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.**
Announcement
Asia Sustainable Aviation Fuel Association (ASAFA)
I am pleased to announce the official launch of the Asia Sustainable Aviation Fuel Association (ASAFA) in Singapore, with a mission to accelerate the adoption of Sustainable Aviation Fuel (SAF) across Asia.
Supported by key industry players, including Korean Air, 1PointFive, DHL Group, and Bureau Veritas, ASAFA seeks to harmonize policies, strengthen market structures, and increase public awareness about SAF’s potential to transform aviation sustainability in Southeast Asia, South Korea, Japan, India, and China.
The association will host workshops, webinars, and field trips to foster collaboration across the SAF ecosystem and has signed an MoU with Singapore’s A*STAR to drive local innovation in SAF technology.
Through partnerships with industry and government, ASAFA aims to tackle market and policy challenges, making SAF more accessible, economically viable, and supported by an informed public across Asia.
As the founder and director of governance of ASAFA, I will oversee financing, investments, and communications, ensuring the association’s efforts are effectively supported and promoted across the region.
Please reach out if you would like to learn more or explore collaboration opportunities!
Events
Fueling Tomorrow: Asia SAF Industry Series - Webinar
Join me for the Fueling Tomorrow: Asia SAF Industry Series on December 4th, for an engaging webinar featuring DHL Group, Pertamina, and General Index. This session will explore key topics such as logistics, market transparency, and regional production in the Sustainable Aviation Fuel (SAF) sector. We will discuss collaborative strategies to scale SAF adoption and create a more efficient and transparent ecosystem across Asia.
The webinar is part of the Fueling Tomorrow series, offering industry professionals critical insights into the latest SAF trends, technologies, and market developments. Attendees can expect expert presentations, case studies, and interactive discussions on production technologies, regulatory frameworks, and investment opportunities within the Asian SAF landscape.
Don't miss this chance to engage with industry leaders and gain actionable knowledge to help shape the future of SAF.
Learn more here.
Joint ICAO/ACI/IATA Symposium on Accessibility in International Civil Aviation
The International Civil Aviation Organisation (ICAO), Airports Council International (ACI), and the International Air Transport Association (IATA) will co-host the Symposium on Accessibility in International Civil Aviation from December 2-3, 2024, in Montreal, Canada. The event will gather global leaders, governments, and advocacy groups to address air travel barriers for persons with disabilities, focusing on architectural, technological, and policy solutions. Held during ICAO’s 80th anniversary, the symposium aligns with the 2024 ICAO Year of Facilitation and aims to advance cohesive, international accessibility standards in aviation.
Summary
Financing & Investments: Pentagreen Capital Advances Green Investments Partnership to Address Climate Finance Gaps in Asia; IFC Boosts Support for Vietnam’s Green Transition with $1.6 Billion in Commitments; BlackRock, MAS, IFC, and Partners Launch Southeast Asia Decarbonization Initiative; HKMA Forms Strategic Partnership to Boost Climate Investment in Asia, Aiming to Deploy $500 Million; Indonesia and China to Sign Over $10 Billion in Business Deals; and Pakistan and AD Ports Group Sign MOUs to Boost Maritime, Rail, and Logistics Sectors
Environmental Sustainability: AAPA Leaders Discuss Future of Aviation at 68th Assembly; ADB Launches $2.5 Billion Climate Financing Facility at COP29; Karatsu Biomass Power Plant Commissioning Postponed to March 2025; Sulzer Technology Powers SAF Production in China; Bangchak and Shell Sign SAF Supply Agreement; Cathay Pacific Expands SAF Programme with New Partners; Philippines Focuses on LNG as Transition Fuel, Eyes Partnership with Norway; and Singapore to Import Low-Carbon Electricity from Australia's SunCable Mega Solar Project
Aviation: Airbus Forecasts Strong Demand for Aircraft in Asia-Pacific; ICAO's 2024 ICAN Event Secures 500 Air Service Agreements; ACCC Reports Domestic Airfares Rise After Rex’s Collapse; LifeFlight Breaks Ground on $18.5 Million Sunshine Coast Base; Rotortrade Partners with Sphere Aero to Expand Presence in Philippines and Cambodia; Spectrum Aeromed and BDMS Medevac Launch Aeromedical Training Center; China Eastern Airlines Signs $2.8 Billion in Deals at CIIE; and COMAC Secures Major Deals and Announces ARJ21 Rebranding at the 15th CIIE
