Mitsui, partners plan methanol bunkering in Singapore
SUMMARY
The project participants plan to establish a stable alternative fuel supply chain for maritime decarbonisation in Singapore.
By Shardul SharmaPOSTED IN:
Mitsui & Co., Mitsui & Co. Energy Trading Singapore, Maersk Oil Trading (MOT) and American Bureau of Shipping (ABS) have agreed to jointly conduct a detailed feasibility study of methanol bunkering logistics in Singapore, Mitsui said on October 4.
This joint project is in line with the International Maritime Organisation's (IMO) initial strategy to halve greenhouse gas (GHG) emissions within the shipping industry by 2050 compared to 2008 levels, MOL said, which is also aligned with the direction of the Maritime and Port Authority of Singapore (MPA) to achieve decarbonisation of the maritime industry in Singapore.
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 utilising 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 on a vessel in the first half of 2023.
