Methanol Shipments Surpass 200 Vessel Milestone in July Due to Increased Orders

Recent data highlights a significant shift in the maritime industry, as the month of July witnessed a substantial increase in the number of vessels adopting alternative fuels. While 14 LNG-fueled ships made their entry, the spotlight was undeniably on methanol, as an impressive total of 48 methanol-powered ships, including retrofits, joined the maritime fleet. The turning point came at the start of July, with MAN Energy Solutions leading the charge. The company inked a pivotal deal with Seaspan Corporation, a Hong Kong-based shipowner, and Hapag-Lloyd, a prominent German liner company. The collaboration aims to facilitate the conversion of ships equipped with individual MAN B&W S90-type fuel-oil-powered engines into dual-fuel ME-LGIM engines. This innovative technology allows vessels to run on environment-friendly green methanol.

This agreement extends to include an option for 45 additional engine retrofit solutions. The conversions, by utilizing green methanol, have the potential to reduce CO₂ emissions by a substantial 50,000 to 70,000 tonnes annually per vessel.

Methanol's appeal lies in its lower carbon content and compatibility with existing ship engine technology. Its maturity and viability make it an attractive choice for ship owners seeking greener alternatives.

The introduction of methanol as a maritime fuel marks a new phase for the container shipping industry. The past month marked a significant milestone with Maersk's inaugural delivery and bunkering of a methanol-powered feeder vessel. This achievement marked the first-of-its-kind bunkering operation for methanol-powered container ships, revealing the industry's learning curve in handling and bunkering methanol-based vessels.

Although relatively new to the container shipping realm, valuable insights can be gleaned from the tanker sector, which has employed methanol as a marine fuel for several years.

The history of methanol as a marine fuel dates back to 2015 when the Stena Germanica ferry became the world's first ship to operate on methanol. The ferry underwent a groundbreaking conversion at Remontowa Shipyard in Poland, boasting a Wartsila 4-stroke engine capable of running on methanol or traditional marine fuels.

In 2016, Waterfront Shipping, a subsidiary of Methanex Corporation, received the world's first ocean-going methanol-powered vessels. These ships feature dual-fuel, two-stroke engines ME-LGI by MAN B&W, allowing them to operate on a range of fuels including methanol, fuel oil, marine diesel oil, or gas oil.

Presently, a fleet of 23 methanol dual-fuel tankers are actively servicing maritime routes worldwide, underscoring the industry's embrace of greener alternatives and marking a pivotal step toward a more sustainable maritime future.