Advanced Air Mobility: XPeng AeroHT Unveils Land Aircraft Carrier at Auto Guangzhou 2024, Secures Over 2,000 Pre-Orders; EHang Secures $22M Investment and Partners with Sunriver to Boost UAV and Tourism Innovations; EHang Launches UAM Hub in Hefei to Drive Low-Altitude Economy; EHang Achieves Breakthrough with Solid-State Battery Flight Test; EHang’s EH216-S Completes Passenger Flights in Thailand; SkyDrive Partners with FEAM Aero to Advance Regional eVTOL Air Mobility; and Singapore Shares UAS and AAM Regulatory Approach at Thailand Drone Symposium
Marine: South Korea to Expand Marine Protected Areas and Tackle Pollution by 2027; Hanwha Ocean Secures $51.2 Million LNG Carrier Deal; Maritime Industry Calls for Overhaul of Seafarer Training for Safe Transition to Green Fuels; China's $3 Billion Chancay Port to Strengthen Peru's Trade Ties and Belt and Road Investments; and India Aims to Be Global Maritime Leader with Sagarmala Program and New Initiatives
Space: China Launches Tianzhou 8 Cargo Mission to Tiangong Space Station; China Unveils Haolong Reusable Space Shuttle Design; ispace, GISTDA, and mu Space Partner for Thailand's Lunar Exploration; Perigee Aerospace Partners with GISTDA to Advance Thailand's Space Capabilities; and Thailand to Sign Artemis Accords, Strengthening Space Cooperation
Financing & Investments
Southeast Asia
BlackRock, MAS, IFC, Mitsubishi UFJ Financial Group, NEXI, and AIA Group have announced a collaboration to accelerate decarbonization in Southeast Asia. At COP29, they signed a statement of intent to explore a blended finance debt initiative under MAS' Financing Asia’s Transition Partnership (FAST-P). The program aims to mobilize up to $5 billion to address the region’s decarbonization financing gap, which requires increasing clean energy investments from $30 billion to $208-244 billion annually by the 2030s.
💡The initiative will focus on financing projects in hard-to-abate sectors and low-carbon technologies. BlackRock, with $170 billion in infrastructure assets, will play a leading role.
Asia-Pacific
Pentagreen Capital, the sustainable infrastructure debt financing company established by HSBC and Temasek, announced progress on its Green Investments partnership, a blended finance programme aimed at increasing the bankability of green infrastructure in Asia. The initiative, launched at COP28, seeks to deploy US$1 billion under the Financing Asia’s Transition Partnership (FAST-P), with a goal of mobilizing up to US$5 billion for energy transition projects and green infrastructure in Southeast Asia.
💡Blended finance will help bridge critical gaps in financing sustainable infrastructure projects, particularly in the early development and construction stages. The partnership will focus on sectors like renewable energy, electric vehicle infrastructure, sustainable transport, and waste management. Capital deployment is expected to begin in 2025, with support from key partners, including the Singapore Government, IFC, and ACP, alongside HSBC and Temasek.
Vietnam
The International Finance Corporation (IFC) has significantly increased its support for Vietnam’s green transition, committing over $1.6 billion in fiscal year 2024, including more than $750 million in long-term financing. Notably, $310 million of this was dedicated to climate change and marine-plastic waste projects, marking a record for Vietnam. The country received the highest volume of IFC’s own-account climate financing in the East Asia and Pacific region.
💡IFC’s initiatives also include supporting Vietnam’s first blue and green bonds, promoting sustainable financing frameworks, and advising on carbon markets and green banking. With additional investments in renewable energy, sustainable agriculture, and the green tourism sector, IFC aims to help Vietnam advance its low-carbon economy.
Asia
The Hong Kong Monetary Authority (HKMA) has teamed up with key multilateral organizations, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and the IFC, to form a strategic partnership aimed at enhancing climate investment in Asia. The partnership, which also includes support from Actis GP LLP (Actis) as one of the General Partners, plans to deploy at least $500 million in climate-focused investments across Asia. The goal is to address the urgent sustainability challenges facing the region and contribute to global climate action efforts.
