SIPG and Evergreen Forge Green Methanol Alliance at Shanghai Port

A Memorandum of Understanding Signals a Pioneering Collaboration for Sustainable Maritime Practices in Asia-Pacific.

Evergreen vessel

Shanghai International Port Group (SIPG) and Evergreen announced a significant milestone in the maritime sector with the signing of a Memorandum of Understanding (MoU) on December 18, 2023, marking their collaborative efforts in advancing green methanol supply and refueling services at the Shanghai port. Under the terms of the agreement, SIPG will play a pivotal role in facilitating the purchase, supply, and refueling services for Evergreen’s forthcoming fleet of methanol dual-fuel vessels, slated for delivery in 2026 and 2027.

The cooperative initiative extends beyond the immediate business interests of the two entities, as both SIPG and Evergreen share a collective commitment to champion carbon reduction measures. Together, they aim to transform the Shanghai port into a prominent low-carbon and environmentally sustainable energy hub port within the Asia-Pacific region. This ambitious goal aligns seamlessly with the broader objectives of the Shanghai Municipal government and local authorities, who have expressed robust support for the green methanol supply and refueling services.

Gu Jinshan, Chairman of SIPG, expressed optimism about the transformative impact of the MoU, emphasizing its role in fostering exploration and development of a cleaner, more efficient green shipping system. The announcement comes as Evergreen prepares to integrate 24 methanol-fueled containerships into its fleet, a substantial investment slated for construction by Samsung Heavy Industries and Nihon Shipyard. Concerns about the availability of environmentally friendly methanol fuel have been a central focus for companies adopting methanol dual-fuel technology, a challenge that this collaboration seeks to address.

Zhang Yanyi, Chairman of Evergreen, highlighted the strategic significance of the partnership with SIPG, citing increased confidence in navigating the evolving green methanol market. He emphasized the collaboration as a critical catalyst for embracing a diversified and innovative development path for ship propulsion systems.

This development follows SIPG’s earlier collaboration, established in September of the current year, with key industry players such as Cosco Shipping, State Power Investment Corporation, and China Certification & Inspection Group. The joint efforts are directed toward constructing a comprehensive green methanol industry chain, further solidifying SIPG’s position as a key player in the sustainable maritime sector.

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