Global methanol producer Proman, alongside shipping company Stena, has today (21 October) announced their collaboration to develop methanol as an alternative shipping fuel, in a Retrofit & Supply solution that will look to get the industry ready to use this low-emissions fuel.
Under the scheme, Stena’s 140 vessel fleet, in addition to other third party vessels, will be retrofitted to become compatible with methanol.
Methanol has been identified as having significant potential in reducing the maritime industry’s emissions, as it is a clean burning fuel that dissolves in water and rapidly biodegrades. Not only would use of this fuel cut emissions (curbing nitrogen oxide by around 60%), but it would also make a spillage far less hazardous as compared to oil-based fuel spills.
On the announcement, Stena CEO Per Westling said; “We believe that methanol is a clear frontrunner in shipping’s search for fuels beyond the fossil default and we are proud to be playing our part to help build the market for alternative fuels within shipping.”
David Cassidy, Chief Executive of Proman, added: “Methanol is the only available alternative marine fuel that offers immediate emissions reductions, dramatically improving air quality and delivering a clear shipping decarbonisation pathway for 2050 and beyond. Unlike other alternative marine fuels, methanol utilises existing technology and is safe and widely available.”
“Our combined vision is to dramatically accelerate the energy transition in shipping and not only talk about changing our environment but to actually make it happen,” he added. “We will leverage both companies’ ambition and expertise to make methanol more widely available to vessel owners around the world and help them to join us on the transition to a cleaner shipping industry.”
The new Retrofit & Supply solution follows on from a joint venture between the two firms to supply Stena with three methanol-compatible tankers. The first of these is set to be delivered early next year, with an additional three dual-fuel vessels expected in 2023.
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