💡The focus will be on sectors crucial to achieving net-zero emissions and reducing greenhouse gas emissions, such as renewable energy infrastructure, energy solutions, and sustainable transportation.
Indonesia
During a state visit to Beijing, Indonesian President Prabowo Subianto and Chinese President Xi Jinping announced that Chinese and Indonesian firms will sign business agreements worth over $10 billion. The agreements include joint ventures in fisheries, oil and gas in disputed maritime areas, and enhanced cooperation in the blue economy, water, minerals, and green minerals.
💡The two leaders also emphasized the growing strength of their bilateral ties, with China being Indonesia’s largest trading partner and a key source of investment.
Pakistan
The Government of Pakistan and AD Ports Group have signed four Memoranda of Understanding (MOUs) to explore opportunities in the maritime, air, rail, and logistics sectors. The agreements involve several key Pakistani authorities, including the Federal Board of Revenue, Ministry of Railways, Ministry of Maritime Affairs, and Karachi Port Trust.
The collaboration aims to enhance digital customs controls, develop freight rail corridors, upgrade Pakistan’s maritime fleet, and improve logistics and transport at key airports. AD Ports Group, already a significant investor in Pakistan through its partnership with Kaheel Terminals at the Port of Karachi, plans to invest nearly $400 million in the country over the next 15 years.
Environmental Sustainability
Asia-Pacific
At the 68th Assembly of Presidents in Brunei, AAPA leaders focused on ensuring aviation’s future growth, addressing sustainability, safety, and regulatory challenges. They passed resolutions supporting a multi-pronged approach to achieving net-zero emissions by 2050, with an emphasis on Sustainable Aviation Fuel (SAF) and new technologies. Aviation safety remained a top priority, with calls for improved data-sharing and collaboration. Leaders also urged governments to avoid measures that increase airline costs and disrupt travel.
💡The outlook for the Asia Pacific aviation industry remains positive, fueled by strong demand and recovery post-pandemic
Asia-Pacific
At COP29, the Asian Development Bank (ADB) launched the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), aimed at addressing climate change challenges in the region.
The facility targets $2.5 billion in guarantees, which will unlock up to $11.25 billion in climate financing. So far, commitments have been made by the United States ($1 billion), Japan ($600 million), the UK ($280 million), Australia ($200 million), and Denmark ($100 million). IF-CAP is designed to address the region’s estimated $102-$431 billion annual climate adaptation needs.
💡ADB has set a goal to allocate 50% of its financing to climate initiatives by 2030, aiming for over $100 billion in cumulative climate finance for mitigation and adaptation from 2019 to 2030.
Japan
The commissioning of the 49.9MW Karatsu Biomass Power Plant, under development by Karatsu Biomass Energy LLC, has been delayed from December 2024 to March 2025. Renova, the plant's largest shareholder, announced the postponement on November 6, 2024, citing the need for additional time to adjust the boiler and turbine equipment for stable long-term operation.
Once operational, the plant in Karatsu City, Saga Prefecture, will generate approximately 350GWh annually, using imported wood pellets and palm kernel shells as fuel. All generated power will be sold to Kyushu's grid operator through Japan's feed-in-tariff (FIT) scheme at a fixed rate, with revenues expected through 2044.
💡Renova owns 35% of Karatsu Biomass Energy LLC, alongside Toho Gas (34%), JA Mitsui Lease (16%), and INNOCENT (15%). Construction of the plant began in August 2021, with Kansai Electric Power overseeing the engineering.
China
Sulzer has been selected to provide customized pump technology for the production of SAF in Shandong, China. The facility, set to produce 500,000 metric tons of SAF annually, will help reduce greenhouse gas emissions by up to 80% compared to conventional jet fuel.
💡Sulzer’s pumps are designed to withstand high-pressure and high-temperature conditions essential for refining low-carbon feedstocks.
Thailand
💡Bangchak is constructing a SAF production facility in Bangkok, set to produce 1 million liters per day from used cooking oil, with commercial operations expected by Q2 2025.
