The three parties have entered into strategic cooperation agreement to develop green methanol production and sales integration project at Bairin Left Banner, Chifeng city, Inner Mongolia, which will be able to produce 200,000 tonnes methanol per year.
CGN New Energy Holding will be engaged in methanol production, China Marine Bunker will in charge of sales for ocean-going vessel fuel supply, and Cosco Shipping Logistics & Supply Chain Management will be responsible for the transportation and warehousing of green methanol.
Cosco Shipping has 12 ultra-large methanol dual fuel container ships on order and is converting another four vessels. While methanol has become the alternative fuel of choice for container shipping there are concerns over the production and availability of green methanol.
Last year, Cosco Shipping, State Power Investment Corporation Limited (SPIC), Shanghai International Port Group, and China Certification & Inspection Group, signed the Memorandum of Cooperation on the construction of a green methanol industrial chain, for promoting the production, transportation, refueling, and certification of green methanol for ships.
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