In a pivotal development for the maritime industry's sustainability efforts, Evergreen, a prominent box shipping company, has recently taken a significant step towards greener practices. Last year, Evergreen made headlines by ordering a fleet of dual-fuel ships, and now, the company has signed a memorandum of understanding with the port of Shanghai to spearhead the development of a green methanol bunker fuel supply chain.
The agreement, formalized in December 2023, marks a crucial collaboration between Evergreen and the Shanghai International Port Group. This strategic partnership aims to ensure a reliable supply of green methanol bunker fuel for Evergreen's dual-fuel ships.
Shanghai International Port Group's Role:
The Shanghai International Port Group is set to play a pivotal role in this initiative. The group will handle the physical supply of green methanol and bunkering services for Evergreen's dual-fuel ships. This comprehensive approach is designed to establish a robust and sustainable green methanol supply chain within the maritime sector.
Developing a Green Methanol Supply Chain:
Evergreen's collaboration with the port of Shanghai reflects a broader commitment to developing a green methanol supply chain. This move aligns with the global maritime industry's efforts to reduce its environmental impact by transitioning towards cleaner and more sustainable fuel alternatives.
Understanding Blue, Black, and Green Methanol:
To comprehend the significance of Evergreen's move towards green methanol, it's essential to differentiate between blue, black, and green methanol:
Blue Methanol: Produced from natural gas through a process called methane reforming, blue methanol is considered a cleaner alternative to traditional fossil fuels. However, carbon capture and storage (CCS) technologies are employed to mitigate its carbon emissions.
Black Methanol: Derived from traditional fossil fuels, black methanol does not undergo carbon capture and storage, making it less environmentally friendly compared to blue and green methanol. It represents a conventional but less sustainable option.
Green Methanol: Produced from renewable sources such as biomass, green methanol is the most environmentally friendly option. The production process typically involves utilizing carbon dioxide from the atmosphere or industrial processes, resulting in a carbon-neutral or even carbon-negative fuel.
ABCAP Conclusion:
Evergreen's partnership with the port of Shanghai to advance the development of a green methanol supply chain marks a significant stride toward a more sustainable future in the shipping industry. This collaborative effort not only positions Evergreen as a trailblazer in environmentally conscious shipping practices but also underscores the industry's commitment to reducing its carbon footprint. Commending all companies actively engaging in such initiatives, the move towards green methanol represents a collective commitment to fostering a cleaner and more eco-friendly shipping sector.
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