Hong Kong
Cathay Pacific has added three new partners to its Corporate SAF Programme, enhancing its efforts to decarbonize air travel. The new partners include the Business Environment Council (the programme's first NGO partner) and two additional cargo customers, joining existing members such as AIA, Airport Authority Hong Kong (AAHK), PwC China, and Standard Chartered.
💡The airline invites more companies to join this initiative to advance its mission of becoming “Greener Together.”
Philippines
At the Norway-Philippines LNG Summit 2024, Energy Secretary Raphael Lotilla emphasized the role of liquefied natural gas (LNG) as a crucial transition fuel in the Philippines’ energy strategy. He highlighted the country’s growing reliance on LNG to secure energy security while integrating renewable sources like solar and wind. The Philippines is set to expand its LNG infrastructure, with two terminals in Batangas Bay nearing full commercial operations, providing a flexible energy solution for the nation’s power demand.
💡Secretary Lotilla also announced plans to boost domestic gas supply, including the Malampaya Phase 4 project, and urged collaboration with Norway for expertise in resource management and decarbonization technologies.
Singapore-Australia
Singapore has approved the SunCable project, which will export 1.75 gigawatts (GW) of solar electricity from Australia to Singapore via a subsea cable spanning 4,300 km. The project, expected to meet 9% of Singapore's energy needs by 2035, will help reduce carbon emissions by 6 million tonnes annually. SunCable has secured over US$170 million in investments and aims for financial closure by 2027, beginning construction thereafter.
💡The project will consist of a solar farm, energy storage, and transmission lines, and is seen as a key contributor to Singapore’s low-carbon energy future.
Aviation
Asia-Pacific
Airbus projects that the Asia-Pacific aviation sector will require 19,500 new aircraft over the next 20 years, representing 46% of global demand, which totals 42,430 new aircraft by 2043. This growth, driven by both fleet expansion and replacement needs, includes 16,000 single-aisle aircraft like the A220 and A320neo, and 3,500 medium- and large-sized long-range aircraft such as the A330neo and A350.
💡In addition to passenger aircraft, the region will need 250 new widebody freighters, with the A350F leading the charge due to its efficiency and low emissions. The region’s aviation sector is expected to grow at a rate of 4.8% annually, surpassing the global rate of 3.6%, supported by increasing demand in both passenger and cargo transport. The A350 and A330neo are central to this expansion, with the latter replacing older A330ceos.
Global
At the ICAO 2024 Air Services Negotiation (ICAN) event in Kuala Lumpur, 500 air service agreements were signed, expanding global connectivity. The event, attended by 590 delegates from 80 states, focused on new air routes, capacity expansion, and modernizing agreements. Since 2008, ICAN has facilitated over 5,000 agreements.
💡The next ICAN will take place in Punta Cana, Dominican Republic, in December 2025.
Australia
The ACCC has confirmed that domestic airfares increased by 13.3% from July to September, following the collapse of Rex Airlines. The reduction in competition, with Qantas and Virgin now controlling 98% of domestic flights, has led to higher prices. The federal government has intervened, offering $80 million in financing to keep Rex’s regional services operational and extending the voluntary administration period until June 2025.
💡Despite efforts to find a buyer, Rex's administrators have not secured a deal for its regional operations, although the aeromedical division has been sold.
Australia
LifeFlight has commenced construction on a new $18.5 million base on the Sunshine Coast, set to be the largest infrastructure project in 45 years. The 1,500sqm facility will feature three hangars and accommodate two AW139 helicopters and a Challenger 604 air ambulance jet, enhancing LifeFlight's 24-hour services across the Sunshine Coast and surrounding regions. The base is expected to be completed by late next year. Local contractors will provide 85% of the trades and materials.
💡LifeFlight's expansion follows a 19% increase in missions, aiding 600 people in FY24.
Singapore-Philippines-Cambodia
Rotortrade has partnered with Sphere Aero to enhance its offerings in the Philippines and Cambodia. Sphere Aero, with its Approved Maintenance Organization (AMO) and Air Operator Certificate (AOC) in the Philippines, will serve as a channel partner, helping Rotortrade better serve local customers.
💡The partnership will offer a comprehensive suite of services, from aircraft sales to operational support.
