Singapore to invest over S$100 million in maritime research and development over next five years
Acting Transport Minister Jeffrey Siow announced the investment as well as a new roadmap for maritime technology and research at the launch of the Singapore Maritime Week 2026.
Acting Transport Minister Jeffrey Siow speaking on a panel at the Institute of Policy Studies’ Singapore Perspectives 2026 conference. (File photo: IPS)
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SINGAPORE: More than S$100 million (US$78.7 million) will be invested over the next five years to fund research and development in Singapore's maritime sector.
The plan was announced on Tuesday (Apr 21) by Acting Transport Minister Jeffrey Siow at the opening of the Singapore Maritime Week 2026.
It is part of a new roadmap for maritime technology and research, which will guide future research and development in areas such as autonomous port operations, alternative fuels, smart ships and intelligent and integrated port services.
The roadmap, launched by the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute, builds on the foundation of a 2019 roadmap for the sector.
The move comes as MPA and the Singapore Shipping Association signed a memorandum of understanding to speed up the adoption of artificial intelligence among maritime companies to boost productivity and competitiveness.
Mr Siow said that the maritime industry continues to face a range of challenges, including:
- Cyber threats evolving faster than existing defences
- AI advancing faster than industry adoption
- A fragmented transition to alternative fuels, with gaps in technology, bunkering infrastructure and regulatory frameworks.
"Addressing these long-term challenges will require a global commitment," said Mr Siow.
The new plan will build on the S$500 million allocated for maritime research and development in Singapore over the past 20 years.
The announcement comes amid the conflict in the Middle East, with major implications for the shipping industry given the effective blockading of the Strait of Hormuz, a crucial route for global supplies of oil and other key commodities.
Iran’s Revolutionary Guards have warned they could target vessels transiting the strait without approval, while US President Donald Trump has accused Iran of harassing shipping in the area.
On Monday, both Washington and Tehran said that they were prepared to resume hostilities as a ceasefire deadline nears. Proposed peace talks remain uncertain after the US seized an Iranian cargo ship attempting to breach its blockade.
