Methanol

Singapore start-up takes on challenge to cut production cost of methanol bunker fuel by half

Armed with its proprietary catalyst technology, CRecTech aims to solve maritime industry’s major hurdle of limited supply and high production cost of renewable methanol.

Published

8 months ago

October 22, 2025

Admin

Dr Lim Kang Hui, Co-founder and Chief Executive Officer of CRecTech, shared with Singapore-based bunkering publication Manifold Times its progress since winning second place in PIER71 Smart Port Challenge 2023 and its drive to solving the low supply and high price tag of renewable methanol:

MT: Could you introduce to our readers the brains behind CRecTech and what they aspire to achieve in the maritime industry?

CRecTech was co-founded by me, as CEO, and Dr. Haw Kok Giap, as CTO. Both of us come from strong backgrounds in material science, catalysis, and chemical engineering research at the National University of Singapore. What unites us is a shared belief that the research we do should directly serve society. At CRecTech, we turn waste into worth, transforming agricultural and industrial biogas into renewable methanol that can power ships sustainably. Our aspiration is to make green fuels affordable and scalable, so the maritime industry can achieve its decarbonisation targets without compromising on cost or reliability.

MT: What is the CRecREF catalyst and how is it different from anything in the market to produce methanol?

The CRecREF^TM catalyst is at the heart of our technology. Traditional biogas-to-methanol processes usually involve four separate steps, requiring high temperatures, complex equipment, and significant energy input. Our catalyst streamlines this into just two steps, directly converting two greenhouse gases, methane (CH₄) and carbon dioxide (CO₂), from waste biogas into methanol in a more efficient way. This breakthrough simplifies plant design, cuts production costs by up to 50%, making renewable methanol affordable. To our knowledge, no other catalyst system in the market achieves this degree of process intensification with such versatility and stability.

MT: How will the CRecREF catalyst help in solving one of maritime industry’s predicaments: limited supply of green methanol and making it more affordable? Do you think the technology will be the key to wide scale use of green methanol in the maritime industry?

By leveraging our catalytic technology, we can deploy decentralised, containerised units directly at waste biomass and biogas sources, whether it is at agricultural sites, landfills or animal farms, etc. Our units are expected to operate at relatively small scales that are nevertheless profitable with our process, whereas conventional methods would only be viable at much larger, centralised scales to capture economies of scale. As such, our technology eliminates costly feedstock transport, expands supply, and crucially unlocks waste streams that were previously uneconomical or technically impossible to convert into methanol, thereby opening up entirely new sources of affordable green methanol for the maritime industry.

MT: Since receiving a grant from Breakthrough Energy Fellows – a programme that rewards up to USD 500,000 in R&D funding in 2023, what has been the progress on the company’s methanol initiative and what are the company’s plans for the rest of the year and next year?

The Breakthrough Energy Fellows – Southeast Asia programme, which we joined in 2024, has enabled us to scale our technology more than 1,000 times beyond lab systems while de-risking the scale-up process. It has also positioned us to engage strategic partners, including regional biomass players and shipping companies such as Hudson Shipping Lines, to advance green methanol adoption. For the rest of this year, we are focused on finalising engineering designs and preparing for our first pilot deployment in Malaysia or Indonesia with local waste biomass/biogas producer. Looking ahead to next year, our goal is to commission a containerised pilot demonstration unit capable of producing up to 1,000 metric tonnes (mt) per year, paving the way for commercial adoption by 2028.

MT: How has PIER71^TM support CRecTech?

PIER71^TM has been one of our earliest and strongest champions. Through the Smart Port Challenge in 2023, we gained access to maritime mentors, veterans, and shipping companies, which was invaluable for refining our business model and testing our assumptions against real market needs. PIER71^TM, and MPA, also gave us visibility within Singapore’s maritime innovation ecosystem and connections to corporates and regulators critical for scaling green fuel solutions. As a Smart Port Challenge finalist, we continue to benefit from incubation support, co-working space, and close interactions with fellow innovators driving maritime decarbonisation.

Note: PIER71™ Great Circle 2025, which will include the Grand Finals of the Smart Port Challenge, will be held on 5 November. Details and registration can be found here.

Photo credit: CRecTech
Published: 22 October, 2025

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Mass Flowmeter

Hong Kong backs MFM adoption with voluntary scheme to boost bunkering competitiveness

Hong Kong’s Marine Department launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems on their bunker vessels.

