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.**
Watch
Lifetime Emissions from Aircraft Under a Net-Zero Budget
The International Council on Clean Transportation (ICCT) hosted a webinar titled Lifetime Emissions from Aircraft Under a Net-Zero Budget, which focused on its latest research evaluating the lifetime emissions of the current aircraft fleet and future deliveries. The discussion covered essential steps for aligning the aviation sector with net-zero pathways and highlighted key findings and their implications for aircraft and engine manufacturers.
Read
Can Early Retirement of Aircraft and with no Replacement or Replacement with Zero Tail Pipe Emission Alternatives Similarly Form Transition Credits?
The Transition Credits Coalition (TRACTION) shared preliminary insights into project-based and sectoral crediting approaches for transition credits during New York Climate Week 2024. These credits, aimed at facilitating the early retirement of coal-fired power plants (CFPPs), are part of TRACTION’s efforts to mitigate carbon emissions by replacing CFPPs with cleaner energy.
TRACTION views transition credits as a critical tool to help close funding gaps and speed up coal plant retirements, particularly in Asia’s growing coal fleet. The coalition adopts a holistic approach to ensure high-integrity credit generation, enhance transaction scalability, and build buyer trust.
A comprehensive interim report is set for release at COP29 in Baku later this year.
Access TRACTION’s observations here.
Finance for Nature Positive Discussion Paper
A discussion paper, led by UNEP FI and the Finance for Biodiversity Foundation, seeks feedback from the financial sector on a proposed Finance for Nature Positive working model. The model aims to operationalize the "Nature Positive" concept for private finance, providing definitions and practices. It aligns with the Global Biodiversity Framework (GBF) to halt and reverse biodiversity loss, focusing on both positive impact and the mitigation of negative effects on nature.
The framework aspires to guide private financial institutions in contributing to biodiversity recovery, offering immediate and actionable strategies. The co-authors hope to foster broader debates on aligning financial flows with the GBF.
For a comprehensive overview, readers can access the executive summary and working model visual.
Economic Impact of API and Bot Attacks
Imperva, a Thales company, has released a report titled Economic Impact of API and Bot Attacks, analyzing over 161,000 cybersecurity incidents to assess the rising global costs associated with insecure APIs and automated bot abuse. The report estimates that these security threats could cost businesses worldwide up to $186 billion.
Conducted by the Marsh McLennan Cyber Risk Intelligence Center, the study reveals that larger organizations are particularly vulnerable, with those earning over $1 billion facing two to three times more automated API abuse than smaller firms. The report attributes the vulnerability to the complex API ecosystems found in larger enterprises.
As businesses increasingly rely on APIs for seamless application communication, the number of managed API endpoints has surged, averaging 613 per enterprise last year. However, the growth has made APIs attractive targets for cybercriminals, with automated threats accounting for 30% of all API attacks in 2023, costing organizations approximately $17.9 billion annually.
Boeing Commercial Market Outlook 2024–2043
Boeing forecasts that passenger air traffic in Southeast Asia will more than triple over the next 20 years, with an annual growth rate of 7.2%, surpassing the global average of 4.7%. The company predicts that the region's airplane fleet will grow significantly, reaching 4,960 jets to meet rising demand for air travel.
According to the 2024 Commercial Market Outlook (CMO), airlines in Southeast Asia will expand their share of the Asia-Pacific fleet from 17% to 25%. Widebody aircraft, such as the 787 Dreamliner, are expected to account for one in five new deliveries to meet long-haul demand.
Meanwhile, the region will require over 120 new and converted freighters to support growing e-commerce and global supply chain needs, along with an estimated 234,000 new personnel—pilots, maintenance technicians, and cabin crew—to support the expansion.
Sustainability efforts will also drive the replacement of nearly 1,200 aging aircraft with more fuel-efficient models, and Southeast Asia's bio-based feedstocks could potentially supply around 12% of global sustainable aviation fuel demand.
Overall, Boeing forecasts 4,720 new aircraft deliveries in the region from 2024 to 2043, including 3,765 single-aisle jets, 920 widebody jets, and 15 freighters.
