Core Insights - Dalian Port has successfully completed the world's first green ammonia fuel bunkering operation, becoming the first port globally capable of supplying alternative marine fuels such as biofuels, green methanol, LNG, and green ammonia [1] - The successful bunkering operation is a collaborative effort across various sectors to establish Dalian as a Northeast Asia green marine fuel bunkering center, enhancing the fuel supply system and filling the gap in green ammonia fuel supply for vessels [1][2] Group 1: Industry Developments - The operation was conducted by Sinopec's China Marine Bunker Supply Company, which has been a pioneer in clean energy for vessels, having previously completed the first domestic biofuel oil bunkering and the first gray ammonia bunkering [1] - The ammonia-powered port operation vessel, designed and developed by Dalian COSCO Shipping Heavy Industry in collaboration with Dalian University of Technology, features advanced technologies including an ammonia dual-fuel engine and a full-pressure ammonia fuel tank, achieving a maximum ammonia energy substitution ratio of 91% [1] Group 2: Market Potential - The cost of green ammonia is expected to decrease more significantly than that of green methanol, indicating its potential for growth in the shipping industry [2] - Green ammonia is viewed as a "potential stock" for decarbonization in shipping due to its carbon-free nature, producing only water and nitrogen upon combustion, making it a key alternative fuel for achieving net-zero emissions in the maritime sector [2]

Core Viewpoint - Despite significant emission reduction potential, shipowners prefer methanol over ammonia as a marine fuel alternative due to unresolved safety issues related to ammonia [2] Group 1: Safety Concerns - Ammonia does not produce carbon dioxide emissions during combustion, but its high toxicity and specialized handling requirements pose major obstacles for its adoption in the shipping industry [2] - Ammonia can be lethal at concentrations as low as 300 ppm, necessitating additional safety systems and specialized training for crew members [2] - Ammonia fuel requires special compression, refrigeration, and other safety measures [2] Group 2: Market Demand Projections - According to S&P Global Commodity Insights, methanol is expected to be the preferred marine alternative fuel by 2030, with a demand of approximately 310,000 barrels per day, while ammonia demand is projected at 60,000 barrels per day [2] - By 2050, the demand landscape is expected to reverse, with ammonia demand projected to reach 2.4 million barrels per day and methanol at about 900,000 barrels per day [2] Group 3: Pricing Information - As of February, the price of 100% sustainable methanol in Singapore was $1,954.65 per ton, while the price of green ammonia in the Far East was $1,954.97 per ton [2] - In comparison, the average price of low-sulfur fuel oil delivered in Singapore during the same period was $560.25 per ton [2] Group 4: Infrastructure and Feasibility - Methanol fuel can be handled at ambient temperatures and requires only minor modifications to existing infrastructure, with over 120 ports globally already utilizing methanol fuel [3] - Recent trials have demonstrated the feasibility of methanol as a transitional fuel, achieving a 31% reduction in carbon dioxide emissions using a blend of 20% green methanol and 80% traditional methanol [3]