The Silk Alliance is a Green Corridor Cluster focused on a fleet that predominantly bunkers in Singapore and operates across the Indian and Pacific Oceans comprising stakeholders from across the full value chain including international shipping, shipbuilding, financing and marine fuel supply chains, while also bringing together representatives from both the public and private sector.
The Alliance was officially formed in May 2022 and has since then adopted the First Mover Framework (FMF) approach. The First Mover Framework brought together the members to discuss emerging trends and share different perspectives about the initiative. It also helped to identify a ‘baseline fleet’ stemming from the members’ existing fleet based on the likelihood for these vessels to perform bunkering operations in Singapore. The next step was about identifying the key questions and agreeing on focus areas.
Following the issuance of an open letter sharing their vision for the green corridor cluster, members of the Silk Alliance released a progress report identifying three interlinked workstreams focused on the areas of fleet and fuel demands, fuel supply and finance that will operationalise the green corridor cluster.
The workstreams were developed through a scenario analysis of different fuel transition strategies to narrow down the fuels of interest – methanol and ammonia – conducted through the recent addition of new Silk Alliance members representing the government and fuel production space. These workstreams correspond to milestones in the multi-year implementation plan outlined in the open letter.