The International Bunker Industry Association (IBIA) and the Hong Kong Shipowners Association (HKSOA) have signed a memorandum of understanding (MoU) on November 19 during the IBIA Annual Convention 2025 in Hong Kong, to deepen cooperation on marine energy and sustainable shipping initiatives.

The agreement, announced on December 1, establishes a formal framework for the two bodies to work together on shared priorities across the bunker and maritime sectors, particularly in areas related to sustainability, innovation, and workforce development.

IBIA, which represents stakeholders across the bunker supply chain, has been expanding its network of partnerships with regional and international shipping organisations as the maritime sector faces increasing pressure to reduce emissions and adapt to new fuel technologies.

The HKSOA represents vessel owners and operators based in one of Asia's major shipping hubs. Hong Kong serves as a key bunkering location in the region, handling significant volumes of marine fuel annually.

Under the MoU, the organisations will collaborate on a series of joint initiatives, including research and development projects related to green shipping, alternative marine fuels and the resilience of bunker supply chains.

Additionally, training and education will form a second area of cooperation, with both sides planning workshops, seminars and other learning programmes to strengthen skills and knowledge across the sector.

IBIA and the HKSOA also intend to coordinate on industry advocacy, presenting aligned positions on regulatory, operational and environmental issues in regional and international forums.

Constantinos Capetanakis, Chair of IBIA, stated that “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.”

HKSOA Chair Angad Banga said, “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.”

Both organisations said the partnership reflects their commitment to supporting the maritime sector’s shift towards lower-carbon operations while maintaining high safety and efficiency standards. Specific initiatives arising from the MoU will be detailed in separate agreements as opportunities emerge, and each party will cover its own costs unless otherwise agreed.