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Latest marine fuels news
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Biofriends to build S Korea’s first biomethanol plant
Biofriends to build S Korea’s first biomethanol plant
Singapore, 26 August (Argus) — South Korean renewable energy producer Biofriends has signed an initial agreement with South Korean biogas company Cheongmyeong on 22 August to build the country's first commercial-scale biogas-based methanol plant, according to a press release by Biofriends. The plant is expected to produce 60,000-80,000 t/yr of biomethanol using 120,000Nm³ of domestically produced biogas generated from Biofriend's Gunsan biogas digester. Biofriends plans to use its synthesis gas conversion technology to increase the added value of the domestic biogas and partake in the shipping industry's low-carbon transition, especially given strengthening decarbonisation regulations by the International Maritime Organisation (IMO). The biomethanol will initially be supplied to domestic methanol-powered vessels and is expected to enhance the competitiveness of the country's shipping industry in line with the global trend towards a carbon-neutral shipping market and national greenhouse gas (GHG) reduction goals. A portion of the produced biomethanol will also be converted to dimethyl ether (DME), which is still considered a clean fuel that emits minimal pollutants such as sulphur oxide and nitrogen oxide and significantly reduces CO2 emissions. The DME will be used as a LPG-DME blended fuel, which has similar physical properties to LPG, and will allow for the use of existing infrastructure. The blended fuel can significantly reduce carbon emissions and contribute to achieving South Korea's carbon neutrality. Some biomethanol bunkering activities are likely to occur at South Korea's Ulsan port this year as Japanese shipping company NYK is expected to bunker its first biomethanol fuel at the port on its methanol-capable dry bulk carrier in September. South Korea's Taebaek city in 2024 also announced plans to build a 10,000 t/yr green methanol plant in collaboration with multiple companies using the government's regional revitalisation investment fund. Argus could not confirm any new developments in this Taebaek city plan. Stakeholders in this agreement include domestic clean energy firm Plagen, domestic automobile manufacturer Hyundai, utility Korea East-West Power, battery systems manufacturer Optimum Trading, Ssangyong Engineering and Construction, LF Energy, Hanbit Energy, S-Tech Korea and Infra Frontier Asset Management. Green methanol can be used in fuel blending as a low-carbon liquid fuel and is derived from biomass or captured CO2 and green hydrogen, as compared to its natural gas-derived counterpart. By Deborah Sun Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Methanol and ammonia feasible as bunker fuels: Report
Methanol and ammonia feasible as bunker fuels: Report
Sao Paulo, 20 August (Argus) — Methanol and ammonia continue to gain traction in the marine fuels sector, while the former has proven to significantly reduce the amount of greenhouse gas (GHG) emissions and the latter has proven viable for installation, a new report by non-profit Global Maritime Forum (GMF) said. Both fuels are alternatives for ship operators to comply with lower greenhouse gas (GHG) emissions regulations, such as the FuelEU Maritime and the International Maritime Organization (IMO) Net Zero Framework, because they can become zero-emission fuels if converted into e-fuels by using hydrogen, the report highlighted. Methanol The next step for methanol development is expanding the supply chain with new bunkering points in ports around the world, because it is currently insufficient for most global shipping routes, GMF said. More than 60 methanol-capable vessels are in operation this year, with 300 more on order and bunkering available at around 20 ports. The methanol market needs an increase in the availability of green methanol for producers, because its feedstock is scarce in the bunkering sector and new ships are already being built. In the first half of 2025, 40 new methanol-fueled vessels were ordered , Norway-based classification agency DNV said. GMF said that when availability improves, conventional-powered vessels could retrofit to methanol at low costs, since the engines are easily adapted to the green fuel. Ammonia The next steps for ammonia are to confirm its safety for bunkering operations and to build a fleet of ammonia-fueled ships. The fuel needs to be supplied on a commercial scale for bunkering in key ports, the report said. Blue ammonia, made from nitrogen and 'blue' hydrogen derived from natural gas, may play a bigger role in bunkering than green ammonia because of lower costs and greater availability before 2030. But uncertainties about the IMO framework, which should be finalised in October, are causing engine manufacturers to hold their ammonia dual-fuel engine design. Only three ammonia-fueled vessels were ordered in the first half of 2025, DNV said. By Natália Coelho and Gabriel Tassi Lara Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Middle East, US pushback unlikely to stop IMO plan
Middle East, US pushback unlikely to stop IMO plan
