Cooperation Agreements Signed for Shanghai International Shipping Green Fuels Trading Platform

SHANGHAI, June 30 — The Shanghai International Shipping Green Fuels Sustainable Development Conference was held in Shanghai on June 30, marking a major step forward in advancing the green and low-carbon transformation of the Shanghai International Shipping Center. During the conference, a series of landmark cooperation agreements were signed, including those for the Shanghai International Shipping Green Fuels Trading Platform and the Green Marine Fuels International Certification System Affairs Center.

The conference was jointly hosted by Shanghai Exchange Group and Shanghai International Port (Group) Co., Ltd. (SIPG), and organized by Shanghai Shipping Exchange and SIPG Energy.

Under the theme "Advancing the Dual Carbon Strategy, Pioneering Green Fuels," the event featured the release of green fuels development roadmaps, the signing of strategic cooperation agreements across the industrial chain, and discussions on emerging industry trends. It aims to accelerate the development of an integrated international shipping green fuels hub that combines certification, trading and bunkering services, providing strong support for the green upgrading of the Shanghai International Shipping Center and the low-carbon transition of the global shipping industry.

The conference was attended by He Qing, Vice Mayor of the Shanghai Municipal People's Government, and Cen Yanqing, Chief Engineer of the Ministry of Transport. More than 200 participants were present, including officials from the Ministry of Transport and its affiliated institutions, transport authorities from several provinces and municipalities, representatives of relevant Shanghai municipal departments, and executives from leading shipping and energy enterprises.

As a key outcome of the conference, China Energy Investment Corporation Hydrogen Technology Co., Ltd., Shanghai Shipping Exchange, and Shanghai Environment and Energy Exchange signed a cooperation agreement to jointly establish the Shanghai International Shipping Green Fuels Trading Platform.

The platform will pilot a full closed-loop service system covering certification and rights confirmation, registration, trading, settlement, and retirement of green fuels. It will also explore the launch of new green fuel trading products while strengthening market functions through transaction data services, secure trading mechanisms, and supply-demand matching. By serving as a centralized resource allocation platform, it is expected to enhance price discovery, improve market efficiency, balance supply and demand, and unlock the commercial value of green attributes, providing strong support for the trading and wider application of hydrogen and other green fuels.

Green fuels—including green hydrogen, green methanol, green ammonia and sustainable aviation fuel (SAF)—are becoming an increasingly important focus of international energy cooperation and green investment, while also playing a critical role in global decarbonization. However, the sector continues to face challenges such as supply-demand mismatches and the lack of mature mechanisms to monetize the environmental value of low-carbon fuels.

China has introduced a series of supportive policies in recent years to accelerate the development of the green fuels industry. In October 2024, six central government departments led by the National Development and Reform Commission jointly issued the Guiding Opinions on Vigorously Implementing the Renewable Energy Replacement Initiative, encouraging the localized development of green fuels such as biomethane, biodiesel and sustainable aviation fuel, while promoting the orderly expansion of renewable energy-based hydrogen production.

In October 2025, the National Development and Reform Commission and the National Energy Administration jointly released the Guiding Opinions on Boosting New Energy Consumption and Regulation, calling for coordinated development of integrated production, storage, transportation and utilization systems for green fuels, including green hydrogen, green ammonia and green methanol, to foster more flexible energy demand.

The strategic importance of the sector was further underscored in 2026, when "green fuels" was included in China's Government Work Report for the first time. The move elevated the industry to a national strategic priority and highlighted its role in supporting the country's carbon peaking and carbon neutrality goals.