Summary
Financing & Investments: Fitch Upgrades Embraer’s Ratings, Highlighting Improved Production and Profitability; CALC Issues RMB 1 Billion Sustainability-Linked Medium-Term Notes; AirAsia X Proposes RM6.8 Billion Acquisition to Unite Aviation Operations; Infrastructure Fund Sells 74.25% Stake in Queensland Airports Limited; WMI Launches Asia Centre for Changemakers with S$15 Million Funding; and SpiceJet Secures INR30 Billion in Oversubscribed Fundraising Round
Environmental Sustainability: Australian Governments Support $368M SAF Project in Townsville; IATA to Launch SAF Matchmaker Platform in 2025; Sihanouk International Airport Achieves Level 3 Airport Carbon Accreditation; JAL and Aoba Supermarket Initiate UCO Collection for SAF; and TotalEnergies to Supply LNG to HD Hyundai Chemical
Aviation: Total Linhas Aereas Reportedly Pursues C919 Aircraft; AMETEK MRO Asia Becomes Honeywell Authorized Repair Centre for TCAS; Fokker Services Asia Becomes Embraer Authorized Service Center; SIAEP Becomes First Embraer Authorized Service Center for E-Jets E2 in Asia-Pacific; Lödige Industries Completes Expansion at Saigon Cargo Service Corporation; Vietjet and Honeywell Sign $1.1 Billion Cooperation Agreement; Boeing Signs MoU with Indonesia to Enhance Aviation Sector; and SITA Partners with AAI to Enhance Airport Operations
Advanced Air Mobility: Singapore Unveils UAS Vision at International Forum in China; ANA and JAL Drop Plans for Flying Taxi Service at 2025 Osaka Expo; EHang Completes First EH216-S eVTOL Flight in Brazil; Life Flight New Zealand Partners with AMSL Aero for Hydrogen-Electric VTOL Aircraft; and Thales and Underwood Innovation Labs Launch AAM Centre of Excellence
Artificial Intelligence: Singapore Airlines Adopts AI Tool Pathfinder for Enhanced Aircraft Management; and Singapore Anticipates Surge in LNG Demand Amid Data Center and AI Growth
Electric Vehicles: U.S. Commerce Department Proposes Ban on Chinese and Russian Technology in Connected Vehicles
Cybersecurity: MAS Launches New Cyber and Technology Resilience Experts Panel
Marine: South Korea Launches First Fully Automated Containership, POS Singapore, for International Service; MOL Invests in HIF Global to Accelerate e-Fuels Development for Decarbonization; and India to Double Container Handling Capacity to 40 Million TEUs
Space: Deep Blue Aerospace's Nebula-1 Rocket Fails During High-Altitude Recovery Test; NASA and Korea AeroSpace Strengthen Space Cooperation; ANA Holding’s Future Frontier Fund Invests in Axelspace and NearMe; and Chinese Academy of Sciences Set to Unveil Ambitious Long-Term Space Science Roadmap
Financing & Investments
Global-Brazil
Fitch Ratings has upgraded Embraer S.A.'s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) from 'BB+' to 'BBB-' and affirmed its National Scale Rating at 'AAA(bra)'. The agency has also upgraded Embraer Netherlands Finance BV's unsecured notes to 'BBB-' from 'BB+', with a stable outlook.
The upgrade is attributed to improvements in production efficiency, delivery timelines, and profitability alongside significant debt reduction. Embraer’s backlog, valued at USD 21.1 billion, positions it strongly in the commercial jet market, particularly in the U.S., where it continues to increase orders for its E2 aircraft. The company has diversified its portfolio through investments in its E2 family, KC-390, and services, with expectations for EBIT margins to rise to 6.2% in 2024. Additionally, its subsidiary, Eve Inc., is making strides in electric vertical take-off and landing (eVTOL) operations, with a backlog of nearly 3,000 units valued at USD 14.5 billion.
💡Despite some risks associated with Brazil's economic environment, Embraer’s robust liquidity and international revenue sources position it well for future growth.
China
China Aircraft Leasing Group Holdings Limited (CALC) announced that its wholly-owned subsidiary, China Asset Leasing Company Limited or CALC (TJ), has successfully issued sustainability-linked medium-term notes worth RMB 1 billion. The notes have a term of 2+N years and attracted subscriptions totaling 1.58 times, with a coupon rate of 2.7%, the lowest for the company since its last bond issuance in the first half of 2024.
