Asia/Pacific News
Singapore's Methanol Bunker Demand to Reach 1 Million MT/Year by 2030
The Maritime and Port Authority of Singapore believes methanol bunker demand in the city-state's waters will reach one million mt/year by the end of the decade.
The MPA is inviting proposals for the commercial supply of methanol as a marine fuel in Singapore, CEO Eng Dih Teo said in a LinkedIn post on Thursday.
Proposals on the following areas need to be submitted by February 29, he said:
- Sources of methanol products and associated carbon intensities (CI) below 90g CO₂e/MJ (as CI should not be higher than that of conventional marine fuels) for bunkering.
- Operating model for commercial scale methanol bunkering.
- Alternate methods to the physical transfer of methanol molecules to Singapore that can be scaled further, including the associated safeguards and means for measurement, reporting and verification
"Arising from industry feedback & demand projections, methanol demand volume in the Port of Singapore has the potential to exceed 1 million tons per annum (MTPA) before 2030," Teo said.
"MPA will continue working with industry partners and research institutes to develop the bunkering procedures, infrastructure, crew training and standards for safe and efficient bunkering.
"As a global bunkering hub, the EOI will enable the Port of Singapore to supply methanol fuel at scale to support ocean-going vessels and the global maritime community in transitioning towards green energy."
Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
Ship & Bunker this week began publishing methanol bunker prices for Singapore, as well as the other key bunkering hubs of Houston, Fujairah, and Rotterdam.
