More and more shipping companies are putting methanol as an alternative fuel in the foreground, weighing the pros and cons for shipping use. At a time, in fact, when the IMO has put more ambitious goals on the table, such as net zero greenhouse gas emissions by 2050.
Shipping giant AP Moller – Maersk has already secured fuel for the maiden voyage of the world’s first methanol-capable container ship. In particular, Maersk signed an agreement with the Dutch producer OCI Global for the delivery of green methanol.
It said the 21,500km journey from Ulsan, South Korea to Copenhagen, Denmark will provide an “unprecedented experience” for the company’s sailors operating the new methanol-fueled engines as the company prepares to deliver a fleet of new, large ocean-going vessels with the ability to use methanol from 2024 (please also read the article titled “The first Electric Cruise ship with Giant Solar sails at Sea in 2030“).
It is worth noting that Maersk has ordered nineteen ships that have the ability to burn methanol and the goal is to have 25% of the company’s marine cargo run on green fuels by 2030. Also, twelve ships with a capacity of 16,000 TEU and six with a capacity of 17,000 TEU are to to be built by Hyundai Heavy Industries and delivered from 2024 onwards.
Dozens of orders
In the meantime, other companies that manage containerships are turning to alternative fuels, especially methanol. CMA has ordered at least eighteen methanol-fueled vessels. Contracts for six 15,000 TEU vessels from China State Shipbuilding Corporation (CSSC) were signed last June, with delivery scheduled for 2025, while last April the deal for a further twelve vessels of the same type was closed as part of a record deal amounting to 3 billion dollars.
For its part, COSCO Shipping Holdings ordered twelve 24,000 TEU methanol vessels last October, worth nearly $2.9 billion, to be delivered between the third quarter of 2026 and the third quarter of 2028. A few days ago, the Chinese giant added four more 16,000 TEU vessels to be built in Yangzhou.
At the same time, nine 9,000 TEU dual-fuel vessels will be delivered to HMM between 2025 and 2026. They will be built by Hyundai Samho Heavy Industries (HSHI).
The ports
In China, COSCO, CMA CGM and Shanghai International Port Group (SIPG) signed a memorandum of understanding (MoU) in April to supply and deliver methanol fuel to major ports in the country. At the same time, in March, Maersk signed a memorandum of cooperation with the Shanghai Authority for the possibility of refueling container ships with green methanol from 2024.
Recently the port of Antwerp – Bruges celebrated the first ship refueling with methanol, an important milestone for the port, against the background of the energy transition of the shipping industry. In particular, according to a post by the port on social media, the refueling of the ship took place on June 1, when the “Tamariva” barge also refueled a Proman Stena Bulk ship.
Ports in Singapore, Australia, Sweden and Egypt have joined in, as methanol looks set to be a top shipping fuel by 2023, reflected in the high number of orders.
Advantages of methanol include the fact that regulations for its use are already in place, allowing shipowners to design new ships, while engines have relatively simple design requirements. In any case, however, its availability still remains a challenge.