💡The issuance supports CALC (TJ)'s sustainable operations and positions the company to leverage opportunities from China's 14th Five-Year Plan for civil aviation development. The notes were issued under CALC's RMB Medium Term Note Program, with CSC Financial Co., Ltd. serving as the lead underwriter.
Malaysia
AirAsia X (AAX) has announced a proposed RM6.8 billion acquisition of Capital A Berhad's entire stake in AirAsia Aviation Group Limited (AAAGL) and AirAsia Berhad (AAB). The move aims to consolidate AirAsia's low-cost carriers into a unified aviation group, enhancing financial stability. Moreover, the deal will enable the delivery of around 400 new Airbus aircraft over the next decade, strengthening AirAsia's fleet and market share while allowing for flexibility in addressing evolving travel trends across the ASEAN region and beyond.
💡Once completed, the new entity will operate seven airlines across Malaysia, Thailand, Indonesia, the Philippines, and Cambodia, providing a comprehensive range of air travel services.
Australia
The Infrastructure Fund (TIF), overseen by Macquarie Asset Management, State Super, and Australian Retirement Trust, has announced the sale of its 74.25% stake in Queensland Airports Limited (QAL) to a consortium led by KKR and the Skip Essential Infrastructure Fund. Macquarie Capital and Barrenjoey acted as financial advisers for the transaction.
💡QAL manages four airports: Gold Coast, Townsville, Mount Isa, and Longreach, servicing over 40 routes and handling nearly 66,700 aircraft movements annually.
Singapore
The Singapore Wealth Management Institute (WMI) has unveiled the Asia Centre for Changemakers (ACC), backed by S$15 million from Temasek Trust and the Philanthropy Asia Alliance. The initiative was announced at the WMI Global-Asia Family Office (GFO) Summit 2024.
💡Alongside the ACC, WMI introduced the Changemaker Impact Endeavour Fellowship (CHIEF) Programme, designed to empower funders, social entrepreneurs, and non-profit leaders to enhance their impact in creating positive change.
India
SpiceJet has successfully completed its qualified institutional placement (QIP), raising INR30 billion ($359 million) amid strong investor enthusiasm, reports Aviation Week. The QIP, which ran from September 16 to 18, received overwhelming interest, leading to significant oversubscription.
Additionally, SpiceJet will obtain INR7.4 billion from a previous funding round and has executed debt-to-equity swaps to resolve issues with lessors.
The new funding will help the airline reinstate grounded aircraft, acquire new ones, and expand into new markets, aiming to return 28 of its 36 grounded aircraft to operation.
💡Institutional investors involved in the QIP included Goldman Sachs, Morgan Stanley Asia, and Tata Mutual Fund, among others.
Environmental Sustainability
Australia
The Albanese and Miles governments in Australia has announced a partnership to develop a sustainable aviation fuel (SAF) production facility in Townsville, supported by a $368 million investment. The Australian Renewable Energy Agency (ARENA) is contributing $9 million, while the Queensland Government has allocated $5 million to the project.
The facility, backed by a consortium including Jet Zero Australia, LanzaJet, Qantas, Airbus, and Idemitsu Kosan, aims to produce around 110 million liters of low carbon liquid fuels annually by converting ethanol from agricultural waste into jet fuel.
💡The facility is anticipated to be operational by late 2025, potentially displacing 225,000 tonnes of CO2 annually and supporting Australia's climate change efforts.
Global
The International Air Transport Association (IATA) announced plans to launch the Sustainable Aviation Fuel (SAF) Matchmaker in early 2025. Revealed at the World Sustainability Symposium (WSS), the platform aims to connect airlines with SAF suppliers, streamlining the procurement process and supporting the aviation industry's goal of achieving net-zero CO2 emissions by 2050.
💡The platform will address three key areas: improving connectivity between SAF producers and airlines, providing visibility into SAF availability and characteristics, and boosting efficiency in SAF transactions. Initially focused on airlines and SAF suppliers, the platform will eventually expand to include governments and non-aviation corporate buyers.
