Pacific Basin Shipping Limited, a leading dry bulk shipping company, has entered into a Memorandum of Understanding with The Hong Kong and China Gas Company Limited (Towngas) to enhance its access to green methanol marine fuel. This collaboration is a significant step towards meeting maritime decarbonisation regulations by incorporating green methanol into Pacific Basin's fuel mix. This agreement allows for the supply of green methanol certified under international standards, supporting the company's fleet of dual-fuel low-emission vessels. Towngas plans to expand its green methanol production capacity in response to increasing demand from the shipping sector. This initiative aligns with Pacific Basin's strategy to make green fuels 5% of its fuel mix by 2030 and achieve net zero emissions by 2050.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.