(Yicai) July 1 -- Shanghai is stepping up its bid to become a global green shipping fuel hub with the launch of China's independently developed international certification system for green marine fuels and plans for a dedicated trading platform.

The initiatives complement the city's existing green fuel bunkering services, creating an integrated ecosystem covering certification, trading, and bunkering as the global shipping industry steps up decarbonization efforts. Industry participants say these three pillars are essential for strengthening Shanghai's position as an international shipping center amid the sector's green transition.

The announcements were made at the Shanghai International Shipping Green Fuel Sustainable Development Conference yesterday. At the event, the Global Sustainable Transport Innovation and Knowledge Center, a think tank under China's transport ministry, signed agreements with Shanghai government agencies and state-owned enterprises to establish and operate the International Certification System Affairs Center for Green Marine Fuels, officially launching China's independently developed GSTC Green Marine Fuel International Certification System.

Shanghai's green fuel bunkering center has made the fastest progress, followed by the certification center, while the trading center remains at an early stage, according to local transportation officials.

The Shanghai Shipping Exchange and several other institutions and companies also signed agreements to jointly establish the Shanghai International Shipping Green Fuel Trading Platform. Meanwhile, government agencies and companies from Shanghai and the northeastern provinces of Jilin and Liaoning signed a framework agreement to develop a cross-provincial green methanol supply network.

Building the Three Pillars

Several industry executives told Yicai that Shanghai's international shipping center is undergoing a structural transformation driven by the shipping industry's green transition, making it increasingly important to accelerate the development of green fuel certification, trading, and bunkering services.

Wang Dajun, deputy director of the Science, Technology and Information Division at the Shanghai Municipal Transportation Commission, told Yicai that the certification, trading, and bunkering centers are three indispensable pillars of Shanghai's integrated green fuel service system. Construction of the bunkering center is progressing the fastest, followed by the certification center, while development of the trading center remains at an early stage.

Shanghai Port has established a dual-fuel bunkering system for liquefied natural gas and green methanol, making it one of the few ports worldwide capable of conducting simultaneous ship-to-ship bunkering for LNG- and methanol-powered vessels. Its bunkering business continues to expand.

Zhang Da, general manager of SIPG Energy Service, a maritime fuel unit of the operator of the Port of Shanghai, said that the port has supplied more than 1.9 million cubic meters of LNG and over 110,000 tons of methanol since launching its green fuel bunkering business in 2022, as of the end of May.

Editors: Tang Shihua, Emmi Laine