GET and Stellar to build 1st dedicated methanol bunkering ship in Singapore
Singapore-based bunker supplier Global Energy Trading, and Stellar Ship Management Services, wholly-owned subsidiaries of Global Energy Group, together with Bureau Veritas classification society, have entered into an agreement for the construction of a methanol bunkering ship.
The order was confirmed at a signing ceremony in Osakikamijima, Hiroshima, Japan, on 18 October 2022. The vessel will be built by Sasaki Shipbuilding Co., based in Hiroshima, Japan.
The 4,000 DWT IMO Type 2 chemical and oil tanker, which will be classed by BV, will be the first dedicated methanol bunkering ship in Singapore.
The new tanker will join GET’s fleet by the end of 2023, becoming the first Category A bunkering tanker for carriage of biofuel and methanol in Singapore. GET is licensed to provide bunker supply services in Singapore and UAE. The company provides a full range of marine fuels which will soon include biofuel (beyond Bio25) and methanol in 2024.
A dedicated team from Stellar, which is in charge of providing full technical management, and crewing services for the fleet of 20 tankers owned by the Global Energy Group, will supervise the construction of the bunkering tanker.
“We have made an important step to support the industry’s effort on carbon emissions reduction by introducing alternative and green fuel bunkering supply chain solutions. The new tanker could pave the way for the next generation of a more versatile bunkering tanker,” Mr. Loh Hong Leong, Group Managing Director of Global Energy Group, said.
Vince Koh, Group General Manager of Global Energy Group, added that with this IMO Type 2 chemical and oil tanker added to the fleet, it will widen the scope of the company’s services to meet the needs of shipowners in support of their carbon reduction and ESG initiatives.
“Methanol as bunker fuel will add a new dimension to the bunkering industry in Singapore, we are pleased to work with Authorities, Class BV and relevant industry experts to develop methanol bunkering procedures and standards for the safe bunkering and STS operations,” Kelvin Kang, General Manager of Stellar Shipmanagement, said.
“As the industry explores alternative fuel options to support its decarbonization journey, developing the industry’s supply and bunkering capacities will be an essential step to scale up and ensure the availability of these new fuels,” David Barrow, Vice-President South Asia and Pacific, Bureau Veritas Marine & Offshore, commented.
“We are delighted to collaborate with GET and Stellar as they develop this new vessel, which will be a key step to support the delivery of methanol to vessels calling at Singapore.”
Methanol has a number of benefits when compared to other zero-carbon options being considered, the most notable being its maturity from a technical perspective.
Its key benefits also include its density, which doesn’t affect the load capacity of ships, as well as the ease of handling and storage.
The container shipping sector, overall, has been at the forefront of the shipping’s decarbonization efforts, with industry majors such as Maersk, CMA CGM, and most recently COSCO ordering the bulk of vessels powered by methanol.