Singapore is poised to supply over 1 million metric tons of low-carbon methanol annually by 2030 to address the increasing demand for alternative bunker fuel.
As Reuters reports, Amy Khor, a senior minister of state, announced at the Singapore Maritime Week conference that the Maritime and Port Authority (MPA) has received submissions from companies with the potential to meet this supply target. The MPA began seeking proposals last year for supplying methanol as a marine bunker fuel starting in 2025.
Khor indicated that these submissions demonstrate the industry’s readiness to scale up methanol bunker demand in the coming years. The port authority will release more details on the findings on Wednesday, which will inform the development of a regulatory framework for methanol bunkering. National standards for supplying methanol as a marine fuel in Singapore are anticipated to be published in 2025, Reuters notes.
The interest in methanol bunkering is growing globally as the shipping industry strives to meet carbon emission reduction targets. Singapore, as the world’s largest bunkering hub, conducted its first bio-methanol refuelling operation for a Maersk ship in July of the current year.
