China: Green Marine to develop world’s first methanol bunker fuel trading platform in Lin-gang

The Lin-gang Special Area Administration on Tuesday (2 April) signed a cooperation agreement with multi-disciplinary methanol consultancy Green Marine Group, for the development of the world’s first methanol bunker fuel trading platform. 

Morten Jacobsen, Founder and CEO of Green Marine Group, and Chen Jinshan, Standing Committee Member of the Municipal Party Committee, Secretary of the Party Working Committee of Lin-gang Special Area and Director of the Administration, attended and witnessed the signing ceremony. 

Green Marine Group will develop a methanol marine fuel trading platform for the Lin-gang Special Area to provide upstream and downstream enterprises in the green shipping industry chain with effective tools to manage forward price risks and promote physical transactions of green methanol.

The district will also allocate green fuel resources in both international and domestic markets and build a world-leading green shipping service ecosystem. 

The Green Marine Group will also set up the country’s first green methanol training and certification centre in Lingang to provide support for Shanghai to carry out ship-to-ship (STS) methanol bunkering of international sailing ships and help Shanghai to accelerate quality shipping services.

Lin-gang Special Area is actively promoting the green and low-carbon transformation of the international shipping industry. 

On March 1, the Lin-gang Special Area Industrial Alliance for Green Shipping was jointly initiated by the Lin-gang Special Area Administration, Cosco Shipping, State Power Investment Corporation Limited (SPIC), SIPG, China Classification Society, and the Methanol Institute.

Covering 20 relevant units and institutions including shipping and port enterprises, green new energy production and preparation enterprises, green marine fuel suppliers, carbon footprint monitoring and carbon trading institutions, and industrial funds.

The alliance will promote the green and low-carbon transformation of the international shipping industry, exchanges and cooperation between the upstream and downstream of the industrial chain, the formulation of green new energy standards and technology research and development, and contribute to Shanghai Port’s improvement of the green shipping industry chain ecology.

Manifold Times previously reported International Bunker Industry Association (IBIA) and Green Marine signing a cooperation agreement to develop a methanol bunkering training programme to further the cause of a skilled and competent bunker workforce, with support from the Methanol Institute.

The plan was to commence the training in Singapore first and expand globally in 2024.

The Methanol Institute also welcomed Green Marine as its member last year.

Lloyd’s Register (LR) joined forces with Green Marine to offer value-adding solutions to maritime stakeholders that aim to build or retrofit and operate vessels with methanol-as-fuel technology, with a prime focus on training.

Green Marine developed experienced-based training delivered by ex-captains and chief engineers with over 100,000 hours of onboard operational experience in methanol dual-fuelled ships. This, coupled with LR’s expertise around rules, risk assessment and risk management, as well as human factors, provides an end-to-end support that is expected to create significant value in practice.

Furthermore, TotalEnergies Marine Fuels and Green Marine Bunkering entered a memorandum of understanding (MoU) last year on a joint development study on methanol as a new marine fuel in Singapore. 

Building on the combined experience and knowledge of both companies in bunkering operations, methanol production, decarbonisation solutions and safe handling practices, TotalEnergies Marine Fuels and Green Marine Bunkering will study the feasibility to implement a viable methanol bunkering supply chain in the country.

Related: LR and Green Marine collaborate on training for handling of methanol bunker fuel
Related: IBIA, Green Marine ink deal to provide methanol bunker training, starting in Singapore
Related: Green Marine joins Methanol Institute, provides crew training for methanol dual-fuel vessels
Related: Singapore: TotalEnergies Marine Fuels, Green Marine to study methanol bunkering supply chain

Disclaimer: The above article published by Manifold Times was sourced from China’s domestic market through a local correspondent. While considerable efforts have been taken to verify its accuracy through a professional translator and processed from sources believed to be reliable, no warranty is made regarding the accuracy, completeness and reliability of any information.

Photo credit: Lin-gang Special Area Administration
Published: 4 April 2024