Asia/Pacific News
China Sets Alternative Fuel Bunkering Targets for Shanghai by 2030
China has set targets for Shanghai to scale up bunkering of LNG, methanol and biofuels by 2030 under a new national plan to build the city into a hub for alternative marine fuel bunkering.
The blueprint, released on February 10 by multiple ministries including the Ministry of Transport and the National Development and Reform Commission, calls for Shanghai to reach LNG bunkering capacity of 1 million m3/year by the end of the decade, Shanghai Municipal Authority said in a press release last Thursday.
This is equivalent to 450,000 mt/year of LNG bunker volumes.
The plan also sets a target of 1 million mt/year of supply for methanol and biofuels by 2030.
Ship & Bunker had previously reported that about 4.55 million mt of bunker fuel was sold in Shanghai last year, up 9.5% on the year.
The port also saw 10,000 mt of methanol supplied to ships last year, which was significantly higher than Singapore’s 3,000 mt.
Authorities plan to develop production, storage, transport and bunkering infrastructure across key areas, including Yangshan Port, the Yangtze River estuary and Hengsha Island, supported by coordinated deployment of bunker vessels, shore stations and tank trucks.
The plan also proposes regulatory changes, such as cross-port operations for bunkering vessels and allowing biofuel blending within bonded zones to improve supply flexibility.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 490.50 | 6.00 | 676.50 | 6.50 |
| Rotterdam | 456.50 | 6.00 | 682.00 | 6.50 |
| Houston | 457.50 | 2.00 | 657.50 | 3.00 |
| Fujairah | 478.00 | 2.00 | 745.50 | 2.50 |
| APAC Average | 573.50 | 1.50 | 784.00 | 1.50 |
| Global 20 Ports Average | 512.50 | 2.50 | 765.50 | 3.00 |
| Global 4 Ports Average | 470.50 | 4.00 | 690.50 | 5.00 |
| Global Average Bunker Price | 554.50 | 0.50 | 803.50 | 2.00 |
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