New methanol shipping alliance established in China

China’s Waterborne Transport Research Institute has announced a new industry alliance of 20 organizations to develop a methanol-fueled shipping supply chain.

IMAGE: Green methanol produced by VENEX is delivered via a bunker vessel to a container ship berthed at the Kwai Tsing Container Terminals. Towngas

The Methanol-Fuelled Shipping Supply Chain Innovation Alliance has been launched under China’s Ministry of Transport.

The alliance will help build industry consensus on methanol adoption, support innovation and industrial upgrading and strengthen supply chain cooperations, the institute said.

Members will work to improve coordination between fuel supply, transportation and demand.

Additionally, the alliance will also help develop plans, policies and standards to scale methanol adoption in shipping.

Some of the members in the alliance are shipping company COSCO Shipping Bulk, energy companies Sinopec Chemical and Methanex, fuel suppliers Sinopec Fuel Oil Sales and SIPG Energy and industry body Methanol Institute.

By Nachiket Tekawade

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