Methanol

Green Marine and Stamford Shipping launch JV in Singapore for methanol-powered ships

Duo formed a joint venture to build and manage, both commercially and technically, methanol dual-fuel propulsion vessels across multiple market segments.

Published

1 year ago

November 1, 2023

Admin

Green Marine Copenhagen ApS and Stamford Ship Management Pte. Ltd. on Tuesday (31 October) said they have formed a joint venture in Singapore with a mission to build and manage, both commercially and technically, methanol dual fuel propulsion vessels across multiple market segments.

The duo said the technologies to use methanol as a bunker fuel are available now.

“Methanol is tried and tested, delivering an immediate economic solution to reduce CO2 and NOx emissions, and to virtually eliminate SOx and particulate matters emissions. The development of methanol propulsion engines provides an excellent opportunity to invest in commercially viable sustainable shipping,” they said in a joint statement.

Morten Jacobsen, Founder, Green Marine, said, “We have identified Singapore as the ideal location for anchoring our methanol ship owning and ship management platform. Together with Stamford, we are already developing several newbuilding projects and we are excited as Green Marine further diversifies across the marine methanol spectrum.”

Oliver van der Wyck, Founder, Stamford Shipping, said, “This joint venture is one example of Stamford’s commitment to Singapore based sustainable shipping and to be a leader in emissions management and reduction. Stamford’s commercial and fund management expertise combined with Green Marine’s unparalleled methanol knowledge will put us in a unique position to develop methanol powered shipping projects beneficial to all stakeholders.”

Teo Eng Dih, Chief Executive, Maritime and Port Authority of Singapore, said, “The Maritime and Port Authority of Singapore welcomes Stamford Shipping and Green Marine’s joint venture in Singapore which will create investment opportunities and manage methanol-related propulsion vessels. There is potential for low-emission methanol to play a role especially when produced from biogenic or renewable sources.”

“This will support the maritime decarbonisation efforts and add to Singapore’s multi-fuel bunkering capability. We look forward to working closely with Stamford Shipping and Green Marine and their new joint venture.”

Chris Chatterton, Chief Commercial Officer, The Methanol Institute, said, “This joint venture recognises that methanol has achieved a high level of market acceptance among shipowners and operators who can draw on technical and operational expertise to support their investments in sustainable shipping. The Methanol Institute will continue to support our members and all parties who wish to engage in the decarbonization process and understand what Methanol can bring to them.”

Photo credit: Green Marine Copenhagen
Published: 1 November, 2023

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Alternative Fuels

DNV: LNG dominates alternative-fuel vessel orderbook for 2024

According to DNV, LNG was the industry’s alternative fuel of choice by year-end; 264 LNG vessel orders were placed in 2024, over double that of 2023 which was 130 orders.

Published

9 hours ago

January 13, 2025

Admin

The maritime industry’s exceptional newbuilding year 2024 drove a significant rise in orders for alternative-fuelled vessels, according to the latest data from DNV’s Alternative Fuels Insights (AFI) platform.

A total of 515 such ships were ordered, representing a 38% year-on-year increase compared to 2023, underscoring the industry's growing commitment to decarbonization.

The growth in alternative-fuelled vessel orders has been heavily driven by the container and car carrier newbuild boom over the last three years. In 2024, 69% of all container ship orders were for ships capable of being powered by alternative fuels, driven by cargo owners responding to consumer demands for more sustainable practices and liner companies preparing to replace older tonnage. The preferred fuel choice for this segment was LNG (67%). In total the container and car carrier segments made up 62% of all alternative fuel orders in 2024.

Knut Ørbeck-Nilssen, CEO Maritime at DNV, said: “As we work towards decarbonizing the industry, we are encouraged by the growth in alternative fuel vessels over the past few years. While recent figures are promising, we must keep pushing forward.”

“The technological transition is underway, but supply of alternative fuel is still low. As an industry we need to work with fuel suppliers and other stakeholders to ensure that shipping has access to its share of alternative fuels in the future. It is also important that the safety of seafarers is ensured as we make this transition. This will require investment in upskilling and training.”

LNG was not the only fuel on shipowners’ minds as 2024 saw them betting on multiple alternative fuels. 166 methanol orders were added (32% of the AFI orderbook), reflecting shipping’s growing interest in a diverse fuel pool as it strives to reduce greenhouse gas emissions. Most of these methanol orders (85) were in the container segment.

While methanol drove newbuilding orders for alternative-fuelled vessels at the beginning of the year, LNG was the industry’s alternative fuel of choice by year-end. The number of LNG vessel orders placed in 2024 was 264, over double that of 2023 (130).

Ammonia saw promising momentum in the earliest months of the year and continued to grow throughout 2024. A total of 27 orders were placed for ammonia-fueled vessels. The first non-gas carrier ammonia-fuelled vessels orders were placed in 2024 (10), mainly in the bulk carrier segment (5). While still in its early stages, this provides further evidence of ammonia's emergence in the alternative fuel market.

Deliveries and bunkering

The number of LNG-fuelled ships in operation doubled between 2021 and 2024, with a record number of deliveries (169) in 2024. By the end of 2024, 641 LNG-powered ships were in operation. According to the AFI orderbook, this number is expected to double by the end of the decade.

