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Reference

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Supporting source

IMO Net Zero Fund projected carbon levy (2027)

~USD 100-150 per tonne CO2-eq

As ofFY2027 effective·Sources2·Supporting

Modelled IMO Net Zero Fund carbon levy quantum on non-compliant fuel use from 2027 effective date. On the same order as EU ETS allowance prices in the EUR 70-90 per tonne band; stacked with FuelEU intensity penalties, materially lifts the all-in MGO and VLSFO cost above green-bunker ASP for EU-touching rotations.

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Figure in context

Modelled IMO Net Zero Fund carbon levy quantum on non-compliant fuel use from 2027 effective date. On the same order as EU ETS allowance prices in the EUR 70-90 per tonne band; stacked with FuelEU intensity penalties, materially lifts the all-in MGO and VLSFO cost above green-bunker ASP for EU-touching rotations.

Modelled IMO Net Zero Fund carbon levy quantum on non-compliant fuel use from 2027 effective date. On the same order as EU ETS allowance prices in the EUR 70-90 per tonne band; stacked with FuelEU intensity penalties, materially lifts the all-in MGO and VLSFO cost above green-bunker ASP for EU-touching rotations.

Time scope

FY2027 effective

Source basis

Supporting source

Interpretation notes

What this tells you

Modelled IMO Net Zero Fund carbon levy quantum on non-compliant fuel use from 2027 effective date. On the same order as EU ETS allowance prices in the EUR 70-90 per tonne band; stacked with FuelEU intensity penalties, materially lifts the all-in MGO and VLSFO cost above green-bunker ASP for EU-touching rotations.

What not to do with it

Use the linked report for interpretation and keep basis differences explicit.

Related figures

Adjacent numbers that add context without drowning the value.

FY2024
~25 kt

Thailand green-bunker volume (2024 baseline)

PTT, Marine Department, BOI Section 8 pipeline

FY2027 modelled
~720 kt

Thailand green-bunker volume (2027 base case)

PTT, EA, Banpu, IRPC, GPSC, Marine Department, Maersk

FY2027 modelled
~USD 0.6-1.4B

Thailand green-bunker market revenue (2027 base case)

PTT, EA, Banpu, PTTOR, IRPC, MPA Singapore, EU DG CLIMA

2026 commissioning
~250 kt per year

EA Amita Rayong green ammonia plant capacity

EA SET factsheet, EA Amita disclosure

2028 commissioning, FID Q3 2026
~400 kt per year

PTTOR plus Banpu Methanol Captive Co Map Ta Phut e-methanol capacity

PTTOR SET factsheet, Banpu disclosure

By 2027
~100 vessels

Maersk PTT methanol bunker rotation vessel target

Maersk press release, PTT factsheet

Report context

Thailand Maritime Bunker & Green Methanol 2027 Market Intelligence

Thailand is positioning to become a 2027 green-fuel bunker hub for the Asia container, bulk fleets transiting between Singapore (the world's largest bunker port) and Shanghai or Yokohama. The IMO Net Zero Framework, FuelEU Maritime, EU ETS shipping extension, and Carbon Intensity Indicator tightening force the global fleet toward methanol, ammonia bunkering. Laem Chabang (the world's #20 container port at around 9M TEU per year) plus Map Ta Phut (35M tonnes per year bulk fuel throughput) sit at the geographic chokepoint between Singapore and the rest of East Asia. The 2027 catalyst stack: PTT Trading, GPSC, IRPC, EA, Banpu signing methanol or ammonia bunker MOUs with Maersk, MSC, CMA CGM, ONE for 2027-2029 supply; BOI Section 8 incentives for green-fuel bunker terminals (8-year tax holiday, 0 percent import duty); Energy Absolute and EA Amita green-ammonia plant Rayong (250 kt per year, commissioning 2026); PTTOR plus Banpu Methanol Captive Co Map Ta Phut (400 kt per year, FID Q3 2026); Marine Department approving Class III bunker barges for methanol, ammonia 2026. Base case 2027 market: USD 0.6-1.4B revenue (versus near-zero in 2024), with PTT Trading, GPSC, IRPC, EA, Banpu Methanol capturing 75 percent or more share and Singapore (Vitol, Trafigura), Korea (KSOE), Japan (Mitsui) cross-border participants capturing 15-25 percent.

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Atlas actors in this figure's reports

Profiles covered in the report that cite this number.

Banpu Public Company Limited

SET-listed energy group transitioning from coal toward gas, power, and energy technology.

Energy Absolute

Pure-play Thai renewable, EV-value-chain — solar, wind, biodiesel, EV buses, charging, battery. FY2024 THB 25-30B with 2023-2024 governance turbulence.

Global Power Synergy

PTT Group listed power arm — 7GW+ across Thailand, Taiwan, India, Laos; FY2024 revenue ~THB 80B.

IRPC

Integrated refiner, petrochemical at Rayong; 215K bpd refining, olefin, aromatic, specialty polymers; FY2024 revenue ~THB 290B.

IMO Net Zero Fund projected carbon levy (2027) · Insight