Asia/Pacific News
North Sea Trading Seeks Offtake Buyers for 700,000 mt/yr Indian Green Methanol Project
- North Sea Trading seeking offtake buyers for green methanol from two planned plants in Maharashtra and Gujarat
- Phase one at CIST Technology Solutions' Maharashtra complex raised to 200,000 mt/yr, with 500,000 mt/yr more in phase two, says Robert Preston
- Deliveries from December 2028; fuel to be made from agricultural residues under ISCC EU certification
- Preston, ex-OW Bunker and Prima Marine, appointed head of renewable fuels
UK bunker trading firm North Sea Trading is seeking additional buyers for offtake agreements covering green methanol from two planned plants on India's west coast, for which it acts as exclusive sales agent to producer CIST Technology Solutions.
Robert Preston, the firm's newly appointed head of renewable fuels, told Ship & Bunker by email that first-phase capacity at CIST's complex in Maharashtra, close to Mumbai, has been raised to 200,000 mt a year from the originally planned 50,000 mt a year, following its tie-up with North Sea Trading.
A second phase of 500,000 mt a year would take the total to 700,000 mt a year of green methanol meeting EU and IMO standards, with the capacity split between Maharashtra and a second site in Gujarat.
"The goal is to cater to different sets of ports in each region and diversify the sources of biomass feedstock," Preston said.
Deliveries from the first phase are due to start in December 2028, he added.
The fuel will be produced mainly from agricultural residues and other eligible biomass, with the final mix depending on availability.
CIST intends to certify it under ISCC EU with a view to meeting FuelEU Maritime and IMO requirements, according to Preston.
CIST has already tied up "a major part" of the first-phase output with North Sea Trading and is signing mandates for the remaining phase one and phase two volumes, he said, describing pricing as "highly competitive" against current green shipping fuel prices benchmarked in Singapore and Europe.
North Sea Trading describes CIST as an accredited Indian green fuels company that was recently awarded a contract by state power producer NTPC to build the country's first commercial-scale municipal solid waste-to-hydrogen project, a facility CIST's website locates at NTPC's NETRA research centre in Greater Noida.
Preston has worked in the bunker industry since 1987, and was managing director of OW Bunkers UK Ltd and OW Bunkers India Pvt Limited, and head of global trading at Prima Marine.
The Bournemouth-based firm, registered in England, operates a bunker trading platform offering live prices, cargo trading, carbon credits, and credit terms, according to its website.
The company can be contacted at [email protected].
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 865.50 | 8.50 | 1289.50 | 14.50 |
| Rotterdam | 686.50 | 12.00 | 1390.00 | 40.00 |
| Houston | 740.50 | 7.50 | 1388.00 | 1.50 |
| Fujairah | 963.50 | 12.50 | 1666.50 | 19.50 |
| APAC Average | 999.00 | 0.00 | 1492.50 | 1.50 |
| Global 20 Ports Average | 876.00 | 6.00 | 1520.50 | 13.50 |
| Global 4 Ports Average | 814.00 | 10.00 | 1433.50 | 18.00 |
| Global Average Bunker Price | 935.00 | 3.00 | 1594.00 | 14.00 |
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