Methanol Institute: Potential demand for methanol bunker fuel reaches 17.1 million mt per annum
Current orderbooks show the top five orders for methanol dual fuel vessels coming from Maersk, CMA CGM, Evergreen, X-Press Feeders, COSCO Shipping and HMM, states Chris Chatterton.
The potential demand for methanol as a bunker fuel has currently risen to 17.1 million metric tonnes (mt) per annum, states the Chief Operating Officer of global methanol industry trade association Methanol Institute.
Chris Chatterton shared the observation with delegates at Session 3: Alternative fuels: Unlocking their potential to transform shipping of the APPEC 2023 conference on Wednesday (8 September) during his session Methanol: The near-term alternative fuel.
“Global demand and production for methanol in 2020 was 98 million mt and this figure is roughly calculated to reach around 500 million mt by 2050, according to a study by the International Renewable Energy Agency (IRENA),” said Chatterton.
“Broad sub-vertical markets across both chemicals and fuel applications for methanol results in shipowners being subjected to less price volatility, predictable supply, and consistent quality when choosing to use to material as a bunker fuel.
“Additionally, established trading hubs for methanol already mean the product is available for consumption as marine fuel at over 100 ports.”
To date, the 25 methanol-fuel vessels, mainly product/chemical carriers, operating globally will be joined by an additional 165 vessels on order at a future date, he said.
Current orderbooks show the top five orders for methanol dual fuel vessels coming from Maersk, CMA CGM, Evergreen, X-Press Feeders, COSCO Shipping and HMM – mostly purchasing containerships.
Moving forward, Chatterton expects a total of 1,200 methanol-fuelled vessels of various designs, including containerships, bulk carriers, chemical tankers, ferries, harbourcraft, dredgers, OSV, VLCCs, and car carriers, to be operating by 2030.
Chatterton in July told Manifold Times he expects a major portion of the methanol-fuelled fleet to be receiving fuel at the Port of Singapore.
Singapore’s bunkering sector, meanwhile, is gearing up to receive commercial methanol bunkering operations.
International laboratory testing services firm Eurofins has expanded operations to include surveying, sampling and testing packages for methanol bunker fuel within its product portfolio.
Consort Bunkers Pte Ltd has placed a newbuilding order for six 6,500 dwt IMO Type 2 bunker tankers capable of delivering a wide variety of conventional marine fuels including biofuel and methanol.
During Singapore Maritime Week (SMW 2023), classification society DNV joined a working group on methanol bunkering, managed by the Standards Development Organisation at Singapore Chemical Industry Council (SCIC-SDO).
Golden Island Diesel Oil Trading Pte Ltd, which has already finished the design phase for its methanol bunkering tanker, is planning to start bonded methanol bunkering operations at the republic in 2026.
In 2022, several players including PTT Exploration and Production Public Company Limited, Air Liquide, YTL PowerSeraya Pte. Limited, Oiltanking Asia Pacific Pte. Ltd., Kenoil Marine Services Pte Ltd, and A.P. Moller – Maersk A/S signed a Memorandum of Understanding to start a ‘Green Methanol Value Chain Collaboration’ feasibility study project.
European Commission clears acquisition of OCI methanol business by Methanex
Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active.
The European Commission on Wednesday (14 May) said it has approved, under the EU Merger Regulation, the acquisition of sole control of the global methanol business of Netherlands-based OCI Global by Canada’s Methanex Corporation.
EC said the transaction relates primarily to the market for the production and supply of methanol.
“The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active,” it said.
“In particular, the Commission examined the effects of the transaction on the supply of methanol in the European Economic Area (EEA).”
The EC found that the transaction does not raise concerns given the fragmented nature of this market in the EEA, and the existence of several alternative providers to which customers could switch following the transaction.
“The notified transaction was examined under the normal merger review procedure,” it added.
Manifold Times previously reported Methanex entering a definitive agreement to acquire OCI’s international methanol business for USD 2.05 billion.
The transaction includes OCI’s interest in two world-scale methanol facilities in Beaumont, Texas, one of which also produces ammonia. The transaction also includes a low-carbon methanol production and marketing business and a currently idled methanol facility in the Netherlands.
