Unlocking Asia-Pacific as a First Mover 2025

The workshop heard that a key outcome of these efforts is to align stakeholders to commit to decarbonization timelines and to harmonize regulation and infrastructure across ports. In such a highly commoditized industry, with limited willingness to pay a green premium, the initial demand signal from a large player commissioning ammonia-fuelled vessels can be very impactful, sparking port authorities into thinking about investments in bunkering infrastructure. Australia has also signed MoUs with Singapore (2024) and South Korea (2025) to establish green shipping corridors supporting ammonia and hydrogen, with pilots from 2025 and first operations by 2029 (see Chapter 4.5). International regulation is adding momentum, but has stalled: following the unanimous adoption of the 2023 IMO Strategy on Reduction of Greenhouse Gas Emissions in April 2025, the IMO provisionally approved a Net- Zero Framework with a global fuel standard and a carbon pricing mechanism. The planned adoption in October 2025 ended in a vote that resulted in a one-year postponement of the decision, leaving many questions open. Solid regional or international regulatory certainty would strengthen the case for investing in green-fuel infrastructure and zero- emission vessels on key routes to Singapore, Japan and Korea.78 Participants discussed options for bilateral cooperation, with India and Singapore in particular, to support clean fuel exports. By exporting its green hydrogen advantage in the form of derivatives, such as low-carbon iron ore and ammonia produced with green hydrogen, Australia has an opportunity to help decarbonize not only its own economy but the economies of partner countries in Asia as well. Unlocking Asia-Pacific as a First Mover: Australia’s Green Iron Opportunity 26