Free admission “Methanol as Marine Fuel” event to conclude at Singapore
The Methanol Institute (MI) sponsored event Methanol as Marine Fuel, which has seen previous editions in Dubai, Mumbai, Rio De Janeiro, and Athens, will be making its final stop for the year at Singapore on 8 November, says the Manager of Government Relations & Business Development, Asia/Middle East.
“Singapore as the biggest bunkering port of the world, will be a fitting final edition of this event for 2019 which has the support of MI,” Tim Chan tells Manifold Times.
“The event will see vessel-owners, class societies, engine manufacturers, and methanol industry representatives provide first hand experiences on methanol as a marine fuel.
“As an additional bonus for the Singapore market, we will be also discussing the use of methanol as a marine fuel in the local context.”
MI is also planning to bring a retrofitted marine engine that can be fuelled by methanol to Singapore for demonstration purposes at a future date, shares Chan.
“The goal is to give the Singaporean marine industry first-hand experience with methanol as marine fuel in Singapore through these seminars, studies, and demonstration projects,” he explains and suggests using methanol as a marine fuel could be the answer for the shipping industry to avoid incurring substantial additional costs on logistics and new technology in their bid to comply with IMO regulations.
“Due to IMO 2020, prices of low-sulphur fuels such as MGO can be more expensive than methanol on an energy equivalent basis creating room for methanol as a viable alternative fuel for some vessel owners on the market,” says Chan.
“Historically, methanol trades within a narrower price band with little fluctuation allowing vessel owners greater visibility on fuel pricing and the assurance that they will not experience major price volatility.
“Being one of the oldest chemical commodities to be traded internationally, methanol is widely available at most ports around the world. It has also been proven to be a viable future-proof fuel that has been demonstrated in as many as 13 marine vessels around the world with little technical challenges and no operational issues.”
Methanol complies with the 2020 sulphur cap, and can be produced renewably, allowing it to be a future-proof fuel that could bring the marine industry into 2050 while being compliant with GHG reductions.
“Despite these advantages, and methanol’s history as a widely traded commodity, there lacks an awareness of methanol as a marine fuel,” says Chan.
“This seminar will be an opportunity for participants to learn about the first hand experiences that vessel-owners, class societies, engine manufacturers, and methanol industry representatives have gained on methanol as a marine fuel.
“It will also provide participants with more knowledge about an alternative fuel that could feasibly be part of the fuel mix of the future for the marine industry.”
The MI-sponsored Methanol as Marine Fuel event is organised by Sea Commerce. Interested delegates can apply for this free admission event at the link here.
Published: 18 October, 2019
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