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Thank you, Angela for your kind introduction, and congratulations to you and your team on organising this important event for the maritime industry.

I begin by respectfully acknowledging the Traditional Custodians of the land on which we meet today. 

I pay my respects to their Elders past and present, and I extend that respect to any and all First Nations people joining us today.

Australia’s First Nations people were our first maritime traders. 

This rich and deep history included trade with Macassan ships from Indonesia along our Northern frontier, and seafaring trade in the Torres Strait, and along the coast of Papua New Guinea. Our modern maritime industry builds on this tradition.

I’d also like to acknowledge, from the Victorian Government, Melissa Horne MP, Minister for Health Infrastructure, Ports and Freight, and Roads and Road Safety.

And Professor Rod Sims AO, from the Crawford School of Public Policy at the ANU – thank you for joining us today.

The theme of this Summit is ‘progress’ and we come together on the International Day of the Seafarer. 

It couldn’t be more timely given the current geopolitical state of the world and the imperative of decarbonisation. 

These are the realities of our times.

It is more important than ever for Australia to have a strong and sovereign maritime sector, and for us to embrace both the challenges and the opportunities of decarbonisation. 

The maritime industry is absolutely vital for Australia’s prosperity. 

As the lyrics of our national anthem state, ours is a nation ‘girt by sea’.

Our coastline extends across some 60,000 kilometres and includes 12,000 islands.

It is the great sea roads and maritime highways leading from our shores that connect Australia with the world, and centres us in the Asia-Pacific region. 

Our society and economy depend utterly on the ships that ply these routes. 

These are our supply chains.

Shipping is responsible for over 99 per cent of our nation’s international trade.

We are the fifth largest user of shipping services in the world, and the world’s largest bulk commodities exporter.

Our ports handle over 1.6 billion tonnes of cargo, and welcome 29,000 visits every year from international trading ships. 

A substantial proportion of our domestic freight also depends on coastal shipping. 

And let’s not forget that the maritime sector is an important employer – ports activities alone account for an extraordinary one in 20 jobs in our country.

This morning, I’d like to give you an overview of what our government is doing to support your vital industry.

The Prime Minister has made clear a major focus this term would be supporting industries across the economy to drive productivity, and to do that while also lifting job security and job quality. 

In the lead up to the Treasurer’s upcoming Reform Roundtable, I intend to host a meeting with key transport and logistics industry representatives, including the maritime sector, to discuss ways to grow the economy and increase productivity. 

We want to build an economy where growth, wages and productivity rise together.

And we are committed to modernising Australia’s maritime sector; including through its regulatory framework.

The Shipping Registration Act came into being in 1981, in very different times.

Modernising it is another of our Government’s priorities, to ensure it is fit for purpose and supports the long-term sustainability of an Australian strategic fleet. 

Our independent review of the Shipping Registration Act is now complete. 

I’d like to thank its leaders -- Former Public Service Commissioner Lynelle Briggs, and Nicholas Gaskell, Emeritus Professor of Maritime and Commercial Law at the University of Queensland -- for their efforts.

Lynelle and Nick conducted comprehensive stakeholder consultation as part of their review, and they have incorporated extensive feedback into their report. 

They are continuing with their parallel review of the Coastal Trading Act 2012, which is due to report later this year.

Another crucial step we are taking to improve maritime resilience and capability is the establishment of a strategic fleet ― 12 Australian flagged and crewed vessels that will enable the movement of critical cargo during crises and emergencies.  

Our Government committed funding in the 2024-25 Budget to establish a five-year Strategic Fleet Pilot Program comprising three vessels.

These will be privately owned, commercially operated and will be available to the Australian Government to requisition in times of need. 

Tenders for the Pilot program are currently being evaluated through a competitive, open and transparent process that will ensure the government achieves value for money.

The Strategic Fleet provides the opportunity for growth and transformation in Australia’s maritime sector in a way that supports Australia’s economic prosperity, security and way of life well into the future.

The Pilot will provide an evidence-base for future proposals to expand the fleet and fully deliver on our Government’s commitment.

Once procurement for the Pilot Fleet is complete we will make a public announcement regarding the outcome and indicative timing for the first vessels on the water.

Industry has been heavily involved in shaping the government’s Strategic Fleet policy through consultation processes, and this engagement will continue in the implementation stage.

Our domestic policy needs to progress our national interests, and it also needs to be in-step with global developments.

Australia’s presence at International Maritime Organisation enables this.

Shipping is by nature a global industry, and Australia’s interests are represented in this world forum.

