Methanol Institute: Innovative developments and strategic collaborations (Week 27, 1-7 July 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:
Groundwork for the energy transition is seeing more and more shipping companies and their stakeholders prepare for lower carbon operations. Contracts are being placed for new vessels, propulsion systems and the infrastructure that will enable wider use of methanol. Owners continue to put their faith in alternatives with orders for 49 methanol fuel ships ordered in the first half of 2024.
Methanol marine fuel related developments for Week 27 of 2024:
Blue World Completes Testing of Methanol Fuel Cell System for Ships
Date: July 1, 2024
Key Points: Blue World Technologies has completed testing on its 200 kW high-temperature PEM fuel cell system for ships, which runs on methanol. The system, boasting up to 55% electrical efficiency at the commercial stage, promises fuel savings of 20-30%. This breakthrough is set to significantly advance maritime decarbonization. A 1 MW pilot system will be installed on one of AP Moller-Maersk’s methanol-fueled boxships in the first half of 2026, marking a key step in reducing emissions in the shipping industry.
Ta San Shang Marine to Construct Third Methanol-Ready Service Operation Vessel
Date: July 1, 2024
Key Points: Ta San Shang Marine Co. Ltd., a joint venture between Mitsui O.S.K. Lines (MOL) and Ta Tong Marine, has signed an agreement with Damen Group for the construction of its third methanol-ready service operation vessel (SOV). This new vessel, designed to be methanol-ready, will enhance the company’s commitment to adopting methanol as a future marine fuel. The agreement underscores the industry’s shift towards sustainable and environmentally friendly marine operations.
41% of Tonnage Ordered in 1H24 Equipped for Alternative Fuels
Date: July 2, 2024
Key Points: According to Clarksons Research, 41% of the tonnage ordered in the first half of 2024 can run on alternative fuels. This includes 109 orders for LNG-fueled ships, 49 for methanol, 15 for ammonia, 42 for LPG, and 4 for hydrogen. While 54% of tonnage orders were alternatively fueled in the same period in 2022, about 50% of the current total order book is capable of using alternative fuels, indicating a strong shift towards sustainable shipping practices.
Consort Bunkers Forms Alternative Fuels Partnership
Date: July 3, 2024
Key Points: Consort Bunkers, along with ClassNK, Yanmar Asia (Singapore) Corporation, and Taiko Asia Pacific, has signed a memorandum of understanding to develop infrastructure for alternative fuels. This includes the construction of four 7,999 DWT tankers by Cosco Shipping Heavy Industry, capable of bunkering biofuels and methanol. In total, Consort Bunkers has ordered 13 tankers, highlighting a commitment to regional and global implementation of alternative fuel use.
Headway Technology to Equip Four Methanol-Fueled Bulk Carriers with Fuel Supply Systems
Date: July 4th, 2024
Key Points: Headway Technology has signed an agreement to provide methanol fuel supply systems for four 89,000 DWT bulk carriers for Fujian Guohang Ocean Shipping. These systems will include bunkering, transfer, fuel treatment, nitrogen systems, and control and security systems. The vessels, built by Wuhu Shipyard, are scheduled for delivery in 2025-26. Additionally, Headway will supply a methanol fuel system for Fratelli Cosulich’s new methanol tanker, due in late 2025.
Photo credit: Methanol Institute
Published: 12 July, 2024
