Singapore has one of the busiest ports in the world - an average 140,000 vessels call annually.

The city state is serious about fostering sustainability within the industry - to bolster efforts the government has just announced a new Sustainability pillar under the maritime cluster fund.

Speaking in parliament this week at the debate for the Transport ministry’s budget Transport Minister Chee Hong Tat says the initiative will support first mover adoption of sustainable solutions.

Rachel Kelly has the details in this week's Eco Money.