June 30, 2025
Marubeni Corporation has signed a strategic partnership agreement with Sinopec Fuel Oil Sales Co., Ltd. for the development of supply chains for alternative fuels such as biofuel, LNG, and methanol.
Under this new Agreement, Marubeni and Sinopec Fuel Oil will further develop their partnership, both in conventional marine fuels and by exploring the potential to handle new fuels such as biofuel, LNG, and methanol. Marubeni and Sinopec are now aiming to build a new fuel supply chain by leveraging the strengths of both companies.
Furthermore, the Agreement represents an important step toward strengthening the relationship between the two companies as well as establishing a new framework for cooperation, with a view to expanding into the global market, including Asia, in anticipation of growing demand for new fuels.
The effort comes at a time of accelerating global demand for alternative marine fuels, driven by tightening environmental regulations and the maritime industry’s shift toward decarbonization.
For instance, according to the data from DNV’s Alternative Fuels Insights (AFI) platform, a total of 515 alternative-fueled ships (excluding LNG carriers) were ordered in 2024, representing a 38% year-on-year increase compared to 2023.
