Mitsui & Co., Ltd. (Mitsui), Mitsui & Co, Energy Trading Singapore Pte. Ltd.(METS), Maersk Oil Trading, a part of A.P Moller – Maersk (MOT) and American Bureau of Shipping (ABS) have agreed to jointly conduct a detailed feasibility study of methanol bunkering logistics in Singapore.
This joint project is in line with both IMO’s initial strategy to halve GHG emissions by 2050 and MPA’s Singapore strategy to achieve decarbonization. Green methanol is expected to be one of the promising alternative marine fuels that has the potential to make significant contributions to reducing GHG emissions in the shipping industry and project participants strongly believe that the establishment of a safe and reliable operational platform is valuable to Singapore as a leading bunkering location globally.
Through the feasibility study, the project participants intend to investigate the design of the bunkering vessel, safe operating procedures, fuel storage and regulatory considerations by utilizing both MOT and Mitsui group’s strong presence in the Singapore marine fuel market. ABS will support the study by providing an operational risk assessment. This project is targeting to conduct an actual ship-to-ship bunkering operation to a vessel in the first half of 2023.
At A.P. Moller – Maersk, we have made great progress in identifying sources of green methanol and now developing and proving we can safely deliver it to our vessels is a key priority for us. It will contribute strongly to our target of achieving net zero greenhouse gas emissions by 2040,
…said Mikkel Kannegard, Head of Maersk Oil Trading.
Yoshio Kometani, Representative Director, Executive Vice President of Mitsui said that this project aims to establish a platform for the bunkering of alternative fuel for vessels and will lead to maritime decarbonization.
Methanol presents an immediate and promising solution with practical advantages in storage, handling and carbon intensity reduction potential which is gaining traction in the market.
…said Panos Koutsourakis, ABS Director, Sustainability Strategy.
The Spokesperson of MPA said “As the world’s top bunkering and transhipment hub port, MPA welcomes the news that our shipping industry is working on the use of methanol as a potential marine fuel. We look forward to engagement with the consortium on their trial, the outcomes of which will be useful for the global transition towards sustainable shipping.”
