With the global fleet capable of consuming 50 million mt/year of alternative fuels by 2030, questions remain over how quickly supply can be scaled.

Bulkers have had limited uptake of methanol-fuelled ships thus far, but this has begun to change in recent months with China's backing for the fuel.

"What we can do as an industry is to fix the market which is not transparent, not compliant, and is not safe," TFG's Kenneth Dam tells delegates in Hong Kong.