Gov’t inks deal pushing for green maritime fuel development

There will also be a scheme providing incentives for clean fuel bunkering.

Hong Kong has inked partnerships to promote the development of green maritime fuels.

In a statement, the government said various agreements were signed by the Transport & Logistics Bureau (TLB) with different parties that focus on promoting he development of green maritime fuel-related businesses and establishing a market for the trade of green maritime fuels.

Speaking at the Mainland-Hong Kong Green Energy Matchmaking Event, Secretary for Transport & Logistics Mable Chan said that the mainland's core strength is in the production of green fuels.

Hong Kong, meanwhile, is “not only home to a large number of international shipping enterprises, but also enjoys advantages such as free flow of capital, a financial and legal system that is in line with the rest of the world, and a trade settlement mechanism that allows immediate payment settlements.”

She also said that Hong Kong is the top bunkering centre in the Guangdong-Hong Kong-Macao Greater Bay Area, the second largest in the whole of China, and ranks seventh globally.

Aside from this, Commissioner for Maritime & Port Development Amy Chan also announced that the Marine Department will gazette the Code of Practice for Methanol Bunkering within this month. It will also launch the Green Maritime Fuel Bunkering Incentive Scheme.