Asia/Pacific News
Busan Port Plans Infrastructure to Support LNG and Methanol Bunkering
South Korea’s Busan Port Authority (BPA) is moving ahead with plans to develop LNG and green methanol bunkering infrastructure at Busan New Port by 2032.
The authority held a meeting with industry and government representatives to discuss the project and gather feedback on the proposed infrastructure plan, it said in a statement on its website on Tuesday.
BPA said the project is part of its strategy to position Busan as a major supply hub for alternative marine fuels as global shipping companies face stricter emissions rules from the IMO.
The plan calls for the development of facilities on around 120,000 m2 of land in the southern container hinterland area of Busan New Port.
Proposed infrastructure includes LNG storage tanks with a capacity of 370,000 m3 and green methanol storage tanks with a capacity of 150,000 m3, along with berthing facilities for bunker vessels.
According to BPA, the infrastructure would help ensure stable supplies of cleaner marine fuels, including LNG and methanol as demand continues to grow.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| APAC Average | 1029.50 | 32.00 | 1478.50 | 13.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
Popular Now More
-
Oct 23Rotterdam's bunker sales recovered slightly in Q3 from the previous quarter, but volumes remained well below year-earlier levels. -
Oct 23The acquisition includes eight bunkering vessels and a long-term lease for 28,000 m3 of tank capacity in Turkey. -
Oct 21Trading Director Maaz Ahmed tells Ship & Bunker that the firm plans to deploy more bunker barges in the future.