New York, 15 August (Argus) — Sixteen governments that opposed the International Maritime Organisation (IMO)'s greenhouse gas (GHG) pricing plan at the April MEPC 83 meeting could formally opt out when the measure is up for adoption in October, bypassing MARPOL Annex VI rules. Such a move could spare them higher sustainable fuel costs but leave their fleets facing market barriers in ports of compliant countries. The 16 opposition countries included the Middle East countries of Bahrain, Iran, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, UAE and Yemen, as well as Indonesia, Malaysia, Pakistan, Thailand, Russia and Venezuela. The group includes major oil exporters and is influential in global fuel supply, but holds a smaller share of global fleet tonnage than supporters of the measure. In 2024, the deadweight tonnage of the global merchant fleet, comprised of vessels exceeding 1,000 gross tonnes, was at 2.4bn t, according to Clarkson Research Services, the research arm of ship broker Clarksons. Of this quantity, the IMO plan opposition countries accounted for 184mn t of the merchant fleet deadweight or only 7.6pc, with the UAE on top of the count with 57.4mn t, or 2.4pc (see chart) . The US, which did not vote in April, publicly rejected the IMO's net-zero framework on 12 August, warning that the regulation would raise fuel costs, burden shipping and trigger reciprocal charges on foreign ships calling at US ports. Those costs would likely be passed to US consumers, a Chile-based shipowner told Argus in April . US' merchant shipping fleet deadweight accounted for 1.9pc of the global fleet in 2024, according to Clarkson. President Donald Trump's term ends on 20 January 2029, a year after the IMO measure takes effect on 1 January 2028. A change in the US administration could reverse US policy, mirroring the US' withdrawal from the Paris Climate Agreement during Trump's first term and later re-entry into the Agreement during President Biden's term. Twenty-four countries abstained at MEPC 83, among them Pacific island states Fiji, Kiribati, Marshall Islands, Nauru, Palau, Tonga, Vanuatu, Seychelles, Solomon Islands and Tuvalu, as well as Uganda, Ghana, Egypt and Argentina. The Pacific islands criticised the regulation for lacking climate ambition. Abstentions do not count toward the two-thirds majority needed. If 103 countries attend in October and 24 abstain, only 79 votes are counted, requiring 53 to pass, fewer than the 63 affirmative votes already secured. Enforcement reach Opting out of the IMO regulation would not shield non-compliant vessels from enforcement abroad. The 63 IMO directive supporters, including the EU, UK, China, India, Japan, South Korea, Brazil, Singapore, Norway, Canada and South Africa, could choose to inspect, detain or bar non-compliant vessels. EU ports applying the FuelEU Maritime and EU ETS regulations could also impose surcharges or entry restrictions on ships exceeding GHG thresholds. Charterers with emissions targets are expected to avoid non-compliant vessels, and insurers may raise premiums or decline cover. Greece, China and Japan's merchant vessels, alone had total of 1.1bn t deadweight, or 46.5pc of the global merchant fleet deadweight, according to Clarkson. Singapore, South Korea and Norway accounted for 304.1mn t deadweight, or 12.6pc. Not all IMO regulation supportive countries may enforce the measure equally, leaving scope for IMO opposition states to gain freight cost advantages. In the first half of 2025, China and Singapore, both IMO regulation supporters, sourced 50pc (172.6mn t) and 35pc (25.0mn t) of their crude and petroleum product imports, respectively, from Middle East states opposing the IMO regulation, showed shiptracking data from Vortexa. By Stefka Wechsler 2024 global Merchant fleet dwt, 2.4bn t % Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US won’t accept IMO bunker fuel levy: State Department
US won’t accept IMO bunker fuel levy: State Department
Sao Paulo, 12 August (Argus) — The US will not accept the global greenhouse gas (GHG) pricing mechanism proposal that is expected to be approved at the International Maritime Organization (IMO) in October, the US State Department said. In a statement signed by US officials including secretary of state Marco Rubio and secretary of commerce Howard Lutnick, the US claims that IMO's Net-Zero Framework is a "global carbon tax" and that US president Donald Trump will not accept anything that "unfairly burdens the United States or harms the interests of the American people." It adds that the levy would benefit China by requiring the use of alternative bunker fuels. The IMO's proposal, approved in April by 63 nations , sets two targets for GHG emission reductions: a base level reduction and a direct compliance target. Both start in 2028 and grow until reaching reductions of 30pc and 43pc, respectively, by 2035 compared to 2008 levels. The US delegation was absent during the 83rd IMO Marine Environment Protection Committee (MEPC) meeting in April where the measure was passed. "Our fellow IMO members should be on notice that we will look for their support against this action and not hesitate to retaliate or explore remedies for our citizens should this endeavor fail", the statement said, without giving further explanation. By Natália Coelho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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