Classification society Korean Register (KR) and Ulsan Port Authority (UPA) have signed an MoU to support methanol-fuelled ships and establish the South Korean port as a low-carbon, eco-friendly energy hub.
As methanol is a clean burning marine fuel, it is said to produce 99% less SOx, 80% less NOx and 25% less GHG emissions compared to conventional marine fuels. A growing number of dual-fuel methanol vessels are being ordered by international shipping companies, and in October South Korean shipping company KSS Marine took delivery of the country’s first methanol powered vessel, Savonetta Sun, a 50,000 dwt product tanker.
The agreement was made in response to the low-carbon energy transition underway in the shipping and port industries.
UPA VP JEONG Chang-gyu 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-fuelled 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-fuelled 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.
