Singapore Methanol and Global Energy shake hands on sustainable marine fuel solutions

Global Energy Overseas, a subsidiary of Global Energy International, has signed a memorandum of understanding (MoU) with Singapore Methanol to advance sustainable maritime fuel solutions.

The MoU will see the two companies combine their expertise to develop and promote bio-methanol as a commercially viable, eco-friendly bunker fuel option, with an overall aim to support the decarbonization of the shipping industry.

Specifically, Global Energy and Singapore Methanol will collaborate on projects including FuelEU Maritime compliance pooling, green methanol storage and distribution, and exploration of advanced alternative marine fuels.

The companies underlined that these initiatives align with their shared commitment to reducing greenhouse gas (GHG) emissions and meeting regulatory requirements for carbon intensity reduction.

Charles Shang, CEO of Singapore Methanol, commented: “This partnership is a major step in advancing Singapore as a key player in the global green methanol landscape. We’re excited to leverage our expertise to bring innovative, sustainable fuel solutions to the maritime sector.”

Loh Hong Leong, Managing Director of Global Energy Overseas, added: “Global Energy is committed to providing reliable, forward-thinking fuel solutions for a sustainable future. Working with Singapore Methanol opens new doors for collaboration on low-emission fuels, helping our clients meet regulatory standards while contributing to a greener industry.”

This partnership comes at a time when Singapore, the world’s busiest transshipment hub and largest bunkering port, reports a growing demand for greener fuels as it continues streamlining efforts towards a multi-fuel future.

Bunker sales in Singapore reached a record 51.8 million tonnes in 2023, surpassing the previous high, with alternative fuels accounting for 1.2% of the sales.

In July 2023, the world’s first ship-to-containership methanol bunkering operation on board the Laura Maersk was conducted in the Port of Singapore. 

In December 2023, Singapore welcomed its first methanol bunkering vessel, the MT Maple built by Sasaki Shipbuilding in Japan.