Cambodia
Sihanouk International Airport has attained Level 3 certification under the Airport Carbon Accreditation (ACA) program, which focuses on reducing greenhouse gas emissions and engaging stakeholders. This follows the earlier Level 3 achievement of Phnom Penh International Airport.
💡The ACA has seven certification levels, with Level 5 recognizing airports that achieve net-zero direct emissions by 2050.
Japan
Japan Airlines (JAL) has teamed up with Big Rise, operator of the Shokuhinkan Aoba supermarket chain, to collect used cooking oil (UCO) from households for sustainable aviation fuel (SAF) production. The partnership is part of JAL's "Fly with Waste Oil" project aimed at reducing the aviation carbon footprint.
💡In separate news, Tokushukai Group, Japan's largest private medical group, has teamed up with IGC Holdings, Revo International, and Saffaire Sky Energy to produce SAF using waste cooking oil collected from its facilities. Saffaire Sky Energy is constructing Japan’s first large-scale domestic SAF manufacturing plant in Sakai City, Osaka Prefecture, where it will utilize the UCO as a raw material for SAF production.
South Korea
TotalEnergies has signed a Heads of Agreement with South Korea’s HD Hyundai Chemical to deliver 200,000 tons of liquefied natural gas (LNG) annually for seven years, starting in 2027. Pricing will be indexed to Brent and Henry Hub, enhancing TotalEnergies’ presence in South Korea, the third-largest LNG importer globally.
💡Gregory Joffroy, Senior Vice President for LNG, noted that the deal will secure long-term sales and lessen exposure to volatile spot prices.
Aviation
China-Brazil
According to Reuters, Brazil's Total Linhas Aereas is negotiating to purchase up to four C919 jets from China's Commercial Aircraft Corporation (COMAC), aiming to become the first airline outside Asia to acquire the aircraft. Controlling partner Paulo Almada plans a visit to COMAC in October to discuss the deal. Total seeks alternatives due to supply chain issues with Western manufacturers.
Financing talks include potential support from the China Development Bank for 80% of the aircraft's value over 10 to 12 years, with a list price of about $90 million per jet.
💡The C919 lacks certification outside China, with Total planning to seek approval from Brazil's civil aviation agency. The deal could enhance Brazil-China aviation ties ahead of President Xi Jinping's state visit in November.
Asia-Pacific
AMETEK MRO Asia has been appointed as a Honeywell Authorized Repair Centre (ARC) for Traffic Collision Avoidance Systems (TCAS) under a ten-year agreement. The partnership covers the TPA100 series for various aircraft, including A320, A330, B737, and B777 models, allowing AMETEK MRO Asia to provide comprehensive test and repair capabilities. The collaboration aims to enhance customer support globally and address the anticipated increase in repair needs.
💡The agreement marks the third partnership between AMETEK MRO Asia and Honeywell in two years.
Asia-Pacific
Fokker Services Asia, a subsidiary of Fokker Services Group, has been designated as an Embraer Authorized Service Center after finalizing a contract at the Aviation Week MRO Asia Pacific 2024 event in Singapore. The certification allows the company to offer maintenance services for Embraer's first-generation E-Jets, particularly focusing on the E190 model.
💡The certification establishes a new line of maintenance services for Embraer aircraft in the area; Airlines in Australia, India, Myanmar, Japan, and China operate Embraer’s E-Jets fleet in the region.
Asia-Pacific
Embraer has designated SIAEP, a subsidiary of SIA Engineering Company, as the first Authorized Service Center in the Asia-Pacific for maintenance, repair, and overhaul services on its E-Jets E2 family. Operating three hangars in Clark, Philippines, SIAEP has previously serviced Embraer’s first-generation E-Jets since 2017.
The collaboration complements Embraer's strategy in Asia-Pacific, where its E-Jets fleet serves airlines in multiple countries. Orders from Scoot and Virgin Australia for E190-E2 jets reflect rising demand for these aircraft.
Vietnam
Lödige Industries has successfully completed the expansion of the Saigon Cargo Service Corporation (SCSC) cargo terminal. The project involved the integration of a second Elevating Transfer Vehicle (ETV) and the addition of 150 storage positions, effectively doubling the handling capacity of the facility.
💡The recent project phase included the addition of a third and fourth level to the storage system and modernization of the programmable logic controller (PLC).
