Methanol

Methanol Institute: Expanding market influence and technological advancements (Week 37, 9 to 15 Sept 2024)

Shipping industry’s engagement with alternative fuels and methanol in particular took another step forward with creation of Clean Maritime Fuels Platform and Methanex acquiring OCI Global’s methanol business.

Published

7 months ago

September 18, 2024

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 shipping industry’s engagement with alternative fuels and methanol in particular took another step forward with the creation of the Clean Maritime Fuels Platform, a collaboration which seeks to accelerate the development and adoption of clean fuels.

Demand for clean methanol is set to increase as international navies look to adopt alternatives in their support fleets, potentially dramatically increasing demand alongside merchant maritime users who continue to place orders for methanol capable vessels.

Methanol marine fuel related developments for Week 37 of 2024:

Methanex to Acquire OCI Global’s Methanol Business in $2.05 Billion Deal

Date: September 9, 2024

Key Points:

Leading methanol producer and MI member company OCI Global has agreed to sell its methanol business to Methanex for $2.05 billion. The deal includes cash and Methanex shares and is expected to be finalized by mid-2025. The acquisition will significantly strengthen Methanex's global methanol production capacity, especially in Beaumont, Texas, and the Netherlands, supporting the company's leadership in the low-carbon methanol market.

Navies Explore Alternative Fuels Amid Growing Decarbonization Efforts

Date: September 9, 2024

Key Points:

International navies are increasingly considering alternative fuels including biofuels, methanol, and hydrogen to lower their carbon emissions. Although combat vessels may not be the first adopters, non-combat support ships are likely to adopt alternative fuels as logistics and fuel availability evolve. Research teams and defense contractors are actively developing technologies for low-carbon fuels, including methanol, to enhance naval operational efficiency while reducing environmental impact.

Leonhardt & Blumberg Orders Four Methanol-Ready MR Tankers for Future Conversion

Date: September 10, 2024

Key Points:

Germany's Leonhardt & Blumberg has placed an order for four 49,500 DWT methanol-ready MR tankers from Guangzhou Shipyard International in China. The vessels, equipped with open-loop scrubbers and designed for future methanol dual-fuel conversion, are set for delivery starting January 2027. This investment aligns with the shipping industry's focus on reducing carbon emissions and supporting compliance with NOx Tier III and EEDI Phase 3 standards.

Maritime Industry Confidence Grows Amid Transformative Challenges

Date: September 10, 2024

Key Points:

Despite the challenges of decarbonization, evolving regulations, and geopolitical instability, confidence within the maritime industry is rising. The 2023-2024 ICS Barometer Report reveals increasing investments in low-carbon solutions such as methanol, biofuels, and hydrogen. The sector remains confident in its operational agility despite climate risks and regulatory pressures. Key factors influencing the industry's future include fuel availability, regulatory clarity, and the rise of alternative fuels like methanol.

Valmet Secures Methanol Retrofit Order for Two CMA CGM Container Ships

Date: September 12, 2024

Key Points:

Valmet has been awarded a contract by CSSC Qingdao Beihai Shipbuilding to provide automation solutions for retrofitting onboard two CMA CGM container ships which are being converted to run on methanol. The retrofit includes a methanol control and safety system, marking Valmet’s first such automation retrofit in the Chinese marine market. This project is part of CMA CGM’s broader strategy to enhance its fleet’s sustainability by adopting low-carbon fuel technologies.

European Shipowners and Fuel Producers Collaborate to Accelerate Clean Fuel Adoption

Date: September 12, 2024

Key Points:

Leading European shipowners and fuel producers have united to form the Clean Maritime Fuels Platform. This collaboration seeks to accelerate the development and adoption of clean fuels including methanol, hydrogen, and biofuels in response to the EU’s Fit for 55 regulation, which aims for net-zero emissions by 2050. The joint platform will enhance industry co-ordination and address challenges related to the supply and use of low-carbon fuels in maritime operations.

Photo credit: Methanol Institute
Published: 18 September, 2024

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Bunker Fuel

Singapore: GCMD develops calculator to explore IMO GFI-linked pricing system

Free cost and compliance calculator has been developed by its team based on the newly approved GHG emissions pricing framework by IMO’s MPEC 83 recently.

Published

7 days ago

April 16, 2025

Admin

Singapore: GCMD develops calculator to explore IMO GFI-linked pricing system

The Global Centre for Maritime Decarbonisation (GCMD) on Tuesday (15 April) introduced a free cost and compliance calculator that has been developed by its team based on the newly approved greenhouse gas (GHG) emissions pricing framework by the Marine Environment Protection Committee during its 83rd session (MPEC 83).

The calculator will help maritime stakeholders explore how the two-tiered, GHG Fuel Intensity (GFI)-linked pricing system could impact operational costs.

GCMD said the buzz around International Maritime Organization's MEPC 83 and the newly approved GHG emissions pricing framework has been intense — and understandably so.

“To help make sense of it, our CEO Prof. Lynn Loo started with handwritten trajectory calculations to break down the core workings,” it said in a social media post.

“Building on that, our team has developed a simple, accessible cost and compliance calculator to help you explore how the two-tiered, GFI-linked pricing system could impact operational costs.”

The calculator is just one input—its results should be considered alongside other economic and operational factors to inform commercial decisions.

