In New York, Ship Technology reported that Ulsan Port in South Korea is preparing to expand its use of sustainable marine fuels after signing a $17.6m deal with Hyundai Oil Terminal Corporation to establish an alternative fuels supply chain centered at the port.
The equity investment agreement signed by Ulsan Port Authority will see the port expand its storage tanks dedicated to alternative fuels, such as green methanol, and seek to establish green corridors with other ports, according to the report.
UPA President Kim Jae-gyun said: “We will be operating eco-friendly ships based at Ulsan Port, contributing to decarbonization and creating new growth engines for Korea’s shipping and port industry by establishing green shipping corridors between Korea and the US.”
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Tags: green methanol, South Korea, Ulsan Port
Category: Fuels
