The Ministry of Oceans and Fisheries, South Korea, hosted the second Forum on the Commercialization of Marine Biofuels on Apr 23, highlighting the importance of transitioning to more decarbonizing fuels. The event followed the International Maritime Organization's (IMO) agreement on proposed amendments to its GHG reduction regulations during the 83rd Marine Environment Protection Committee (MEPC 83) held in early April. At the forum, Jae-young Byeon, President of the Ulsan Port Authority, unveiled a comprehensive plan to promote the encouragement of bio-bunker mainly in the Ulsan Port. The president emphasized the port's extensive storage infrastructure and robust fueling capabilities, positioning Ulsan as a future hub for bio-bunker supply in Northeast Asia.
Ulsan port is South Korea's largest logistics hub for petroleum products and petrochemicals, and had been developed as a commercial terminal under government leadership. According to market sources, storage availability remained a key challenge for expanding the use of bio-bunkers. The South Korean government were expected to scale up operations at Ulsan port, where storage flexibility offers a strategic advantage.