Seatrium and Nanyang Technological University Launch Renamed New Energy Laboratory. (Photo credit: Seatrium)
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In this feature interview with CEO Chris Ong, we explore how Seatrium is addressing the complex challenges facing innovation in the maritime sector. From navigating regulatory landscapes to integrating cutting-edge technologies, Seatrium’s strategic approach ensures it remains a leader in sustainable maritime innovation.
Key Topics Covered:
- Seatrium’s strategies for overcoming high R&D costs and market resistance.
- The importance of regulatory compliance in driving innovation.
- Strategic partnerships that allow Seatrium to lead in sustainable solutions.
Chris, Seatrium has been a pioneer in maritime innovation, but with that comes challenges. What are some of the major hurdles your team faces in driving innovation forward?
Chris Ong:Â Innovation, especially in a traditionally conservative sector like maritime, presents a number of challenges. One of the biggest is the cost barrier. Developing cutting-edge technologies such as Carbon Capture and Storage (CCS) systems or electric-powered vessels requires significant R&D investment and some lasting years. This is further complicated by the high costs associated with retrofitting existing fleets with these technologies. For many industry players, the financial risk can outweigh the perceived benefits, leading to hesitation in adopting new technologies.
At Seatrium, we mitigate this by creating strong alliances with technology partners and key stakeholders. We share the costs and risks, allowing us to move forward with innovation without bearing the full financial burden alone. For example, working with partners such as the Institutes of Higher Learning, our customers, and government bodies such as  the Maritime and Port Authority of Singapore (MPA) will enable us to bring cleaner energy solutions to market at scale.
 How do regulatory requirements affect the pace and direction of innovation at Seatrium?
Chris Ong: The maritime sector is heavily regulated, particularly regarding safety and environmental standards. Although these regulations are aligned with International Maritime Organisation’s (IMO) vision, they vary from country to country in terms of state specific regulations, making it challenging to develop a one-size-fits-all solution. The process of navigating these scenarios can slow down the adoption of new technologies and add complexity.
To overcome this, we maintain close relationships with regulatory bodies across different regions. This allows us to stay ahead of regulatory changes and ensure that our innovations comply with the highest safety and environmental standards. For instance, our work on ammonia-powered vessels like the Fortescue Green Pioneer involved close collaboration with government authorities to meet stringent safety requirements. We’re also continually updating our processes to align with international regulations, ensuring that we remain compliant while driving forward with innovative projects.
What role does Seatrium’s workforce play in overcoming the challenges of adopting new technologies?
Chris Ong: Training and upskilling are crucial parts of our strategy. As we introduce new technologies like hybrid propulsion systems or advanced CCS, it’s essential that our workforce is prepared to operate and maintain these systems. New technology means altering traditional ways of operating. To address this, we invest heavily in training to ensure that our teams are not only familiar with these new technologies, but also confident in their use.
Additionally, we focus on attracting new talent with the skills needed to drive digital transformation in maritime operations. We have partnerships with universities and training institutes that ensure we’re developing the next generation of engineers, skilled workers, and innovators.
Partnerships seem to be a key part of Seatrium’s approach. Can you share how collaboration has helped you overcome these challenges?
Chris Ong: Absolutely. Collaboration is at the heart of Seatrium’s innovation strategy. The challenges we face—whether related to cost, technology, or regulation—are often too large to tackle alone. By working with ecosystem partners, technology providers, and government bodies, we can pool our resources, share expertise, and drive technological advancements much faster than if we operated in isolation.
A great example of this is our partnership with TenneT and GE Vernova, where we’re developing HVDC electrical transmission systems to provide clean energy to millions of households in Europe. This project wouldn’t be possible without the collaboration between multiple stakeholders, each contributing their expertise and resources. Another partnership that stands out is our collaboration with EMA (Energy Market Authority) to launch Southeast Asia’s first floating and stacked Energy Storage System (ESS). As Southeast Asia’s very first ESS, this project addresses energy security in Singapore and is a testament to what can be achieved when we work together with the right partners.
Looking ahead, how will Seatrium continue to navigate the challenges in maritime innovation?
Chris Ong: Seatrium is committed to being at the forefront of innovation, but that requires an adaptable and forward-thinking approach. We will continue to invest in R&D and talent development because we see it as essential to staying competitive. As regulatory standards evolve, we’ll stay engaged with global authorities to ensure our technologies are compliant and safe.
Furthermore, we’ll continue to build strategic partnerships that allow us to work collaboratively to share both the costs and rewards of innovation. Our Sustainability Vision 2030 is the foundation of everything we do, and we’re on track to meet our goals, including reducing our own emissions and scaling up renewable energy projects. Innovation is challenging, but by staying committed to our values and strategic goals, we’ll continue to lead in sustainable maritime solutions.
Be sure to join Seatrium at SNIC 2024, November 6–7, and learn more about how we are driving innovation and sustainability in the maritime industry. Register today and secure your spot at this premier event!
Photo credit for featured photo Seatrium and Nanyang Technological University Launch Renamed New Energy Laboratory: Seatrium.