate Int-Ball, a drone operating within Kibo, enhancing robotic simulations.
💡Despite the ISS's planned retirement in 2030, JAXA aims to boost the predictability of future projects and explore applications across various industries, including gaming and virtual tourism.
Australia-Argentina
Fleet Space Technologies has partnered with Rio Tinto to enhance lithium exploration at the Rincon Lithium Project in Argentina. Using Fleet Space’s ExoSphere solution, the collaboration will create 3D subsurface maps across 100 km² to analyze lithium reservoirs and brine structures.
💡The approach leverages real-time data and AI through a satellite network, enabling rapid, low-impact exploration. The Rincon project is expected to provide significant supplies of battery-grade lithium carbonate, essential for the energy transition. Fleet Space's ExoSphere has received accolades for its sustainability and innovation, underscoring its potential in advancing greener mining practices.
Australia-USA
Titans Space Development Corporation has partnered with Space Port Australia Pty Ltd to explore locations in Australia for manufacturing and launching its advanced reusable spaceplanes. The collaboration, formalized through an MoU, aims to identify sites with the necessary infrastructure, including long runways for horizontal take-off and landing.
💡Currently, Titans Space is scouting suitable sites in Australia while continuing its development at its Californian facility.
China
A Chinese spaceship with a three-person crew docked successfully with the Tiangong space station last Tuesday, continuing China’s efforts in space exploration. The new crew, consisting of mission commander Cai Xuzhe and first-time astronauts Song Lingdong and Wang Haoze, will replace the previous team and stay until April or May 2024.
💡The Shenzhou-19 spacecraft launched from the Jiuquan Satellite Launch Center and was declared a "complete success" shortly after its launch. The astronauts will conduct experiments, perform spacewalks, and install equipment to protect the station from space debris.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**