The tool covers covers heavy fuel oil (HFO), liquified natural gas (LNG), B24 biofuel, e-ammonia and bio-methanol.

“Whether you're assessing fuel options, planning newbuilds, or just trying to get a feel for what this might mean for your operations — this tool offers a useful first-cut view. For added clarity, we’ve included the workings on the side so you can trace the calculation process,” GCMD added.

Note: GCMD’s cost and compliance calculator can be found here.

Photo credit: Global Centre for Maritime Decarbonisation
Published: 16 April, 2025

Bunker Fuel

Singapore: Bunker fuel sales increase by 0.5% on year in March 2025

4.47 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in March, up from 4.45 million mt recorded during the similar month in 2024, according to MPA data.

Published

1 week ago

April 15, 2025

Admin

Singapore: Bunker fuel sales increase by 0.5% on year in March 2025

Sales of marine fuel at Singapore port increased by 0.5% on year in March 2025, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.47 million metric tonnes (mt) (exact 4,469,170 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in March, up from 4.45 million mt (4,445,070 mt) recorded during the similar month in 2024.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in March (against on year) recorded respectively 1.62 million mt (+0.6% from 1.61 million mt), 2.33 million mt (-3.7% from 2.42 million mt), 500 mt (+100% from zero), 100 mt (-98% from 5,100 mt) and zero (from zero).

Singapore: Bunker fuel sales increase by 0.5% on year in March 2025

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in March (against on year) recorded respectively 51,900 mt (+100% from zero), 93,700 mt (+42% from 66,000 mt), zero (from zero), zero (from zero) and zero (from zero). A new addition of biofuel blend, introduced in February this year, B100, recorded no sales in March.

LNG and methanol sales were posted respectively at 39,000 mt (+1% from 38,600) and zero (from zero).

A complete series of articles on Singapore bunker volumes by Manifold Times in 2024 can be found below:

Photo credit: Maritime and Port Authority of Singapore
Published: 15 March, 2025

Events

Maritime Week Americas to assess how US policy changes will impact bunkering

Event, taking place in May, will try to assess how US policy changes will impact the day-to-day business of shipping and bunkering, as well as the maritime industry’s shift towards a zero carbon future.

Published

2 weeks ago

April 11, 2025

Admin

Maritime Week Americas to assess how US policy changes will impact bunkering

Maritime Week Americas is coming to the United States amid the trade mayhem and turmoil and will try to assess how US policy changes will impact the day-to-day business of shipping and bunkering, as well as the maritime industry’s shift towards a zero carbon future.

President Donald Trump has wasted no time in overturning the status quo and injecting massive uncertainty into every aspect of world trade, said ship.energy.

With the dust still nowhere near settling, there is no telling when the chaos will end or what the energy, shipping and bunker markets will look like in a month or year from now.

Llewellyn Bankes-Hughes, CEO of ship.energy, founder and organiser of Maritime Week Americas, said: “There is no doubt that the conversations at MWA25 will be livelier that ever as delegates battle to come to terms with a completely new world order. What all this turmoil means to shipping and bunkering, let alone to global, regional, and national economies, will be the question that everyone joining us in Tampa will be asking. Hopefully by the end of the event we will have some answers.”

Maritime Week Americas is always where the key questions are raised and answers are sought. With vigorous debate and frank discussion, well over 250 bunker buyers, suppliers and traders will gather in Tampa for an intense week that includes training, the MWA25 Flagship Conference, and – as always – some unmissable networking.

MWA25 will look at shipping and bunker markets throughout North, Central and South America and the Caribbean, examining traditional bunker markets and the ‘new’ fuels whose take-up is rapidly picking up pace. But can the same be said now for the United States?

Traditional marine fuels are still the mainstay throughout the Americas. The conference will examine fuel quality and quantity issues and take a close look at what is happening in some of the continent’s more active markets, such as Peru and Panama.

There LNG is now a mainstream marine fuel as its availability grows throughout the Americas, with Panama among the newest supply hubs. But is there potential for a backlash over LNG’s green credentials?

Biofuels are also on a fast upward trajectory, with Brazil and other countries now leading the way. But while LNG and biofuels look set to play a key role in fuelling ships for the foreseeable future, other fuels, such as methanol, ammonia and hydrogen may not be too far behind. These, and the full range of alternative fuels will be examined in depth during the MWA Conference.

More ports are now beginning to appreciate the environmental benefits of making shore power available to visiting vessels, with some – such as Miami – currently assessing the benefits of installing electric power facilities and others – such as Seattle – already planning to mandate cold ironing for cruise ships visiting the port. At the same time, more electric-powered vessels are beginning to appear, with Canada’s Montreal and Vancouver currently leading the way with new electric ferries. Meanwhile, the world’s biggest electric-powered ferry is expected to start operating between Buenos Aires in Argentina and Colonia in Uruguay by mid-2025.

For the first time, Maritime week Americas will include an entire session focused on Jamaica, an island determined to revitalise and boost its shipping, maritime and bunkering activities.

As always, MWA25 will feature some exciting networking events, designed to highlight the new venue and to ensure that the delegates take every opportunity to network.

Note: More information on Maritime Week Americas can be found here.

Photo credit: Petrospot
Published: 11 April, 2025