USA-Thailand
Spectrum Aeromed has partnered with BDMS Medevac Center to open the Aeromedical Transport Training Center at Bangkok Hospital Headquarters. The center, equipped with advanced air ambulance modules, will train medical professionals in real-time patient care during air transport.
💡The facility features carbon fiber medwalls and specialized mounts, ensuring hands-on experience for handling in-flight medical emergencies.
China
China Eastern Airlines (CEA) signed 19 procurement agreements totaling $2.8 billion at the 7th China International Import Expo (CIIE), covering areas like aircraft engines, flight simulators, and in-flight dining. Key partnerships include $10 million in catering contracts with companies like Dnata and SATS, and a major deal to import Boston lobsters from Canada.
💡As CEA’s international flight services grow, the airline continues expanding its supplier network, including agreements with Boeing and CAE to improve operational efficiency.
China
At the 15th China International Aviation and Aerospace Exhibition on November 12, 2024, COMAC secured multiple key agreements, including—
Ruijin Hospital and COMAC signed a cooperation deal to develop the C909 Medical Aircraft, enhancing air medical rescue capabilities.
CAE will provide four full-flight simulators for the C919 and C909, supporting pilot training.
Hong Kong Polytechnic University and COMAC established the Large Aircraft Research Institute to advance aircraft technology and innovation.
Colorful Guizhou Airlines ordered 30 C909 aircraft, strengthening its fleet.
Hainan Airlines Group confirmed orders for 60 C919 and 40 C909 aircraft.
Air China became the first global user of the C929 wide-body aircraft.
The Guizhou Provincial Government and COMAC deepened their cooperation on domestic aircraft operations and industry development.
💡Meanwhile, in a significant rebranding move, COMAC announced that the ARJ21 aircraft would now be marketed under the new commercial name C909. This change aligns with COMAC’s unified naming strategy, where all aircraft models will follow the "COMAC+Model" format.
Advanced Air Mobility
China
At the Auto Guangzhou 2024, XPeng AeroHT unveiled its "Land Aircraft Carrier," marking the completion of its world-first public manned flight. Demonstrated by XPeng AeroHT founder Zhao Deli, the flying car successfully executed complex maneuvers such as vertical takeoff and landing, aerial in-place turns, and circular flights.
At the Zhuhai Airshow, XPeng AeroHT secured a record 2,008 pre-orders for the Land Aircraft Carrier, setting a new global flying car order volume record.
💡XPeng AeroHT is accelerating production, with its Guangzhou Intelligent Manufacturing Base, the world's first flying car factory with a modern assembly line, set to be completed by Q3 2025. Mass production of the Land Aircraft Carrier is expected to begin in 2026.
China-Middle East
EHang has secured over $22 million in investment from Zhuhai Enpower Electric and an undisclosed UAE institution to advance its eVTOL technology and expand its market presence, particularly in the Middle East and Southeast Asia. The funding will support production scaling and growth in UAV applications.
EHang also completed its first cross-sea cargo flight with the EH216-L eVTOL in Abu Dhabi, marking a significant step in UAV logistics applications in the region.
💡In a separate announcement, EHang has partnered with Sunriver Culture to integrate its eVTOL aircraft into China’s tourism sector. The agreement includes the purchase of 50 EH216-S aircraft for scenic sightseeing, aimed at enhancing the tourism experience at major destinations like Zhangjiajie and Huanglong Cave, while promoting low-altitude tourism across the country.
China
EHang has launched a new Urban Air Mobility (UAM) Hub at Luogang Central Park in Hefei, marking a key step in its partnership with the Hefei Municipal Government. The hub, which can accommodate 10-20 EH216-S eVTOL aircraft, will support commercial operations for air shuttles, tourism, and logistics.
💡The initiative, alongside a previously launched operations center, enhances Hefei's low-altitude economy infrastructure. EHang aims to obtain the world's first eVTOL Air Operator Certificate (AOC) by year-end, further advancing eVTOL adoption in Eastern China.
China
EHang, in partnership with Shenzhen Inx Energy, has completed a flight test of its EH216-S eVTOL aircraft powered by a high-energy solid-state battery. The successful test, which lasted 48 minutes and 10 seconds, marks a major advancement in eVTOL technology, improving flight endurance by 60%-90%.
