Asia/Pacific News
Korea Ports Could Use Surplus Renewable Energy for Shipping Electrification: Report
A new report from environmental group Pacific Environment states that South Korea could use surplus renewable power to help electrify ports and reduce shipping emissions.
Renewable power in areas such as Jeju and Jeolla is sometimes being curtailed because of grid limitations, while ports still rely largely on fossil-fuel-based electricity, according to an emailed report on Thursday.
Pacific Environment said ports could become major users of excess renewable energy as South Korea expands offshore wind projects in regions including Incheon, Ulsan and Shinan.
The report comes as global pressure on ports grows following the IMO’s 2050 net-zero target and new EU shipping emissions rules.
Pacific Environment also warned that recent tensions around the Strait of Hormuz highlight the shipping industry’s dependence on fossil fuel supply chains and the risks linked to energy security and price volatility.
The group called for legal reforms, better grid planning and stronger coordination between port and energy authorities to support renewable energy-based port electrification.
The report also proposed pilot electric vessel projects on short regional routes including Busan-Fukuoka and Busan-Tsushima.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 917.00 | 10.00 | 1295.00 | 34.00 |
| Rotterdam | 742.00 | 5.50 | 1435.50 | 54.00 |
| Houston | 765.00 | 2.00 | 1408.00 | 12.00 |
| Fujairah | 986.00 | 1.50 | 1725.50 | 38.50 |
| APAC Average | 1000.00 | 4.00 | 1479.50 | 22.00 |
| Global 20 Ports Average | 902.00 | 6.00 | 1547.50 | 29.50 |
| Global 4 Ports Average | 852.50 | 4.00 | 1466.00 | 34.50 |
| Global Average Bunker Price | 950.50 | 2.50 | 1606.00 | 21.00 |
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