On Tuesday, a Singaporean minister announced plans for Singapore to produce over 1 million metric tonnes of low-carbon methanol annually by 2030, in response to growing demand for alternative bunker fuel.
Last year, Singapore’s Maritime and Port Authority (MPA) initiated a bidding process for companies to supply methanol as a marine bunker fuel starting from 2025.
The MPA intends to provide more details on the outcomes of methanol bunkering trials, which will inform the development of regulatory frameworks. Anticipating future growth in methanol bunker demand, the sector is preparing accordingly.
Furthermore, the authority stated that Singapore’s national guidelines for methanol marine fuel delivery are slated for publication in 2025.
The proposals emerged ahead of an expected uptick in methanol-powered ships, as companies ramped up orders of such vessels amid plans to cut carbon emissions with cleaner fuels.
Singapore, which is the world’s largest bunkering hub, conducted its first bio-methanol refuelling operation for a Maersk ship in July this year. Interest in methanol bunkering has grown as the shipping industry works towards carbon emission targets, with major shipowners and ports stepping up methanol bunkering-related projects globally
Source: Energy Ghana