- Fully electric propulsion design featuring approximately 151 MWh of energy storage strengthens capabilities in zero-carbon maritime transport
- Integrated solution combines electric propulsion, and containerized battery energy storage systems
- Expanded eco-friendly marine propulsion portfolio lays the groundwork for entry into the next-generation zero-carbon vessel market
SEOUL, South Korea, Oct. 23, 2026 /PRNewswire/ -- Hanwha Power announced that it had received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its design of a 1,700 TEU battery-powered containership.
The certificate presentation ceremony took place on October 22, local time, at the MHE (Maritime Hybrid, Electric & Hydrogen Fuel Cells) Conference & Exhibition 2026 in Bergen, Norway. Jong-kyu Hwang, Vice President, Technology Solutions at Hanwha Power, attended the ceremony alongside senior representatives from ABS. The event runs from October 21 to 23 at the Scandic Hotel Bergen City.
The newly approved design concept features a fully electric container vessel powered by a large-scale 151 MWh Energy Storage System (ESS). Electrical energy stored in containerized battery units serves as the vessel's primary propulsion source, enabling operation without direct carbon emissions through the use of port charging infrastructure.
The use of containerized batteries, which can be handled and stowed like standard cargo containers, enhances space efficiency, maximizes cargo capacity, and optimizes overall vessel performance. This approach also supports flexible battery replacement and scalable operation, offering a practical pathway for the decarbonization of short-sea and regional container transport.
The AiP strengthens Hanwha Power's capabilities in fully electric vessel design using large-scale battery energy storage and expands its portfolio of marine propulsion solutions. The company plans to build on this achievement to pursue opportunities in the next-generation zero-carbon maritime transport market.
Alongside the approval, Hanwha Power has also completed the basic design of a 1,000 TEU battery-powered container vessel. Building on its expertise in vessel design across multiple ship classes, the company aims to develop a comprehensive lineup of electric-propulsion vessels tailored to a wide range of operating conditions and customer needs.
"This AiP from ABS marks an important step in extending Hanwha Power's marine technology capabilities to fully electric vessels powered by large-scale battery systems," said Jong-kyu Hwang, Vice President, Technology Solutions at Hanwha Power. "We will address the needs of the next-generation zero-carbon maritime transport market with integrated solutions that combine electric propulsion and containerized battery system technologies."
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Hanwha Power Receives ABS Approval in Principle for 1,700 TEU Battery-Powered Containership Design
SINGAPORE, Oct. 23, 2026 /PRNewswire/ -- Visa, a global leader in digital payments and the Singapore Tourism Board (STB) have signed a three-year Memorandum of Understanding (MOU) to strengthen Singapore's appeal as a preferred travel destination and to unlock new growth opportunities. The collaboration will focus on three key pillars – driving discovery of Singapore's tourism products, especially its dining and night-time experiences; deriving insights to identify high-value tourism opportunities; and developing co-branded marketing campaigns to build brand preference for both Visa and Singapore.
Visa also announced that Singapore will be part of Visa Destinations, and the collaboration will leverage Visa Destinations as a platform to introduce strategic partnerships, flagship initiatives and experiences across Singapore's tourism precincts and high-yield traveller segments.
Visa Destinations is a global travel programme designed to elevate how travellers discover and experience the world's most iconic destinations. Singapore is the second country to launch Visa Destinations in Asia Pacific, following Thailand which was introduced in July this year. Other cities include London, New York, and Paris, reinforcing the city's position as a leading travel hub. The programme will commence in Singapore in November this year.
Curating distinctively local experiences to inspire discovery of Singapore
The first pillar of collaboration will focus on benefits and experiences for travellers across tourism industries including attractions, dining, entertainment, retail and tours, which are key categories of spend.
Visa's data shows that shopping and dining are significant contributors to traveller spend. This reinforces the importance of curating meaningful experiences that give travellers compelling reasons to return to Singapore, particularly as repeat visitors spend approximately four times more than first-time visitors[1]. Visa's spend trend data and insights can sharpen the understanding of visitor segments, source markets and experiences with the greatest potential to drive higher-value demand, deeper exploration and repeat travel.
Visa and STB will also work closely to curate offers that showcase local businesses across tourism precincts, including building on an existing partnership with Pelago by Singapore Airlines to promote attractions and tours, supported by seamless, secure payment experiences throughout the visitor journey. These include introducing benefits and experience packages for Visa cardholders globally through the Visa Destinations platform at key attractions in Singapore.
