Name
Concurrent Technical Session 4A: Methanol – A Low Emission Liquid Marine Fuel for Today and the Future
Date & Time
Wednesday, April 19, 2023, 4:00 PM - 4:45 PM
Description

With the global shipping industry transitioning to lower emission fuels that improve air quality and lower carbon emissions, methanol has emerged as a leading alternative marine fuel. Major shipping companies around the globe are increasingly ordering methanol fueled vessels and existing global methanol supply chain infrastructure is being leveraged to supply methanol as a marine fuel. Headquartered in Vancouver, B.C., Methanex Corporation, the world’s largest producer and supplier of methanol, has been the leader supporting the commercialization of methanol as a marine fuel since its inception. Methanex’s shipping subsidiary, Waterfront Shipping, has been operating methanol dual-fuel vessels since 2016 and currently has 18 methanol dual-fuel vessels in its fleet capable of running on both methanol and traditional bunker fuel. In 2015, Methanex also worked with partners in Europe on the conversion of one of the world’s largest ropax ferries to operate on methanol. Methanex has been involved in multiple other projects to support methanol marine fuel commercialization and continues to engage with shipping companies across the sector to support their commercial assessments of methanol and methanol supply. Methanol is a commercial ready marine fuel, and like diesel, is a liquid under ambient conditions and can utilize the existing diesel supply chain and bunkering infrastructure with minor modifications. Methanol has been cost competitive with diesel on an energy equivalent basis, incremental vessel costs are modest, and a recent third-party study recognized methanol as the safest fuel versus other alternative fuels. Methanol also offers multiple pathways to reduce greenhouse gas emissions to support the shipping industry’s transition to a low carbon future.