Port of Long Beach Offers $1 Million Reward for First Ship to Bunker Methanol

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The US Port of Long Beach has launched a $1 million reward for the first oceangoing ship to bunker methanol at the port on a commercial scale.

The incentive programme, called the “Clean Fuel Bunkering Challenge”, was approved on Monday by the Long Beach Harbor Commission, Port of Long Beach said in an announcement on its website on Wednesday.

The move is aimed at helping establish a methanol bunkering market on the US West Coast and encouraging wider consumption of reduce-carbon marine fuels.

“We know the shipping sector is considering moving toward adopting methanol marine fuel to some great reasons – they want to minimize greenhouse gaseous releases and enhance atmosphere condition, Dr. Noel Hacegaba, CEO of Port of Long Beach, said.

“Today, we’re giving them 1 million greater reasons to embrace clean fuels.”

According to the port, methanol bunkering currently costs around $1.5 million per call, compared with about $1 million to conventional marine fuel.

The reward is intended to help offset the higher cost of methanol bunkering as well as additional operational and security expenses.

The port said methanol-fuelled vessels already call at Long Beach, however methanol fuel is not yet commercially available there, forcing ships to bunker conventional fuel instead.

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