Singapore Receives 50 Proposals To Increase Green Methanol Supply

83

  • Singapore forcecast methanol bunkering demand to exceed 1 million tonnes by 2030 and received a strong response to an expression of interest (EOI) to supply the fuel.
  • The EOI had received over 50 proposals to provide methanol bunkering during in a presentation to the Singapore Maritime Week conference.

A total of 50 companies have shown an interest in helping to establish methanol bunker supply in Singapore, reports Seatrade Maritime News.

Establishing methanol bunker supply in Singapore

The Maritime and Port Authority launched an expression of interest process last year for the supply of methanol as a marine fuel in Singapore. The regulator received a total of 50 submissions, the MPA said in a statement on its website on Wednesday.

Over 60 regional and international companies comprising energy companies, fuel suppliers, traders, bunker operators, and storage companies, participated in the EOI, signalling clear business confidence in Singapore as a key offtake location for methanol by international shipping,” the MPA said.

The proposals received provide strong indications that the industry is preparing for methanol bunker demand to scale up in the coming years, most notably seen in the scheduled delivery of Type II bunker tankers capable of supplying methanol this year.”

Singapore’s authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe!

Source: Seatrade Maritime News