South Korean carrier HMM has teamed up with Shanghai International Port Group for methanol and liquefied natural gas bunkering at the world's busiest container port.

The Memorandum of Understanding signed by the two parties also encompasses carbon reduction efforts and the promotion of global shipping energy transformation.

"Through this co-operation with SIPG, we have expanded our green fuel supply chain in China, following South Korea and Singapore," HMM said in a statement.

To achieve the net zero emissions target for the business by 2050, HMM has already included Singapore and Busan in its green fuel supply chain network.

The company has signed newbuilding contracts for nine 9,000 teu vessels powered by methanol and plans to operate two 7,700 teu LNG-powered vessels by the end of 2024.

HMM ranks as the world's eighth-largest container shipping carrier, with a total capacity close to 800,000 teu, according to Alphaliner.

Shanghai has ambitions to be a leading regional centre for green bunkering.

It has provided bonded LNG bunkering services for many global shipping companies since 2022.

Last year, the state-owned port group established a partnership with Maersk, Cosco Shipping and CMA CGM for green methanol bunkering. 

According to a statement by SIPG, all preparations for green methanol bunkering at Shanghai port have been completed.