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IINO Lines inks loan agreement with bank for financing of methanol dual-fuel VLCC

Company signed a loan agreement with Mizuho Bank for the Sustainable Shipping Impact Finance of a methanol dual-fuel Very Large Crude Carrier.

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IINO Kaiun Kaisha (IINO Lines) on Tuesday (31 March) said it has signed a loan agreement with Mizuho Bank for the Sustainable Shipping Impact Finance of a methanol dual-fuel Very Large Crude Carrier (VLCC).

The financing uses a unique evaluation method developed in collaboration with classification society ClassNK to assess the environmental performance of vessels eligible for financing in terms of CO2 emission reduction. Mizuho Bank will provide loans for vessels that meet certain criteria.

In addition, KPIs will be set to promote CO2 emission reduction in the operation of loaned vessels and fleets owned and managed by borrowers. Regular discussions will be conducted to support the development of decarbonisation initiatives and the realisation of positive climate impact by individual shipping companies and shipowners. 

“The vessel will be equipped with a dual-fuel main engine that can use methanol, which emits less CO2 than conventional fuel oil, as well as heavy fuel oil, and it is scheduled for delivery from 2027 onward,” the company said. 

In the shipping business, IINO Lines has set targets to reduce greenhouse gas emissions per tonne-mile by 20% by 2030 compared with FY2020, aiming to achieve carbon neutrality across the company by 2050 while actively promoting investment in innovative technologies.  

 

Photo credit: Scott Graham
Published: 1 April, 2026

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Alternative Fuels

Mureloil deploys hybrid chemical tanker for bunkering and terminal transport

After its delivery, the ship carried out its first commercial operations in the ports of Bilbao and Mugardos before being deployed to Barcelona where it will operate over the coming months.

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Mureloil deploys hybrid chemical tanker for bunkering and terminal transport

Spanish bunker service provider Mureloil on Saturday (28 February) said it has deployed Bahía Candela, a next-generation hybrid chemical tanker, for operations. 

The vessel is specifically designed for bunkering operations and terminal-to-terminal fuel transport. 

After its delivery, the ship carried out its first commercial operations in the ports of Bilbao and Mugardos. The tanker then stopped in Algeciras before starting its journey to Barcelona, where it will operate over the coming months. 

The Bahía Candela is the first of two sister vessels, with the second named Bahía Beatriz, both of which will be operated by Repsol as part of its maritime decarbonisation strategy to develop low-carbon fuel logistics including methanol and biofuels. 

Building on the success of Bahía Levante, the new vessel features a diesel-electric propulsion system combined with 4.2 MW of lithium-ion batteries, enabling fully electric port operations for up to 72 hours—including cargo handling and manoeuvring—with zero direct GHG emissions.

Related: Mureloil launches hybrid chemical tanker for bunkering and terminal transport

 

Photo credit: Mureloil
Published: 12 June, 2026

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Methanol

Agastya inks MoU with Andhra Pradesh to develop green methanol hub at Mulapeta Port

Project will establish a 1 MMTPA green methanol export-oriented unit on the East Coast of India, positioning Andhra Pradesh as a global hub for sustainable bunker fuels and green industrial products.

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Agastya inks MoU with Andhra Pradesh to develop green methanol hub at Mulapeta Port

India’s clean energy conglomerate Agastya Group recently said it has signed a strategic Memorandum of Understanding (MoU) with the Government of Andhra Pradesh for the development of Agastya’s green fuels hub at Mulapeta Port, Srikakulam District, Andhra Pradesh.

The project will establish a 1 million tonnes per annum (MMTPA) green methanol export-oriented unit (EOU) on the East Coast of India, positioning Andhra Pradesh as a global hub for sustainable marine fuels and green industrial products.

With an estimated investment of over ₹54,000 Crore (USD 6.5 billion), the Agastya Green Fuels Hub will integrate large-scale green hydrogen production, green methanol manufacturing, carbon capture, renewable energy, and port infrastructure.

“Strategically located in the Indian Ocean Region, the facility will serve key global markets including Japan, South Korea, Singapore, Europe, and other emerging green shipping corridors, supporting the decarbonization of international maritime transport and industrial sectors,” the firm said. 

The company added that the project represents a transformational step toward making India a net exporter of RFBNO RED III compliant green methanol to the world. 

Manifold Times previously reported Agastya Green Fuels signing a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol.

Related: India’s Agastya inks green methanol offtake agreement with SAR Group

 

Photo credit: Agastya Group
Published: 11 June, 2026

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Alternative Fuels

Seascale Energy and LR Advisory team up on low-carbon bunker fuels and decarbonisation

Bunker procurement firm entered into a strategic knowledge partnership with LR Advisory, focused on low-carbon fuels, FuelEU Maritime, EU ETS and IMO decarbonisation measures.

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Seascale Energy and LR Advisory team up on low-carbon bunker fuels and decarbonisation

Seascale Energy, a bunker procurement joint venture of Cargill’s Pure Marine Fuels and Hafnia’s Bunker Alliance, on Thursday (4 June) said it is continuing to strengthen its decarbonisation capabilities in response to the rapidly evolving fuel and regulatory landscape shaping global shipping.

Since its launch in May 2025, Seascale has facilitated several fuel transactions involving LNG, biofuels across various blends and green methanol demonstrating its ability to support customers beyond conventional bunker procurement, and also with emerging low- and zero-carbon fuel solutions.

To further reinforce this expertise, Seascale has entered into a strategic knowledge partnership with Lloyd’s Register Advisory (LR Advisory), focused on low-carbon fuels, FuelEU Maritime, EU ETS, IMO decarbonisation measures and the practical commercial implications of the energy transition.

As part of the first phase of the collaboration, LR Advisory recently delivered two dedicated training workshops for global Seascale teams across in both Europe and Asia, bringing together commercial and operational colleagues in both Geneva and Singapore.

The sessions focused on the evolving regulatory framework, biofuels as marine fuels, FuelEU pooling strategies, chain-of-custody requirements, emissions accounting and future fuel readiness.

The workshops also explored the realities of sourcing and managing alternative fuels, including compliance documentation, lifecycle emissions reporting and commercial risk considerations associated with biofuel adoption and emerging fuel markets. Particular attention was given to the growing importance of FuelEU Maritime and EU ETS in shaping procurement strategies and voyage economics.

The collaboration forms part of Seascale’s broader ambition to provide its members with credible, technically grounded guidance as maritime faces increasingly complex environmental regulations and fuel pathways.

Looking ahead, Seascale and Lloyd’s Register Advisory are exploring opportunities to extend elements of this knowledge-sharing initiative externally through dedicated client webinars and market-focused sessions. The objective is to help customers better understand the operational, commercial and regulatory implications of the maritime energy transition while supporting informed fuel procurement and compliance strategies.

Separately, Seascale Energy and Lloyd’s Register are also collaborating on the Bunkering Services Initiative (BSI), a technology-enabled, independently audited framework that promotes transparency in the Amsterdam-Rotterdam-Antwerp (ARA) region.

Related: Singapore-based Hafnia and Cargill launch bunker procurement JV Seascale Energy
Related: Seascale Energy procures green methanol bunker fuel for bulker “Brave Pioneer”

 

Photo credit: Seascale Energy
Published: 8 June, 2026

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