IBIA and Hong Kong Shipowners Association signed MoU to advance collaboration on marine energy and sustainable shipping. Collaborative framework established at IBIA Annual Convention in Hong Kong will focus on Green Fuel R&D, Training, and Unified Industry Advocacy.
London, United Kingdom | December 3, 2025 – The world’s marine energy landscape took a decisive step towards decarbonisation and supply chain professionalisation last month as the International Bunker Industry Association (IBIA) and the Hong Kong Shipowners Association (HKSOA) formally signed a Memorandum of Understanding (MoU).
The landmark agreement was executed on Wednesday, November 19, 2025, during the high-profile IBIA Annual Convention in Hong Kong, cementing a strategic partnership between the representative body for the global bunker value chain and a major global hub for shipowners controlling a fleet of over 244 million deadweight tonnes.
The MoU establishes a formal framework for cooperation, innovation, and professional development aimed at tackling the shared challenges and immense opportunities presented by the maritime industry’s energy transition.
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The Strategic Imperative: Uniting the Value Chain with Fleet Demand
The core significance of this alliance lies in uniting the comprehensive industry voice with a vast segment of the end-user demand side.
The partnership strategically brings together:
- IBIA (The Value Chain): The voice of the global marine energy value chain, representing a diverse membership including shipowners, fuel suppliers, traders, port authorities, and regulators.
- HKSOA (Fleet Demand): A leading representative body for shipowners and operators, controlling a fleet with a combined capacity exceeding 244 million deadweight tonnes—a powerful segment of global demand.
This combination of expertise and influence will allow the organisations to drive practical, globally consistent solutions for the transition.
Constantinos Capetanakis, Chair of IBIA, underscored the profound leverage this collaboration creates: “This MoU represents a significant opportunity to deepen collaboration between the global bunker industry and Hong Kong’s dynamic shipowning community. By leveraging IBIA’s expertise in the marine energy value chain alongside HKSOA’s influential position in Asian shipping, we can accelerate progress on decarbonisation, alternative fuels and the adoption of best practices worldwide.”
The agreement aligns perfectly with Hong Kong’s aggressive strategy to become a premier green maritime fuel bunkering centre, leveraging its proximity to Mainland China, which is emerging as the world’s largest producer of green maritime fuels.
Angad Banga, Chair of HKSOA, highlighted the essential factors this MoU targets: “The transition to green fuels requires infrastructure, capital, and expertise. Hong Kong’s proximity to major green fuel production centres positions us as a natural hub for sustainable bunkering. Through this partnership with IBIA, we aim to advance knowledge sharing and training to build a future-ready workforce.”
Three Pillars of Collaboration: Research, Training, and Advocacy
The partnership will focus on three non-negotiable areas to ensure a safe, efficient, and compliant transition:
- Research and Development (R&D): Both organisations will collaborate on joint studies, projects, and initiatives related to green shipping, alternative marine fuels, and sustainable bunker supply chains. This R&D focus is critical for establishing unified standards for the new fuels (like methanol, ammonia, and biofuels) where quality specifications are still evolving.
- Training and Education: This is a direct response to the “expertise” deficit cited by HKSOA. The joint development of training programmes, seminars, and educational resources will be instrumental in building a future-ready workforce across both the shipping and fuel supply sectors, ensuring safe handling and compliant practices for emerging energy sources.
- Advocacy: The MoU enables the associations to speak with a unified voice on common regulatory, environmental, and operational issues at regional and international forums, most notably the International Maritime Organization (IMO). This combined advocacy strengthens the industry’s ability to drive practical, globally consistent regulations.
An Alliance to Meet IMO 2050
This MoU is more than a handshake; it is a structural response to the IMO’s updated Greenhouse Gas (GHG) strategy and the looming demands of carbon pricing and FuelEU Maritime regulations.
By uniting the “voice of the marine energy value chain” with the owners of a significant portion of the global fleet, the partnership signals:
- Regional Leadership: A clear statement that Hong Kong is leveraging its standing as an international maritime centre and its proximity to Asia’s green fuel production to lead the transition in the region.
- Decarbonisation Acceleration: A direct commitment to the practical steps (training and R&D) needed to move low- and zero-carbon fuels from niche pilot projects to commercial mainstream volumes.
- Risk Mitigation: Ensuring that as the industry adopts new fuels, the foundational elements of operational efficiency and safety standards are maintained, a primary concern for shipowners and insurers.
Specific projects under the MoU are expected to be defined as opportunities arise, but the commitment to mutual support in navigating this complex energy transition is now firmly established.
About HKSOA
Established in 1957, the Hong Kong Shipowners Association (HKSOA) represents the interests of Hong Kong-based shipowners and managers controlling one of the world’s largest fleets, with a combined capacity exceeding 244 million deadweight tonnes. HKSOA is a respected voice for the shipping sector and actively supports Hong Kong’s position as a leading international maritime centre.
IBIA in Brief
The International Bunker Industry Association (IBIA) is the authoritative voice of the global bunker industry, representing all sectors and stakeholders across the marine fuels value chain.
- Founded: 1993
- Membership: Shipowners, charterers, bunker suppliers, traders, brokers, ports, regulators, service providers, and marine energy industry stakeholders worldwide.
- Mission & Role:
- Foster collaboration and professionalism across the industry
- Promote education and best practices
- Uphold high standards of conduct
- Provide a platform for discussion, guidance, and advocacy
- Engagement: Actively participates with other industry bodies, national and international policymakers, and legislators, including the International Maritime Organization (IMO), where IBIA holds consultative NGO status
- Global Forum: Offers a comprehensive platform to address challenges and opportunities in the bunker industry, ensuring the industry’s voice influences the future of marine fuels and maritime regulation
- Offices: UK, South Africa, Singapore
Source: International Bunker Industry Association (IBIA)