Methanol Institute: Innovative developments and strategic collaborations (Week 24, 10-16 June 2024)
- Published
by Admin
The Methanol Institute, provides an exclusive weekly commentary on developments related to the adoption of methanol as a bunker fuel, including significant related events recorded during the week, for the readers of bunkering publication Manifold Times:
The past week saw further additions to the potential capacity for production of methanol with announcement of a new facility using waste biomass to create biomethanol for the maritime market. Elsewhere, plans for additional port storage was announced at key ports in China. Finally, analysis by Ship & bunker shows that almost half of the bunker capacity represented by the newbuilding orderbook will be powered by alternative fuels.
Methanol marine fuel related developments for Week 24 of 2024:
Norway to Develop Bio-e-Methanol Production Facility
Date: June 10, 2024
Key Points: Glocal Green and Norwegian Hydrogen are partnering to build a bio-e-methanol plant in Øyer, Gudbrandsdalen, Norway. The facility will produce 150,000 metric tonnes of bio-e-methanol annually, using hydrogen and CO2 from bio-waste and wood waste. The project aims to support the maritime sector’s transition to green fuels, leveraging local renewable resources to create sustainable methanol, thus contributing to Norway’s environmental goals and the broader global push for cleaner energy solutions.
Green Marine Fuels and Vopak Collaborate on Green Methanol Storage Facilities
Date: June 12, 2024
Key Points: Green Marine Fuels Trading and Vopak have announced a strategic partnership to develop green methanol storage facilities at key ports, including Shanghai Caojing and Tianjin Lingang in China. This collaboration aims to expand the infrastructure needed to support the growing demand for green methanol as a sustainable marine fuel. The facilities will enhance the supply chain for green methanol, aligning with global efforts to decarbonize the shipping industry and promote the use of alternative fuels.
Global Orderbook Analysis: Conventional vs. Alternative Bunker Fuel Demand
Date: June 13, 2024
Key Points: An analysis of the global newbuilding orderbook, conducted by Ship and Bunker, reveals that of a total 33.8 million tonnes (mt) of bunker demand, alternative fuelled ships represent 46% or 15.6mt of bunker demand.
Methanol accounts for 3.2 mt (10%) compared to 10.5mt (31%) for LNG, a figure skewed by the vast orderbook for LNG carriers which partly use their cargo as fuel.
The data from DNV Alternative Fuels Insight indicates a significant shift towards alternative fuels, driven by containerships and LNG carriers, reflecting the maritime industry’s continuing focus on reducing carbon emissions and adopting greener fuel options.
Photo credit: Methanol Institute
Published: 20 June, 2024