Published

5 hours ago

June 4, 2026

Admin

Hong Kong’s Marine Department (MD) on Wednesday (3 June) launched the Quality Bunker Operator Scheme to encourage bunker operators to install and use mass flow meter systems (MFM systems) on their bunker vessels.

MD said the scheme aims to enhance Hong Kong’s bunkering service quality and the competitiveness of Hong Kong ports, thereby further consolidating Hong Kong’s position as an international maritime centre and a major bunkering port.

Under the Scheme, bunker operators of traditional maritime fuel and biodiesel that install and use MFM systems on their bunker vessels, with the MFM systems inspected and certified by an accredited body in accordance with the International Organization for Standardization’s ISO 22192 Standard or equivalent requirements, can apply to the MD for inclusion in the scheme’s “List of Quality Bunker Vessels”, provided they meet the relevant technical and operational requirements.

Details of the bunker vessels successfully included in the List will be published on a dedicated page on the MD’s website for reference by shipping companies and relevant stakeholders.

Participation in the Scheme is voluntary. In addition to receiving recognition from the MD, participating bunker operators will benefit from enhanced corporate image and competitiveness through the adoption of MFM systems, thereby boosting customers’ confidence and helping to create new business opportunities.

A spokesman for the MD, said: “As an international maritime centre supported by our country, Hong Kong has a strategic location adjacent to major international fairways. Coupled with years of development in marine fuel bunkering, Hong Kong possesses rich experience and talent in the field. For many years, Hong Kong has consistently ranked as the seventh-largest bunkering port globally, the second-largest in our country, and the largest in the Greater Bay Area, providing reliable and competitive fuel bunkering services to ocean-going vessels from around the world.

“As the international shipping industry has an increasing demand for accuracy and transparency in bunkering services, service quality and measurement precision in bunkering operations have become important indicators of a bunkering port’s competitiveness. The Scheme will enhance bunkering accuracy and transparency, further enhancing the quality of Hong Kong’s bunkering services.

The spokesman added that comprehensive port services are one of Hong Kong’s key advantages as an international maritime centre.

“We will also mandate the use of MFM systems on all methanol bunker vessels this year to ensure that Hong Kong continues to provide high-quality bunkering services in the era of green maritime fuels.”

Note: The application form for the Scheme can be found on the MD’s website. Interested bunker operators can download the application form from the website or contact the MD’s Green Maritime Fuel Team via email ([email protected]) for details.

Photo credit: Manifold Times
Published: 4 June, 2026

Methanol

Seaspan and Hapag-Lloyd complete first of five methanol vessel retrofit

Following “Seaspan Yangtze”, the remaining vessels planned for retrofit under the methanol retrofit programme are “Seaspan Amazon”, “Seaspan Ganges”, “Seaspan Thames”, and “Seaspan Zambezi”.

Published

5 hours ago

June 4, 2026

Admin

Seaspan and Hapag-Lloyd complete first of five methanol vessel retrofit

Seaspan Corporation (Seaspan) and Hapag-Lloyd on Wednesday (3 June) announced the successful completion of the first of the five vessel conversions under their methanol retrofit programme with the delivery of Seaspan Yangtze.

From the early SAVER (Seaspan Action for Vessel Energy Reduction) programme to today’s CleanBlue initiative, Seaspan has committed over USD 230 USD million across 86 vessels, executing more than 550 efficiency and retrofit projects.

Following Seaspan Yangtze, the remaining vessels planned for retrofit under the programme are Seaspan Amazon, Seaspan Ganges, Seaspan Thames, and Seaspan Zambezi. Each retrofit is expected to reduce well-to-wake CO₂e emissions by approximately 30,000 to 50,000 metric tonnes per vessel annually when operating on low-carbon methanol, while also extending vessel lifespan and enhancing fuel flexibility.

“Decarbonisation is not just about building the fleet of tomorrow, it is also about unlocking the full potential of the fleet we have today. Retrofitting and upgrades on existing fleets play a practical, immediate, and economical role in accelerating shipping’s decarbonization journey,” said Bing Chen, Chairman, President and CEO of Seaspan.

“Project SAVER CleanBlue highlights Seaspan’s strong customer partnerships, deep technical expertise, and unique platform integrated with JV partners, such as WattSpan Maritime Technology, in executing complex and large-scale retrofit projects.”

