Methanol Institute publishes first comprehensive guide to methanol as bunker fuel
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by Admin
The Methanol Institute (MI) on Wednesday (15 November) published the first comprehensive guide to methanol as a marine fuel.
The report provides an analysis into the use of methanol as a marine fuel considering four key factors: compliance with emissions reduction legislation, track-record, cost, and performance compared to other alternative bunker fuels.
As the shipping industry continues its transition towards net carbon-neutral operations, MI said owners are increasingly choosing methanol as a fuel that can help them progressively reduce emissions in line with regulatory targets.
“MARINE METHANOL Future-Proof Shipping Fuel has been produced to help stakeholders across the industry access the information they need to support decision-making on which alternative fuel is right for their fleet,” it said.
Sections of the report address regulatory drivers, environmental performance, engines and fuel systems, bunkering, handling and safety characteristics, costs and pricing, availability, and feedstocks for conventional and renewable products.
Also included in the guide are case studies on first movers, including AP Moller-Maersk, Waterfront Shipping, Proman Stena Bulk, and the conversion of ropax ferry Stena Germanica.
In the report’s closing statement, MI said shipping operators would have no problem sourcing methanol, as it is a globally traded commodity found in over 120 ports and produced in over 90 facilities with an aggregate production capacity of ~120 million tonnes.
By 2050, production capacity is expected to grow to 500 million tonnes, out of which 80 percent will be ultra-low carbon e-methanol or bio-methanol, according to IRENA.
As for cost-effectiveness, MI said a recent study has estimated that e-methanol and bio-methanol are the most cost-effective low carbon fuels by total cost of ownership.
“However, low carbon fuels are two to eight times more expensive than their fossil counterparts. This highlights the need for regulatory measures to encourage the widespread uptake of low carbon marine fuels, including e-methanol and bio-methanol.”
Note: The full ‘MARINE METHANOL Future-Proof Shipping Fuel’ report can be viewed here.
Photo credit: Methanol Institute
Published: 17 November, 2023
