The supply of ship fuel will be categorized based on fuel type, with new standards requiring dedicated vessels for eco-friendly ship fuel supply.
The Ministry of Oceans and Fisheries announced that a revised enforcement decree of the 'Port Transportation Business Act' was passed during a Cabinet meeting on September 22. This amendment aims to establish a stable supply foundation for eco-friendly ship fuel and improve initial market entry conditions, given the insufficient number of dedicated supply vessels.
Initially, the ship fuel supply industry will be divided into 'eco-friendly ship fuel supply' and 'general ship fuel supply,' creating a new category for eco-friendly ship fuel supply.
Additionally, registration criteria for eco-friendly ship fuel supply businesses will require that vessels used for supplying eco-friendly ship fuel be equipped with structures and safety facilities appropriate for the fuel's characteristics.
However, to encourage initial market entry before sufficient dedicated supply vessels are secured, existing transport vessels used in maritime cargo transport under the 'Shipping Act' will be temporarily allowed to operate as eco-friendly ship fuel vessels. Methanol and ammonia will be permitted until 2028 and 2030, respectively, while liquefied natural gas (LNG) will have no time restrictions.
The government plans to enhance the competitiveness of ports by establishing a stable supply chain in response to the diversification of ship fuels.
Kim Hye-jung, Director of the Shipping and Logistics Bureau at the Ministry of Oceans and Fisheries, stated, 'This revision of the enforcement decree establishes registration criteria suitable for the characteristics of eco-friendly ship fuel and allows for flexible use of existing eco-friendly fuel transport vessels, considering the initial market conditions where dedicated supply vessels are lacking.'
* This article has been translated by AI.
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