ULSAN, SOUTH KOREA | September 29, 2025 – Ulsan Port Authority (UPA) has achieved a landmark step in maritime decarbonization, successfully executing its first ship-to-ship (STS) green methanol bunkering operation for a dual-fuel bulk carrier. Conducted on September 28, 2025, the operation marks a critical expansion of Ulsan Port’s alternative fuel capabilities, targeting the traditionally hard-to-abate dry bulk sector.
Building on Ulsan’s Green Fuel Legacy
This latest success builds on Ulsan Port’s growing reputation as a sustainable fuel hub. Notably, the port previously facilitated South Korea’s—and Ulsan’s—first STS green methanol bunkering for a container vessel, when the dual-fuel ANE MAERSK was bunkered on February 5, 2024. That operation, hailed as a milestone in Asian green bunkering infrastructure, paved the way for further development of methanol fueling systems and safety procedures.
Now, with this bulk carrier-focused STS operation, Ulsan has taken the next logical step: proving that methanol bunkering can be safely and efficiently scaled beyond container ships to serve larger, fuel-hungry vessel classes.
Pioneering Operation Details
The vessel bunkered was the M/V Green Future, a dual-fuel dry bulk carrier under charter to NYK Bulk & Projects Carriers Ltd. and owned by Kambara Kisen Co., Ltd. The green methanol—produced by OCI Global and supplied via ITOCHU Corporation—was transferred ship-to-ship at Ulsan New Port’s Southern Breakwater Transfer Pier, using fuel stored at the OTK Terminal.
The operation was conducted in full compliance with STS safety protocols, reflecting Ulsan Port’s readiness to handle complex bunkering operations involving alternative fuels.
Methanol’s Expanding Role in Bulk Shipping
Green methanol is rapidly gaining momentum as a viable low-carbon fuel for international shipping. Compared to conventional marine fuels, it offers lower CO₂ emissions, near-zero sulfur content, and reduced particulate matter. Its compatibility with dual-fuel engine technology also makes it attractive for both newbuild and retrofit projects.
However, infrastructure limitations and operational risk have been barriers to widespread adoption—especially in the bulk segment, where fueling needs and operational cycles differ from liner shipping. Ulsan Port’s successful STS methanol transfer to Green Future directly addresses those concerns.
A Strategic Signal to Global Shipping
“This successful operation is more than a first for Ulsan—it’s a turning point for bulk carrier decarbonization,” stated UPA President Jae-young Byeon. “We’re proud to demonstrate that green methanol bunkering is not just feasible for container ships but also scalable for deep-sea bulkers. This positions Ulsan as a reliable, full-service hub for next-generation marine fuels.”
By de-risking commercial bunkering for a dry bulk vessel, Ulsan is providing practical proof that methanol can be deployed beyond controlled trials or liner routes. This will likely accelerate newbuild orders and retrofitting decisions across the bulk segment, which is under increasing regulatory pressure to reduce emissions.
Ulsan Port: Rising as a Green Bunkering Nexus
Ulsan, South Korea’s industrial and maritime powerhouse, is strategically investing in low- and zero-carbon fuel infrastructure. With a strong foundation in shipbuilding, petrochemicals, and logistics, the port is rapidly becoming a central node in Asia-Pacific’s sustainable shipping ecosystem.
Following earlier proof-of-concept bunkering exercises in 2023–2024 and the headline-making ANE MAERSK operation in February 2024, this bulk carrier milestone cements Ulsan’s transition from a traditional fuels hub to a future-proofed, multi-fuel port.
Ulsan Port: Korea’s Premier Energy and Industrial Logistics Hub
The Port of Ulsan, managed by the Ulsan Port Authority (UPA), stands as South Korea’s largest industrial gateway and a vital component of global maritime logistics. Strategically located on the southeast coast, Ulsan is the maritime face of the city that serves as the nation’s industrial powerhouse—specializing in shipbuilding, automotive manufacturing, and petrochemicals. Since UPA’s establishment in July 2007, the authority has led Ulsan Port’s development, building on foundations laid since its original opening in 1963.
Key Focus and Specialization
Ulsan’s strength lies in its specialization and infrastructure, particularly in handling liquid bulk cargo—making it indispensable in Korea’s energy and chemical sectors.
- Liquid Bulk Leadership: Ulsan is Korea’s No.1 port for liquid bulk cargo, supported by its proximity to massive petrochemical and refining complexes. Its infrastructure is engineered to handle high volumes of crude oil, petroleum products, and chemical liquids.
- Industrial Integration: The port is directly connected to the Ulsan National Industrial Complex, serving major players like Hyundai Motor Company (via a dedicated Automobile Pier), S-Oil, and other global energy and chemical firms.
- Northeast Asia Oil Hub: Ulsan is the designated site for South Korea’s Northeast Asia Oil Hub, a national project aimed at transforming the region into a key global hub for oil trading, storage, and logistics.
Future Vision and Sustainable Development
The UPA’s forward-looking strategy centers on sustainability, innovation, and expansion, encapsulated by the vision: “A leading eco-smart port for energy logistics.”
- Decarbonization and Alternative Fuels: Ulsan is positioning itself as a global hub for sustainable marine fuel bunkering. Following initial demonstrations, the port is actively establishing infrastructure for LNG, Green Methanol, Ammonia, and Hydrogen to create a comprehensive green ship fuel supply chain.
- Smart Port Development: The port is implementing advanced Smart Port solutions, utilizing big data and digitalization to enhance operational efficiency, safety, and security.
- Infrastructure Expansion: The ongoing development of the Ulsan New Port Hinterland (over 1.2 million m2 by 2030) will further integrate logistics, manufacturing, and the vital Oil Hub function.
Source Ulsan Port Authority