ITOCHU Corporation supplies low-carbon methanol to NYK’s ‘Green Future’ bulk carrier

ITOCHU Corporation on Tuesday (30 September) said it has sold low-carbon methanol fuel to Nippon Yusen Kabushiki Kaisha (NYK) and performed a ship-to-ship bunkering operation for Green Future, a methanol dual-fuel bulk carrier regularly chartered by NYK Group company NYK Bulk & Projects Carriers Ltd, at the Port of Ulsan in South Korea on 28 September.

“The marine transportation industry is responsible for a percentage of global greenhouse gas (GHG) emissions and the volume of cargo shipped is expected to increase as the global economy expands,” it stated.

“The reduction of the use of carbon-emitting marine fuels is an urgent issue. The International Maritime Organization (IMO) has created a strategy for reducing GHG emissions, and it has been working to achieve net-zero GHG emissions from international shipping by around 2050.

“The Japanese government also encourages the introduction of alternative fuels with the goals of reducing GHG emissions by 46% versus the fiscal 2013 level by 2030 and achieving carbon neutrality by 2050.”

According to ITOCHU, the low-carbon methanol fuel recently supplied is made from biomass-derived raw materials, and it is expected that the GHG emissions throughout the life cycle of the fuel will be less than that of conventional fuels.

Methanol fuel is in a liquid state at normal atmospheric temperatures and pressures, which makes using existing infrastructure relatively easy. The popularity of methanol fuel is expected to increase in the future together with the popularity of dual-fuel carriers.

ITOCHU will use this opportunity to accelerate the development of a supply chain for low-carbon alternative fuels in the marine transportation sector and the energy transition whose roots are in the real demand that exists for it.

Photo credit: Ulsan Port Authority
Published: 2 October 2025