SIPG and Evergreen ink green methanol supply agreement

According to the agreement, SIPG will provide green methanol purchase, supply and refueling services for Evergreen’s methanol dual-fuel vessels which are scheduled for delivery during 2026 and 2027. The two parties have also agreed to jointly promote carbon reduction and construct Shanghai port to be a low-carbon and environment-friendly energy hub port in Asia-Pacific region.

Green methanol supply and refueling services have gained strong support from Shanghai Municipal government and local authorities. Signing of the MoU will promote SIPG and Evergreen to explore a cleaner and more efficient green shipping system, said Gu Jinshan, chairman of SIPG.

Evergreen has 24 methanol-fuelled containerships on order from Samsung Heavy Industries and Nihon Shipyard. One of the biggest concerns for companies ordering methanol dual-fuel tonnage is the supply of green or blue methanol fuel which remains in its infancy.

Zhang Yanyi, Chairman of Evergreen said, the cooperation with SIPG will effectively boost our confidence to cope with the future green methanol market and a diversified and innovative development path for ship propulsion systems.

In September this year, SIPG established cooperation with Cosco Shipping, State Power Investment Corporation and China Certification & Inspection Group to build a green methanol industry chain.

Related:Evergreen to invest $5 billion in methanol-fuelled containerships