Vietnam
Vietjet and Honeywell Aerospace Technologies have entered into a $1.1 billion cooperation agreement to enhance avionics and aviation technical services for Vietjet’s modern fleet. The agreement, exchanged during a visit by Vietnam's Party General Secretary and State President To Lam to the U.S., will see Vietjet implement Honeywell's avionics and Auxiliary Power Unit (APU) maintenance programs for its new A330neo and narrow-body aircraft. The agreement also includes Honeywell Flight Efficiency solutions to monitor emissions and fuel efficiency across Vietjet's entire fleet.
💡In seperate news, Vietnamese and US companies have signed several MoUs to collaborate in energy, artificial intelligence, and data centers. For instance, PetroVietnam, Vietnam's state-oil company, partnered with Kellogg Brown & Root for energy technology transfer, while PTSC, a PetroVietnam subsidiary, entered an agreement with Excelerate Energy to collaborate on LNG. In the AI and data center sectors, Sovico Group and Supermicro also signed a MoU for joint development.
Indonesia
Boeing has signed a Memorandum of Understanding (MoU) with Indonesia's Directorate General of Civil Aviation (DGCA) to strengthen the country's aviation sector, focusing on flight safety, efficiency, and sustainability. The MoU was signed alongside the inauguration of Boeing's new permanent office in Jakarta.
💡Boeing has partnered with Indonesia for nearly 75 years, contributing over $8.5 million in charitable efforts aimed at sustainability and community development.
India
SITA is collaborating with the Airports Authority of India (AAI) to implement Smart Path technology across nine Indian airports as part of the DigiYatra initiative. The partnership introduces biometric solutions to streamline passenger flow and reduce wait times, creating a contact-free travel experience. The initiative aims to cover 90% of India’s domestic air travelers and has already served over 20 million users in 2023.
💡SITA's earlier agreement with AAI will enhance technology at 43 major airports, improving over 2,700 passenger touchpoints.
Advanced Air Mobility
Singapore
At the 3rd Civil Unmanned Aircraft Systems (UAS) Development Forum in Changchun, China from Sept 24-25, Mr. Tan Kah Han, Chief Technology Officer of Singapore’s Unmanned Systems Group, outlined Singapore’s plan to adopt advanced UAS technology as part of its Smart Nation initiative.
He detailed the Civil Aviation Authority of Singapore's (CAAS) efforts to implement Unmanned Aircraft Traffic Management (UTM) and remote identification to optimize airspace use, boost efficiency, and ensure safety. Singapore will take a phased approach, starting with foundational UTM services, eventually integrating both manned and unmanned traffic.
💡Mr. Tan stressed the importance of international collaboration to harmonize safety standards and build a secure UTM system, noting the potential social and economic benefits of UAS adoption.
Japan
ANA Holdings Inc. announced Wednesday it will not offer a commercial flying taxi service at the 2025 World Exposition in Osaka due to delays in obtaining safety certification. Japan Airlines (JAL) is also reconsidering its plans, according to news sources, making it unlikely that any of the four originally planned air taxi operators will provide commercial services at the event.
Despite this, demonstration flights will still be conducted by all four operators, including ANA's collaboration with Joby Aviation and JAL's partnership with Volocopter GmbH. Air taxis were expected to provide access to the expo's venue on Yumeshima island in Osaka Bay.
💡Japan's SkyDrive Inc. and Marubeni Corp. had already withdrawn from offering commercial flights at the expo.
China-Brazil
EHang Holdings Limited has successfully completed the inaugural flight of its EH216-S pilotless eVTOL in Quadra, São Paulo, in partnership with local operator Gohobby Future Technologies. ,
💡The EH216-S recently received an Experimental Flight Authorization Certificate (CAVE) from Brazil’s National Civil Aviation Agency (ANAC). This allows for extensive testing to establish safe UAM operations in collaboration with ANAC and the Brazilian Airspace Control Department (DECEA).
New Zealand
At New Zealand’s 2024 Aeromed Conference, Life Flight New Zealand announced a partnership with Australian manufacturer AMSL Aero to utilize the Vertiia hydrogen-electric Vertical Take-Off and Landing aircraft for aeromedical operations. Vertiia offers a range of up to 1,000 km and speeds of 300 km/h.
