Scotland-based Global Energy Group has commissioned a newbuild methanol bunker tanker to enter service the end of 2023 in Singapore.
The 4,000t deadweight vessel will be built by Japan's Sasaki Shipbuilding and classified by Bureau Veritas. In addition to methanol, the vessel will be also able to deliver biodiesel for bunkering.
According to the Maritime and Port Authority of Singapore, Global is among the top nine bunker suppliers by volume of marine fuel sold in 2021, out of 41 licensed Singapore suppliers.
Grey methanol — which is derived from coal and natural gas — in southeast Asia was pegged at an average $84.60/t premium to very low-sulphur fuel oil (VLSFO) in Singapore, in October, Argus assessments showed. It was assessed at a $217.80/t discount to marine gasoil (MGO) in Singapore. Methanol does not have sulphur content, thus it can be used to replace both VLSFO and MGO, which have 0.5pc and 0.1pc sulphur maximum content, respectively.
Danish shipowner Maersk, Japanese trading firm Mitsui and maritime standards agency American Bureau of Shipping will carry out a methanol bunkering feasibility study in Singapore. As part of the study, they will conduct a methanol ship-to-ship bunkering operation in the first quarter of 2023.
