Singapore will start issuing bunkering licences next year to companies supplying methanol as marine fuel, in an effort to help global shipping cut carbon emissions, officials said Monday.

Three companies will kickstart methanol supply in the Port of Singapore from January 1, its Marine and Port Authority (MPA) said in a statement.

Singapore is the world's top bunkering hub due to its strategic location along the Strait of Malacca, having a well-developed infrastructure and access to refineries.

"This marks an important step towards establishing methanol bunkering at scale and driving Singapore's ambition to be a sustainable multi-fuel bunkering hub," the MPA said.

Global Energy Trading Pte Ltd, Golden Island Pte Ltd, and PetroChina International (Singapore) Pte Ltd were selected out of

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