💡Life Flight aims to enhance its services, including transferring critical care patients.
Australia
Thales and Underwood Innovation Labs have signed a MoU to establish an Advanced Air Mobility Centre of Excellence (AAM COE) in Queensland, Australia. The center aims to develop a collaborative ecosystem for Unmanned Aerial Vehicles (UAVs), create high-skilled jobs, and facilitate safe design and testing of Remote Piloted Aircraft Systems (RPAS).
Operating as a membership-based platform, the AAM COE will provide organizations access to advanced technology and resources. Located in a rapidly growing region, it seeks to enhance technology and skills for the future workforce.
💡The initiative aligns with the Australian Government's priorities in the AAM sector and is modeled after Paris's successful CEDIF initiative.
Artificial Intelligence
Singapore
Singapore Airlines has announced the adoption of Pathfinder, an AI-driven tool developed in collaboration with KLM Royal Dutch Airlines and Boston Consulting Group (BCG), aimed at optimizing its aircraft management. Pathfinder utilizes artificial intelligence and machine learning to optimize aircraft assignments to routes, improving operational resilience, on-time performance, and overall efficiency.
💡Tan Wei Qi, Divisional Vice President of Operations Control at Singapore Airlines, emphasized that the tool will facilitate quicker, data-driven decisions, leading to reduced fuel consumption and minimized flight disruptions.
Singapore
Singapore is anticipating a short-term increase in liquefied natural gas (LNG) demand, largely driven by the growth of data centers and artificial intelligence (AI), states Singapore LNG Corp CEO Leong Wei Hung as reported by Business Times. He noted that the digital economy creates significant energy demands, but the rapid expansion of infrastructure can't keep pace with the surge.
Founded in 2009 by the Energy Market Authority, Singapore LNG operates the city-state's only LNG import terminal, with plans for a second terminal to address expected demand by the end of the decade. However, the increase in electricity consumption complicates Singapore's decarbonization efforts, as it relies on imported gas for about 95% of its electricity, and space constraints limit renewable energy development. To combat this, Singapore aims to import six gigawatts of green power from neighboring countries by 2035, which would account for approximately half of its overall energy demand.
💡 Major tech companies like Amazon and Microsoft are investing heavily in data centers across Southeast Asia, prompting the Singapore government to boost the power allocation for these facilities by up to 35%.
Electric Vehicles
USA-China-Russia
The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) has proposed a new rule to prohibit the sale or import of connected vehicles containing specific hardware and software linked to China or Russia. The regulation, published as a Notice of Proposed Rulemaking (NPRM), targets critical systems in vehicles, such as Vehicle Connectivity Systems (VCS) and Automated Driving Systems (ADS), which enable external connectivity and autonomous driving.
The proposed rule, driven by national security concerns, aims to block potential foreign adversaries from exploiting sensitive data or remotely controlling vehicles. It applies to all on-road vehicles, including cars, trucks, and buses, with exclusions for agricultural or mining vehicles. The rule would take effect for software in model year 2027 and for hardware in model year 2030.
💡Public comments on the proposed rule are open for 30 days, with feedback to be submitted through the Federal eRulemaking Portal.
Cybersecurity
Singapore
The Monetary Authority of Singapore (MAS) has launched the Cyber and Technology Resilience Experts (CTREX) Panel, expanding its focus beyond cybersecurity to include broader technology resilience. Made up of 13 global specialists in cybersecurity and technology, the panel will provide guidance on emerging technology threats and help enhance the overall resilience of Singapore's financial sector.
💡MAS Managing Director Chia Der Jiun highlighted the critical need for financial institutions to strengthen their technology resilience as they increasingly rely on digital services.
Marine
South Korea
South Korea has successfully completed the installation and testing of the world’s first containership equipped with an integrated automation system, the POS Singapore, which is now entering international service. Supported by the Ministry of Trade, Industry and Energy and the Ministry of Oceans and Fisheries, the project aims to advance and commercialize autonomous shipping technologies.
The 22,867 DWT vessel, built by Hyundai Mipo Dockyard and registered in Liberia, integrates core technologies for intelligent navigation, weather monitoring, and engine automation, with robust cybersecurity measures in place. Ordered in 2022 and delivered in April 2023, the ship is set to operate routes between Korea and Southeast Asia over the next year, focusing on testing and validating its automation systems.
