Ulsan Port has taken a significant step forward in securing actual demand for eco-friendly ship fuel following its supply demonstration.
The Ulsan Port Authority announced on August 3 that it received applications for eco-friendly ship fuel supply incentives for four vessels, totaling 4,314 tons of LNG, during the month of July.
This newly established program provides up to 10 million won per vessel for foreign cargo ships receiving eco-friendly fuels such as LNG, methanol, ammonia, and hydrogen at Ulsan Port in 2026.
The Ulsan Port Authority aims to have a total of 10 participating vessels by the end of the year.
The introduction of this incentive is significant as it connects Ulsan Port's ongoing efforts in eco-friendly ship fuel supply demonstrations to actual demand.
In July 2023, Ulsan Port became the first in the world to supply 1,000 tons of green methanol to a container ship using the Pipe to Ship (PTS) method. In November of the same year, it successfully supplied methanol using the Ship to Ship (STS) method to a 16,200 TEU ultra-large container ship docked at the port for trial operations.
From late January to early February 2024, Ulsan Port supplied 3,000 tons of green methanol to a 16,200 TEU ultra-large container ship preparing for commercial operations, marking the world's first STS bunkering case for methanol-powered container ships on long-haul routes.
The variety of eco-friendly fuels is also expanding.
According to the Ulsan Port Authority, a total of 21,114 tons of methanol were supplied at Ulsan Port from 2023 to May of this year. In 2024, 3,114 tons of LNG and 600 tons of ammonia were newly included in the supply records, along with 784 tons of methanol.
Notably, in April, Ulsan Port became the first in the world to supply 600 tons of green ammonia to an ammonia-powered vessel using the PTS method at its main port's second terminal. This indicates a shift from a methanol-centric approach to include LNG and ammonia in eco-friendly ship fuel supply.
If the 4,314 tons of LNG applied for incentives are successfully supplied, the scale of eco-friendly fuel supply is expected to increase further.
Ulsan Port Authority President Byeon Jae-young stated, "Since the implementation of the incentive program, we have confirmed high interest from shipping companies in eco-friendly ship fuel. We will continue to actively support efforts to reduce the fuel conversion cost burden on shipping companies and establish Ulsan Port as a leading port in the next-generation eco-friendly ship fuel supply market."
* This article has been translated by AI.
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