“The successful conversion of the Seaspan Yangtze together with the planned retrofit of its four sister vessels is another important step on our ambitious path towards net-zero fleet operations by 2045,” said Silke Lehmköster, Managing Director, Fleet, Hapag-Lloyd.

“Together with Seaspan, we are demonstrating that retrofitting existing vessels for low-carbon methanol can be a practical way to reduce emissions in shipping.”

Photo credit: Seaspan
Published: 4 June, 2026

Alternative Fuels

Shipfinex: The green fleet transition has a financing problem

Capt. Vikas Pandey, Founder & CEO, Shipfinex argues green shipping progress is uneven: major carriers can finance alternative-fuel vessels, while smaller owners face capital constraints.

Published

5 hours ago

June 4, 2026

Admin

Shipfinex: The green fleet transition has a financing problem

By Capt. Vikas Pandey, Founder & CEO, Shipfinex

The numbers on alternative-fuel orders look encouraging. Seventy-two percent of newbuild capacity ordered in the first ten months of 2025 was for alternative-fuel vessels, with LNG dual-fuel accounting for 60% of that figure. More than 1,369 LNG dual-fuel vessels are now in operation or on order globally. By most measures, the transition appears to be happening.

Look at who is actually placing those orders. MSC. Hapag-Lloyd. CMA CGM. Carriers with balance sheets large enough to absorb the cost premium of alternative-fuel newbuilds and relationships with Chinese leasing companies that extend leverage ratios unavailable to most of the industry. The Strait of Hormuz disruption this March accelerated that activity further: LNG tanker charter rates spiked above $200,000 per day and carriers with deep pockets moved to lock in fuel flexibility. Meanwhile, for vessels under 6,000 TEU, orders for conventionally fuelled tonnage rose to 28% of capacity ordered in 2025, up from 19% the year before. That is not a story of broad commitment to green fuels. It is a story about who has access to capital.

An alternative-fuel newbuild costs materially more than a conventional equivalent. Methanol-ready designs, ammonia-ready structures, LNG dual-fuel systems, each carries a cost premium above the base vessel price. For an independent shipowner financing through a traditional bank, that gap is increasingly difficult to bridge. Top-40 bank lending to shipping fell from $454.9 billion in 2011 to $284.3 billion by end-2023. The Chinese leasing companies that absorbed part of that contraction are structurally oriented toward Chinese-built vessels under long-term contracts with tier-one counterparties. Independent bulk owners, mid-tier tanker operators, feeder container companies: they are working with a materially shrunken pool of willing lenders at precisely the moment they are being asked to upgrade their fleets.

This bifurcation deserves more attention from the marine fuels industry than it currently receives. Bunkering infrastructure investment follows demand signals. Alternative-fuel bunkering at secondary ports, methanol at regional hubs, LNG outside the major transhipment centres, requires a broader fleet base of alternative-fuel vessels to justify the investment. If green fuel adoption stays concentrated among a handful of majors rather than spreading across the independent owner fleet, the economics of scaling bunkering supply infrastructure outside the primary corridors remain thin.

Capital market structure and marine fuel adoption are connected, and pretending otherwise slows both. Digital instruments representing economic exposure to vessel-owning Special Purpose Vehicles, structured within regulated frameworks like VARA in Dubai, can extend the base of capital available to shipowners below the tier-one threshold. That capital base does not replace bank lending. It reaches operators that bank lending currently does not.

The Hormuz disruption reminded the industry that fuel supply chains carry geopolitical risk. The financing gap raises a quieter but equally structural point: the demand side of the green fuel equation depends on shipowners being able to afford the vessels that create that demand. Alternative-fuel bunkering infrastructure will scale when the fleet ordering those vessels does. Right now, that fleet is smaller than the order book numbers suggest.

About the Author

Vikas Pandey is a Master Mariner with decades at sea across various vessel categories. He is Founder and CEO of Shipfinex FZCO, a maritime asset tokenization platform operating under VARA In-Principle Approval (IPA/26/01/002) in Dubai and registered as a Virtual Asset Service Provider in Poland.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a solicitation to buy or sell any financial instrument or virtual asset. Maritime Asset Tokens are virtual assets; values may decline materially below purchase price. VARA In-Principle Approval does not constitute a final licence.

Linkedin: https://ae.linkedin.com/in/capt-vikaspandey
Website: https://www.shipfinex.com/

Photo credit: Shipfinex
Published: 4 June, 2026