Singapore Sets Target For Over 1 Million Tons Of Low-Carbon Methanol Bunker Supply By 2030

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  • Singapore is aiming to supply over 1 million metric tons of low-carbon methanol annually by 2030, in response to the growing demand for alternative bunker fuel.
  • The initiative is part of the country’s efforts to support the shipping industry’s shift towards cleaner fuels.

The Maritime and Port Authority (MPA) of Singapore has been inviting proposals from companies to supply methanol as a marine bunker fuel starting in 2025. This move signals the nation’s commitment to meeting the rising demand for low-carbon methanol in the maritime sector.

Potential for Methanol Bunker Demand

The submissions received by the MPA suggest that there is a significant potential to supply over 1 million tons of low-carbon methanol per annum by 2030. The strong interest from the industry demonstrates the readiness to support the shift towards methanol as a bunker fuel.

Upcoming Methanol Bunkering Regulatory Framework

The MPA will release more details about the findings on Wednesday. This information will be used to develop a regulatory framework for methanol bunkering in Singapore. Additionally, national standards for supplying methanol as a marine fuel are expected to be published by 2025.

Growth of Methanol Bunkering Initiatives

Interest in methanol bunkering is rising globally as the shipping industry strives to meet carbon emission targets. Singapore, known as the world’s largest bunkering hub, conducted its first bio-methanol refueling operation for a Maersk ship in July 2023.

As Singapore positions itself as a leading hub for low-carbon methanol bunkering, it is expected to play a key role in supporting the maritime industry’s transition to cleaner fuels and contributing to global sustainability goals.

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Source: Reuters