In 2023, Maersk signed a deal with OCI on the delivery of green bio-methanol for the maiden journey of its first methanol-enabled container vessel.
Note: More information is available on the EC’s competition website, in the public case register under the case number M.11812.
Tsuneishi delivers world’s first methanol dual-fuel Ultramax bulker to NYK
“Green Future” was delivered at Tsuneishi factory on 13 May and will be chartered by NYK Bulk & Projects Carriers, an NYK Group company, from Kambara Kisen.
Tsuneishi Shipbuilding on Wednesday (14 May) said it has delivered the world’s first methanol dual-fuel Ultramax bulk carrier, Green Future.
The 65,700 dwt vessel was delivered at its factory on 13 May and will be chartered by NYK Bulk & Projects Carriers, an NYK Group company, from Kambara Kisen.
Tsuneishi Shipbuilding said the vessel maintains the high cargo capacity and fuel efficiency characteristic of the TESS66 Aeroline design series, while enabling more sustainable operations through the use of methanol as a fuel.
The methanol fuel tank has been positioned to maximise safety and facilitate smooth cargo handling while maintaining loading efficiency. It is also equipped with a fuel-efficient main engine and Tsuneishi’s proprietary Aeroline technology to reduce wind resistance, delivering superior fuel performance.
Mr Okumura Sachio, Representative Director, President & Executive Officer of Tsuneishi Shipbuilding, said: “This delivery marks just the beginning. We will continue constructing methanol dual-fuelled vessels at our overseas facilities and remain steadfast in our pursuit of technological innovation to contribute to a more sustainable maritime industry and global environment.”
NYK said the vessel is the first bulk carrier in the NYK Group to be equipped with a dual-fuel engine that uses methanol and fuel oil.
Vessel Particulars
LOA: 199.99 m Breadth: 32.25 m Depth: 19.15 m Deadweight: approx. 65,700 metric tonnes Capacity: approx. 81,500 m3 Draft: 13.8 m
Photo credit: Tsuneishi Shipbuilding Published: 15 May, 2025
Green Shiptech China Congress to explore alternative bunker fuels and ship technologies
LNG, methanol and ammonia as well as fuel cell integration will be among key issues discussed at the annual conference which will be held on 25 to 26 September in Shanghai.
Ridge China on Wednesday (14 May) announced it will be hosting the 14th Green Shiptech China Congress (GSCC), an annual conference which will be held on 25 to 26 September in Shanghai.
More than 4,400 experts and decision makers from governments, classification societies, shipowners, shipyards, research institutes, technology/equipment suppliers and consulting companies attended the previous GSCC from 2012 to 2024.
For 2025, over 400 industry experts, corporate decision makers and government officials will be engaged in comprehensive discussions on current issues of IMO, EU, USCG, China MSA’s policies and regulations, designs and standards for new ship models, innovative and sustainable green ship technologies at this annual conference.
Alternative bunker fuels such as LNG, methanol and ammonia as well as fuel cell integration will be part of the important issues discussed at the event.
Speakers will be from
IMO
European Commission
U.S. Coast Guard
China MSA
Financial Institutions
Maritime Research Institutes
Solution & Technology Providers
Shipowners
Shipyards
Classification Societies
Key topics
Policies and Regulations Update and Interpretate by IMO, European Commission, U.S. Coast Guard and China MSA
Retrofitting Vessels to Achieve Decarbonization Goals
Energy Efficiency Continues to Be Key for Decarbonization
Decarbonization Through Digitalization
Digital Technologies As a Key Enabler for Emissions Reduction
Impact of a Hull Coating Upgrade on Hull Efficiency
LNG As Marine Fuel: Pivoting Towards Cleaner Shipping
Methanol As a Marine Fuel
Ammonia’s Credentials As a Green Fuel
Wind Propulsion Technology
Fuel Cell Integration: Upcoming Challenges and Opportunity
Propelling Carbon-neutral Shipping with Green Engines and Alternative Fuels
Next-generation Electric and Hybrid Marine Propulsion Technologies and Components