China: SIPG and Evergreen Marine ink deal for green methanol bunker fuel supply
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Shanghai International Port Group (SIPG) and Taiwanese shipping major Evergreen Marine Corporation on Wednesday (13 December) signed a memorandum of understanding (MoU) to cooperate on green methanol bunker fuel supply for ships in Shanghai Port.
According to the agreement, SIPG will provide green methanol procurement, supply and bunkering services for the dual-fuel methanol ships that Evergreen plans to receive from 2026 to 2027, jointly creating a low-carbon, environmentally friendly environment in the Asia-Pacific region energy hub port.
Gu Jinshan, Secretary of the Party Committee and Chairman of SIPG, and Zhang Yanyi, Chairman of Evergreen, held the signing ceremony via video conference.
SIPG said the signing of the green methanol cooperation memorandum is a milestone in the cooperation between the two parties and an important milestone of SIPG’s efforts to build a green methanol industry chain, develop green and low-carbon emerging industries, promote industry energy transformation, and promote high-quality development.
Gu Jinshan emphasised that this signing will promote a closer relationship between SIPG and Evergreen. The two parties will work together in actively exploring green shipping.
Zhang Yanyi said that the cooperation with SIPG will effectively boost Evergreen’s confidence in coping with the future green methanol fuel market.
Manifold Times previously reported Evergreen announcing it has ordered 24 methanol dual fuel containerships from two Asian shipyards, worth up to USD 5 billion.
In two stock exchange filings with Taiwan Stock Exchange filed on 11 July, Evergreen announced, on behalf of its subsidiary Evergreen Marine (Asia) Pte Ltd, it has ordered 16 units of 16,000-TEU container vessels from South Korean shipyard Samsung Heavy Industries costing USD 180,000 to USD 210,000 per vessel. The total cost is expected to be between USD 2.88 billion and 3.36 billion.
Related: Evergreen orders 24 methanol dual fuel boxships from two Asian shipyards
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: Evergreen Marine Corporation
Published: 3 January, 2024
