The International Bunker Industry Association, the voice of the global marine energy value chain, and the Hong Kong Shipowners Association (HKSOA), a leading representative body for shipowners and operators in one of the world’s premier maritime hubs, have signed a Memorandum of Understanding (MoU) on Wednesday 19 November, during the IBIA Annual Convention 2025 in Hong Kong.
The MoU establishes a framework for closer cooperation between the two organisations to address shared challenges and opportunities in the bunker/marine energy and maritime industries, with a particular emphasis on sustainability, innovation and professional development.
Under the agreement, IBIA and HKSOA will explore joint initiatives in the following key areas:
- Research and Development – Collaborating on studies, projects and initiatives related to green shipping, alternative marine fuels and sustainable bunker supply chains.
- Training and Education – Developing joint training programmes, seminars, workshops and educational resources to build capability and knowledge across the bunker and shipping sectors.
- Advocacy – Working together to represent industry interests on common regulatory, environmental and operational issues at regional and international forums.
Constantinos Capetanakis, Chair of IBIA, commented: “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.”
Angad Banga, Chair of the Hong Kong Shipowners Association (HKSOA), added: “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.”
The partnership reflects both organisations’ commitment to supporting the maritime industry’s transition to a lower-carbon future while maintaining operational efficiency and safety standards.
Specific activities and projects under the MoU will be defined in separate agreements as opportunities arise. Each party will bear its own costs unless otherwise agreed.
