Asia/Pacific News
MOL-Led Group Completes Japan's First Ship-to-Ship Methanol Bunkering
Japanese shipping company Mitsui O.S.K. Lines (MOL) has completed Japan’s first ship-to-ship (STS) methanol bunkering operation at anchorage together with four partners.
The fuel transfer took place in the Yokohama district of Keihin Port, where methanol was supplied from the Eika Maru to the Kohzan Maru VII, MOL said in a press release on Monday.
MOL worked with the City of Yokohama, Kokuka Sangyo, Idemitsu Kosan and Mitsubishi Gas Chemical Company on the operation, referred to collectively as the ‘five parties'.
The Eika Maru is a 1,259-dwt methanol bunkering vessel operated by Kokuka Sangyo, while the Kohzan Maru VII is a dual-fuel methanol carrier operated by MOL.
Both vessels are chartered by Mitsubishi Gas Chemical Company.
The biomethanol used in the bunkering operation was produced domestically at MGC’s Niigata plant and is set to supply fuel for future operations of the Kohzan Maru VII.
Methanol is increasingly being positioned as a marine fuel option to support shipping’s decarbonisation efforts. As more dual-fuel methanol vessels enter service, demand for the fuel is expected to rise.
Several operators of methanol-fuelled ships, including container line A.P. Moller Maersk, have signed offtake agreements with fuel producers and suppliers to secure methanol for their fleets.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 485.50 | 4.00 | 672.00 | 2.00 |
| Rotterdam | 452.00 | 1.50 | 688.50 | 6.00 |
| Houston | 465.00 | 7.50 | 664.50 | 7.50 |
| Fujairah | 468.50 | 2.50 | 746.00 | 2.50 |
| APAC Average | 538.00 | 3.50 | 758.50 | 0.00 |
| Global 20 Ports Average | 507.50 | 1.00 | 768.50 | 1.00 |
| Global 4 Ports Average | 467.50 | 0.50 | 693.00 | 0.50 |
| Global Average Bunker Price | 540.50 | 1.00 | 798.50 | 1.00 |
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