Already, Vopak Singapore handles "almost all" of the methanol coming into the country, said Boudestijn. The bunkering hub is also expecting methanol's use to pick up following its first successful bio-methanol bunkering operation in July, which Vopak was also a part of. Singapore - the world's largest bunkering hub - had seen biofuel sales grow to 140,000 mt in 2022, eclipsing LNG sales of 16,300 mt, MPA data showed. This comes after Vopak - which owns 78 terminals across the globe - had divested in "a number of" oil distribution assets in Northwest Europe in recent years, he said. " will more be related to retrofit of our existing capacity than anything else," said Boudestijn, adding that Vopak had repurposed some fuel oil capacity in Singapore to store biofuels last year. Of course, we expect that the additional demand for methanol will start to play out in the coming years," he said. "In the short term, we make sure we migrate with the existing markets, when it comes to the expected additional take up on biofuels going into marine fuel oil. Receive daily email alerts, subscriber notes & personalize your experience.
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