💡The solid-state battery, offering enhanced energy density, safety, and thermal stability, significantly improves the performance of the EH216-S. EHang plans to scale the production of these batteries by 2025 to further enhance the aircraft's capabilities.
China-Thailand
EHang's EH216-S eVTOL aircraft has successfully completed its debut passenger flights in Bangkok, marking the 18th country for the company’s global eVTOL operations. With approval from the Civil Aviation Authority of Thailand (CAAT), EHang plans to begin commercial flights in tourist regions like Phuket and Koh Samui by 2025. The flights were part of the Thailand Drone Exhibition & Symposium 2024, with key industry leaders and government officials in attendance.
💡The EH216-S offers a solution to urban congestion and efficient island-hopping transportation in Thailand.
Japan-USA
SkyDrive Inc. has partnered with FEAM Aero, a global leader in aviation maintenance, to enhance the scalability and reliability of eVTOL operations across the U.S. and beyond. The collaboration will develop practical use cases, streamline eVTOL integration into existing aviation infrastructure, and accelerate regulatory approvals.
💡Since establishing a U.S. subsidiary in 2023, SkyDrive has focused on real-world applications of advanced air mobility (AAM). The partnership will prioritize regional airport routes, leveraging FEAM Aero’s network of 52 line stations and support for 130,000 flights annually.
Singapore-Thailand
At the inaugural Thailand Drone Exhibition and Symposium 2024 in Bangkok, Singapore's CAAS Director of Unmanned Systems Policy, Mr. MGR Maran Paramanathan, highlighted the nation's progressive approach to Unmanned Aircraft Systems (UAS) and Advanced Air Mobility (AAM) regulations. He discussed the ongoing Meeting of Asia-Pacific Regulators on AAM and UAS, where regional states collaborate to develop materials for safe and efficient drone operations.
💡Paramanathan emphasized the importance of a balanced regulatory approach to ensure safety while fostering innovation in the rapidly growing drone sector.
Marine
Global
A new report from the Maritime Just Transition Task Force (MJTTF), in collaboration with Lloyd’s Register and the UN Global Compact Ocean Stewardship Coalition, calls for a complete overhaul of seafarer training as the maritime industry transitions to zero and near-zero emission fuels like ammonia, methanol, and hydrogen. Following consultations with over 100 stakeholders, the report identifies critical safety risks related to these fuels, including ammonia’s toxicity, methanol’s flammability, and hydrogen’s flame detection challenges.
💡The report highlights the lack of specific training standards in the STCW Convention and outlines the need for specialized training in emergency response, PPE protocols, and fire detection. A baseline training framework will be developed, with a roll-out of an Instructor Handbook scheduled for May 2025 to ensure safe deployment of alternative fuels in the maritime industry.
South Korea
South Korea’s Ministry of Oceans and Fisheries announced plans to expand marine protected areas from 1.8% to 3% of its waters by 2027. The initiative aims to address climate change and build a sustainable marine ecosystem. Additionally, the government will reduce marine pollution, particularly from abandoned fishing gear, and increase the coverage of its waste deposit system from 26% to 60%. The plan also includes streamlining fishing regulations and adopting smart technologies in the aquaculture sector, which makes up 60% of the country’s seafood production.
💡Minister Kang Do-hyung emphasized the goal of positioning South Korea as a leading maritime nation.
South Korea
Hanwha Ocean has secured a contract worth 713.5 billion won ($51.2 million) to build two LNG carriers for Maran Gas Maritime Inc., a subsidiary of Greece’s largest shipping group, Angelicoussis. The 174,000-cubic-meter capacity vessels will feature advanced ME-GI natural gas engines, a full re-liquefaction system (FRS), and eco-friendly technologies such as Hanwha's Air Lubrication System (ALS) and Shaft Generator Motor System (SGM) to enhance fuel efficiency and reduce emissions.
The ships will be built at Hanwha Ocean’s Geoje shipyard and are set for delivery by 2027. The contract includes an option for two additional vessels, further boosting Hanwha Ocean’s order volume. The orders include a mix of LNG carriers, very large crude carriers, and container ships.
