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Korean Register and Ulsan Port Authority sign MoU to develop methanol bunkering in Ulsan

23 Nov 2022

Classification society Korean Register (KR) and Ulsan Port Authority (UPA) have signed a memorandum of understanding (MoU) to support methanol-fueled ships and establish the South Korean port as a low-carbon, eco-friendly energy hub, according to KR on Tuesday (22 November). 

KR said a growing number of dual fuel methanol vessels are being ordered by international shipping companies. South Korean shipping company KSS Marine took delivery of the country’s first methanol powered vessel, MV Savonetta Sun, a 50,000 dwt product tanker in October. 

The agreement was made in response to the low-carbon energy transition underway in the shipping and port industries.

Jeong Chang-gyu, Vice President of UPA, said: “UPA is actively working to make eco-friendly, and low-carbon fuels become more of a universal feature in shipping and port markets. We will support the widespread use of methanol-fueled ships and methanol bunkering in cooperation with KR using Ulsan port, one of the key energy hubs of North-East Asia.”

Both organisations will collaborate on regulatory reform, deregulation of methanol-fueled ships and methanol bunkering, utilising independent tank terminals in Ulsan as methanol storage facilities, testing methanol bunkering at Ulsan port and building methanol supply infrastructure in Korean ports.

Korean Register and Ulsan Port Authority sign MoU to develop methanol bunkering in Ulsan
Port of Ulsan

 

Photo credit: Korean Register
Published: 23 November, 2022

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