The partnership will also spotlight Singapore's vibrant night-time experiences, with both parties collaborating to drive demand, including building on an existing collaboration with Grab. Singapore's night-time dynamism is a compelling part of its destination appeal, with flagship events such as the Singapore Grand Prix creating opportunities for visitors to experience the city after dark. The latest data from Visa indicated that during the F1™[2] Singapore Night Race 2026 race week, there was uplift in spend on restaurant and entertainment categories by two-thirds. Spending grew throughout the day, where evening spend climbed by almost half between 7pm and 11pm, and nearly doubled between 11pm and 5am[3].
Harnessing insights and targeted campaigns to drive high-value tourism
The second pillar will focus on harnessing tourism insights to identify high-value tourism opportunities through rich insights from Visa's global network of cardholder data and analytics capabilities.
Visa data shows that some of the largest inbound travel corridors to Singapore amongst Visa cardholders include Australia, Indonesia, Mainland China, Malaysia and the United States[4]. This aligns with STB's visitor arrival data, where these markets are among the largest source markets of visitors to Singapore. As there are common markets of interest, pooling available market data will allow both parties to develop a deeper understanding of visitor behaviour and preferences, tailor more targeted initiatives in response, and ensure efforts are focused on markets and segments with the highest potential for high-value tourism growth.
The third pillar of cooperation will see Visa and STB develop co-branded marketing campaigns anchored on the brand strengths of Visa Destinations and STB's Passion Made Possible. The partners will roll out initiatives across key source markets, supported by destination-led storytelling, co-marketing activities and in-destination activations. These efforts will combine tailored travel content with exclusive access and experiences for Visa cardholders, building on the success of past campaigns such as Visa-STB-Pelago's 'Seasons. Made in Singapore' and 'Non-stop Fun' which built on STB's 'Made in Singapore' and 'We Don't Wait For Fun' campaigns.
"Singapore is already a world-class destination with strong global appeal. Our partnership with the Singapore Tourism Board is about converting that appeal into deeper engagement, bringing together STB's destination expertise with Visa's global network, travel insights and partnerships to inspire more international travellers to visit and return," said Adeline Kim, Group Country Manager, Regional Southeast Asia, & SVP, Global Clients, Asia Pacific, Visa. "Visa Destinations will help turn inspiration into action by connecting our cardholders with benefits, exclusive access and distinctive experiences across attractions, dining, entertainment, retail and tours. Together, we can make every stage of the journey more rewarding and seamless, while helping visitors discover more of Singapore and supporting the country's ambition for high-value tourism growth," she added.
"As travellers today increasingly seek more personalised and distinctive experiences, Singapore continues to evolve to inspire new discoveries with every visit. This partnership with Visa brings together its global reach, insights and network of partners with STB's destination expertise to curate compelling, high-quality experiences and data-driven marketing campaigns that resonate with travellers' interests. Through this collaboration, we aim to create more opportunities for our tourism businesses and advance STB's Tourism 2040 priorities through impactful, high-quality tourism growth," said Melissa Ow, Chief Executive, Singapore Tourism Board.
To see the list of Singapore's Visa Destinations' benefits and experiences, click here.
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About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About the Singapore Tourism Board
The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore's key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.
More: www.stb.gov.sg or www.visitsingapore.com | Follow us: STB LinkedIn, STB Facebook or STB Instagram
| [1] VisaNet data as of April 2025 to March 2026 |
| [2] Visa has no commercial affiliation or sponsorship relationship with Formula 1TM. All insights and data provided are based on VisaNet data from during the week of the Singapore Grand Prix |
| [3] VisaNet data as of event week is 5–11 October 2026, compared with the weekly average of the 52-week benchmark period from 6 October 2025 to 4 October 2026 |
| [4] VisaNet data as of September 2026 |
[1] VisaNet data as of April 2025 to March 2026
[2] Visa has no commercial affiliation or sponsorship relationship with Formula 1TM. All insights and data provided are based on VisaNet data from during the week of the Singapore Grand Prix
[3] VisaNet data as of event week is 5–11 October 2026, compared with the weekly average of the 52-week benchmark period from 6 October 2025 to 4 October 2026
[4] VisaNet data as of September 2026
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Visa Partners Singapore Tourism Board to Strengthen Singapore's Global Destination Appeal