💡With this deal, Hanwha Ocean has secured 39 vessels worth $7.87 billion this year, leading South Korea's shipyards in new orders.
China-Peru
China is investing $3 billion in the construction of the Chancay port in Peru, set to become South America's most modern port on the Pacific coast. Located 55 kilometers from Lima, the port will enhance trade connectivity between South America and Asia, benefiting Peru and other Latin American nations. This project is a key part of China’s Belt and Road Initiative (BRI), strengthening Peru’s trade relationship with China, its largest trading partner.
💡In addition to the port, Chinese firms have invested heavily in Peru's energy sector, acquiring major electricity suppliers, and in technology, with Huawei setting up research centers at top universities.
India
Union Minister of Ports, Shipping & Waterways, Shri Sarbananda Sonowal, chaired a mid-term review meeting to expedite the 'PM Maritime Amritkaal Vision' and achieve India’s goal of becoming a global leader in the maritime sector by 2047. The meeting assessed 162 projects with an investment of Rs. 1 trillion, focusing on modernization, digitalization, and sustainable growth.
The Sagarmala Program, a key component of this vision, seeks to position India’s ports among the top 25 globally. New initiatives include the development of Green Tugs at Cochin Shipyard, setting up Green Hydrogen Hubs at Deen Dayal and VO Chidambaranar ports, and promoting lighthouse tourism.
💡India is also focusing on increasing domestic container production, enhancing shipbuilding capabilities, and expanding inland waterways infrastructure, particularly in the Northeast. Projects like the Jal Marg Vikas Project on the Ganga River and the Third Dry Dock at Cochin Shipyard aim to bolster the maritime sector and create job opportunities. Additionally, India is working to establish a direct ferry service between Nagapattinam, India, and Kankesanthurai, Sri Lanka, as part of its efforts to strengthen regional connectivity.
Space
China
China launched the Tianzhou 8 cargo spacecraft on November 15, delivering supplies to astronauts aboard the Tiangong space station. The Long March 7 rocket lifted off from the Wenchang Satellite Launch Center at 10:13 a.m. EST. Tianzhou 8 will also carry science experiments, including tests on lunar soil simulant bricks, which will be exposed to space conditions for three years to assess their viability for building lunar habitats.
💡The launch was delayed by Typhoon Yagi but is now proceeding as part of China's ongoing space exploration efforts.
China
China has revealed the design of the Haolong space shuttle, a reusable spacecraft developed by the Chengdu Aircraft Design and Research Institute under AVIC. Unlike the current Tianzhou cargo spacecraft, Haolong will be capable of returning cargo to Earth, making it more cost-effective. The shuttle measures 32.8 feet long and 26.2 feet wide, with a lightweight design, less than half the mass of Tianzhou.
💡Haolong will launch atop a rocket and land horizontally on a runway, offering a new, reusable option for transporting cargo to and from China's Tiangong space station. The shuttle is currently in the engineering flight verification phase.
Thailand
ispace, inc., Thailand's Geo-Informatics and Space Technology Development Agency (GISTDA), and mu Space have signed a collaboration agreement to explore lunar missions within Thailand’s "National Space Experiment and Exploration" program.
💡The partnership, announced during Thailand Space Week 2024 in Bangkok, will focus on research, technology development, and knowledge transfer for future lunar exploration.
South Korea-Thailand
South Korean space launch startup Perigee Aerospace has signed a MOU with Thailand's GISTDA to enhance the country’s space infrastructure.
💡The agreement, signed during Thailand Space Week 2024 in Bangkok, focuses on joint development of space infrastructure, launch services, satellite and propulsion systems, and space education programs.
Thailand
Recently, Thailand's Cabinet approved the signing of the Artemis Accords, assigning GISTDA as the national focal agency. The Accords, a series of agreements between the U.S. and 47 other countries, establish guidelines for responsible space exploration.
💡The partnership will provide Thailand access to advanced space technologies and knowledge, fostering growth in space-related entrepreneurship, research, and education. GISTDA Director Pakorn Petchprayoon emphasized that this collaboration will open opportunities for Thai academics and entrepreneurs, positioning Thailand as a key player in global space exploration.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**