With an investment of $119 million, the Korean government sees the project as a crucial step toward establishing international standards for automated shipping, in collaboration with the International Maritime Organization's MASS Code initiative.
💡South Korea aims to lead the development of maritime automation standards, building on previous successful tests conducted with other vessels.
Japan
Mitsui O.S.K. Lines, Ltd. (MOL) has announced that its subsidiary, MOL Clean Energy, US. LLC, has invested in HIF Global LLC, a company focused on developing and operating e-Fuels projects worldwide. HIF, based in Houston, aims to produce around 4 million tons per year of synthetic fuel and e-methanol using green hydrogen and recycled CO2 across the U.S., Chile, Uruguay, and Australia.
💡HIF's e-fuels and e-methanol are designed to reduce carbon emissions throughout the product lifecycle, with plans to expand into synthetic SAF (e-SAF) and chemicals. MOL’s investment builds on its March agreement to jointly develop an e-Fuels supply chain, supporting decarbonization efforts in the shipping and mobility sectors.
India
The Ministry of Ports, Shipping, and Waterways (MoPSW) plans to double India's container handling capacity to 40 million TEUs in five years, creating 2 million jobs. Key initiatives include developing shipbuilding and repair clusters in states like Maharashtra and Gujarat, establishing Vadhvan Port, and designating Galathea Bay as a major port. Additionally, over 3,900 acres at Kandla and VOC Ports will be allocated for hydrogen manufacturing hubs, advancing India’s clean energy goals
💡The Ministry will host "Sagarmanthan: The Great Ocean Conference" in November, with a focus on ocean sustainability and advancing the blue economy.
Space
China
China's Deep Blue Aerospace announced that its Nebula-1 rocket, designed to be reusable and fueled by kerosene, failed during a high-altitude recovery test in Inner Mongolia. While the rocket successfully executed 10 of its 11 objectives, including a high-altitude launch and the ignition of its three thrusters, it encountered issues during descent. The landing system malfunctioned, leading to a hard landing that resulted in the rocket's upper section breaking off and sustaining fire damage.
💡The test is part of a broader effort among private Chinese rocket companies to meet the increasing demands of the commercial space sector.
South Korea-USA
NASA and the newly established Korea AeroSpace Administration (KASA) has signed a joint statement of intent to enhance collaboration in space exploration, science, and aeronautics. The agreement, made during KASA's inaugural visit to NASA Headquarters, aims to explore potential cooperation in areas such as NASA’s Moon to Mars initiative, space life sciences, and lunar surface research.
NASA Administrator Bill Nelson emphasized the significance of expanding the partnership, highlighting the shared commitment to the Artemis Accords, which promote responsible behavior in space exploration. KASA Administrator Youngbin Yoon described the agreement as a pivotal moment for Korea's emergence as a responsible space-faring nation.
The partnership builds on ongoing efforts to track air pollution through NASA's TEMPO mission and KARI's GEMS, benefiting global environmental monitoring.
Japan
ANA Holdings has announced that its ANA Future Frontier Fund L.P. will invest in Axelspace Holdings and NearMe Inc. Axelspace, a leader in microsatellite development, operates services like AxelGlobe for Earth observation and AxelLiner for microsatellite development. ANA sees potential for collaboration in aviation and space through this investment.
NearMe, an AI-powered shared transportation company, has grown its airport shuttle service significantly, from 300,000 to 850,000 users in the past 18 months. ANA aims to enhance mobility solutions by expanding its partnership with NearMe.
💡The investments support ANA’s vision of driving innovation in aviation, space, and transportation.
China
The Chinese Academy of Sciences (CAS) is preparing to unveil a medium- and long-term roadmap aimed at accelerating its progress in space science and solidifying China's role in global space exploration. According to a paper by Wang Chi, director of the National Space Sciences Center, the plan will focus on five key scientific themes: the extreme universe, space-time ripples, solar-Earth dynamics, habitable planets, and biological and physical space science.
💡Upcoming missions like eXTP, DSL, Earth 2.0, SPO, and Taiji-2 are expected to make significant discoveries by 2030.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**