While the bunkering infrastructure for some alternative fuels remains underdeveloped, LNG bunkering is maturing. The number of LNG bunker vessels in operation grew from 52 to 64 over the last year, with continued growth expected in 2025. The significant gap between LNG bunkering supply and demand is expected to widen over the next five years based on the AFI orderbook.

Addressing this challenge by developing the appropriate infrastructure for alternative fuels – both for vessels and bunkering - can create demand signals to stimulate long-term fuel production. With the EU regulatory package, Fit for 55, setting requirements on a large network of ports to have LNG bunkering infrastructure, it is expected that the availability of LNG in ports will increase.

Jason Stefanatos, Global Decarbonization Director at DNV, said: “Market conditions, infrastructure development, fuel production updates, and cargo owners' needs are all shaping the demand for different fuels, both in the short and long term.”

“The shifting trends in LNG and methanol orders this year might be due to the slow development of green methanol production. In the long run, green methanol has potential to be part of the energy mix along with ammonia.”

“In parallel, LNG offers a vital bridging fuel option benefiting from existing infrastructure and short-term emissions reductions while being capable of acting as a long-term solution as well, assuming RNG (Renewable Natural Gas) will be available and provided at a competitive price.”

Photo credit: DNV
Published: 13 January, 2024

Methanol

China: Shanghai Port commences regular methanol bunkering operations

Port carried out the first STS bunkering during simultaneous operations for large methanol-powered container ships for this year in Yangshan Port Area on 1 January, says SIPG.

Published

5 days ago

January 8, 2025

Admin

Ane Maersk during Shanghai Port's first methanol bunkering for 2025

Editor's note [8 January 2025]: Photo updated.

Shanghai Port has begun regular methanol bunkering services following its inaugural refuelling operation for this year, according to Shanghai International Port Group (SIPG) on Friday (3 January).

The port carried out the first ship-to-ship (STS) bunkering operation during simultaneous operations (SIMOPS) for large methanol-powered container ships for 2025 in Yangshan Port Area on 1 January.

SIPG’s bunkering vessel Hai Gang Zhi Yuan refuelled Ane Maersk with 3,000 metric tonnes (mt) of green methanol. The event also marked the second time the same bunkering vessel refuelled Ane Maersk.

The first-ever STS green methanol bunkering operation in Shanghai Port took place in April 2024 involving Astrid Maersk, which also marked the first green methanol bunkering in China.

Shipping giant A.P. Moller – Maersk (Maersk) announced the first green methanol bunkering with simultaneous cargo and bunkering operations in China, involving its containership Astrid Maersk.

Hai Gang Zhi Yuan is the first methanol bunkering vessel in the port.

Manifold Times previously reported SIPG stating Shanghai Port’s goal is to reach an LNG bunkering capacity of 1 million cubic meters (m3) and a green methanol bunkering capacity of 1 million mt by 2030, achieving a “double-million” target.

Currently, Shanghai Port operates two LNG bunkering vessels and one methanol bunkering vessel, with plans to add one more of each soon.

In 2023, SIPG also signed a MoU with Maersk to explore green methanol fuel vessel-to-vessel bunkering operation after the delivery of Maersk’s green methanol container vessels in 2024.

Photo credit: A.P. Moller – Maersk
Published: 8 January, 2025

Alternative Fuels

Shanghai Port ramps up LNG and methanol bunkering to achieve ‘double-million’ target

Shanghai Port’s goal is to reach an LNG bunkering capacity of 1 million cubic meters and a green methanol bunkering capacity of 1 million metric tonnes by 2030, says SIPG.

Published

6 days ago

January 7, 2025

Admin

CMA CGM achieves 100th SIMOPS LNG bunkering operation in Shanghai

Shanghai International Port Group (SIPG) recently said Shanghai Port’s goal is to reach an LNG bunkering capacity of 1 million cubic meters (m3) and a green methanol bunkering capacity of 1 million metric tonnes (mt) by 2030, achieving a “double-million” target.

Shanghai Port has completed 125 bonded LNG bunkering operations for international vessels, with a total bunkering volume of 730,000 m3 in 2024.

“LNG bunkering services are becoming regular services at the port, with expected annual bunkering volume reaching 450,000 m3 in 2024, a growth of over 70%,” it said.

Shanghai Port is also on track to achieve full coverage of LNG bunkering for its container terminals.

In April last year, Shanghai Port successfully completed China’s first green methanol bunkering operation for a large container vessel, marking a historic milestone for China.

Shipping giant A.P. Moller – Maersk (Maersk) announced the first green methanol bunkering with simultaneous cargo and bunkering operations in China, involving its containership Astrid Maersk.

By 2025, Shanghai Port will establish regular green methanol bunkering services.

Currently, Shanghai Port operates two LNG bunkering vessels and one methanol bunkering vessel, with plans to add one more of each soon.

Manifold Times previously reported SIPG signing a Memorandum of Understanding (MoU) with Korea-based integrated logistics company HMM to cooperate in the supply of clean marine fuel, focusing on bunkering methanol and LNG at Shanghai Port.

In 2023, SIPG also signed a MoU with Maersk to explore green methanol fuel vessel-to-vessel bunkering operation after the delivery of Maersk’s green methanol container vessels in 2024.