Australia’s presence at the IMO also enables our engagement with international efforts to reduce emissions and prevent ship-based pollution of all kinds.

During our first term, our Government supported the IMO to adopt a Revised Strategy on the Reduction of Emissions from Ships, and reach Net Zero emissions by 2050.

The Strategy’s decarbonisation pathway includes mid‑term measures such as annual fuel intensity targets, a greenhouse gas emissions economic measure, and a reward system for sustainable fuel adoption.

It sets target reductions of 30 per cent by 2030 and 80 per cent by 2040 compared to 2008 levels, as well as a target of 10 percent for the uptake of zero-emission fuels by 2030.

In April, the IMO made the historic decision to circulate measures that will achieve these targets.

Interestingly, the measures also include a ‘feebate’ mechanism that will subsidise green maritime fuels, which supports our Government’s Low Carbon Liquid Fuels policy.

As our Government was in caretaker mode in April, Australia abstained from voting on these measures at the time. 

They will be further considered by IMO in October, and if agreed will establish the world’s first ever truly international carbon market. 

The Government is carefully considering what role it will play in October, and I understand that my department is hosting a roundtable with industry later this week to continue the conversation on how the measures might impact industry.

The Secretary-General of the IMO is also visiting Australia in August and I hope to catch up with him to discuss Australia’s maritime interests.

The year 2030, the deadline for the first of the IMO’s targets, is not that far away.

Our government recognised this in our first term, and we laid plans to ensure that Australia’s maritime industry is prepared for the future, ready to contribute to our national emissions targets, and able to thrive in a decarbonised global economy.

Now in our second term, we have a strong mandate to continue the work we’ve started.

There are challenges to meet on the road to decarbonisation, but also incredible opportunities in new jobs and new industries. 

Our Government’s ambition for a Future Made in Australia will form a comprehensive, coordinated and practical strategy to seize all the benefits on offer.

As part of the Future Made in Australia plan, the Government is fast-tracking support for our nation’s growing domestic Low Carbon Liquid Fuels, or LCLFs. 

In March, we announced the delivery of $250 million to accelerate the pace of Australia’s growing domestic LCLF industry. 

This funding is part of the $1.7 billion Future Made in Australia Innovation Fund, and is being provided as grants to support pre-commercial innovation, demonstration and deployment.

Australia has all the ingredients to support a thriving biofuels sector – especially if the IMO measure for a global subsidy is adopted and provided.

We have an abundance of renewable energy resources and significant refining and port infrastructure.

We have the potential to grow LCLF production for domestic consumption and for export.

And our Government is committed to supporting a sovereign biofuel industry that Australia controls, and which serves our interests.

Our Government is committed to maritime decarbonisation, as part of our drive to reach our legislated target of Net Zero greenhouse gas emissions by 2050.

Our Government will soon release its Net Zero Plan for the economy, along with six sector-decarbonisation plans.

Amongst these sector plans is one for the Transport and Infrastructure Net Zero Roadmap.

And within that plan is one that speaks specifically to the unique challenges and opportunities of the maritime industry – the Maritime Emissions Reduction National Action Plan, or MERNAP for short.

The MERNAP will outline how we aim to support Australia’s national emissions reduction targets, contribute to the global decarbonisation of shipping, and future-proof the Australian maritime sector to avoid costly and disruptive transitions later.

It will ensure an equitable transition, particularly for the maritime workforce, and it will safeguard jobs and skills for the future.

Our vision is that by 2050, Australia will fully leverage the global maritime decarbonisation transition, for the benefit of our ports, vessels, and the broader energy sector.

Work on the MERNAP began in 2023-24, with an industry consultation process, and the MERNAP Consultative Group has played a vital role in shaping this action plan.

They engaged with us on topics such as:

• regulatory challenges and gaps
• energy sources and technologies
• skills and training
• and international partnerships.

I’d like to thank those stakeholders who were part of the group, and especially Angela Gilham and MIAL for the key role they’ve played in this process. 

I am now considering the MERNAP, and the timing of its release. 

Our next step will be to develop an implementation plan to progress the MERNAP’s proposed action items. 

Our Government will continue to progress reform in the maritime sector. We must. 

There are so many cross currents reshaping global maritime trade right now, and addressing these requires comprehensive and future-focused action.

No doubt these issues ― and the opportunities ― facing the sector will be discussed at length in coming days, and I wish you well in these.

Thank you once again for the invitation to speak this morning. 

I look forward to working with all industry stakeholders in our government’s second term.