The Role of Methanol in Shipping’s Energy Transition Explored at LMS

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Published Nov 26, 2022 12:58 PM by The Maritime Executive

[By: ABS]

(LONDON) Leading players in the maritime industry joined ABS and the Methanol Institute (MI) for a deep dive into the potential of methanol as marine fuel to contribute to shipping’s decarbonization objectives.

ABS and MI hosted the London Methanol Summit, bringing together shipowners, shipyards, regulators, ports and methanol producers for an afternoon of panel discussions followed by an evening reception.

Panelists from Maersk, MAN Energy Solutions, Waterfront Shipping, SafeBulkers and the Port of Rotterdam discussed opportunities and challenges for methanol adoption as well as provided insights on the emerging technologies that will support scaling up of methanol infrastructure.

On a second panel focused on the maritime value chain, representatives from MSC, Maersk, Proman and the European Commission’s representative to the International Maritime Organization discussed the viability, advantages and roadblocks in the methanol pathway as well as the regulatory framework and project financing.

“The summit shined a light on one of the most dynamic and important areas of the energy transition – methanol as marine fuel. Methanol is increasingly being recognized as a compelling alternative pathway for owners and operators. With practical benefits related to ease of storage and handling, tank-to-wake carbon intensity reduction, as well as a pathway to carbon neutrality through green methanol, methanol presents an immediate and promising solution,” said Vassilios Kroustallis, ABS Senior Vice President, Global Business Development. “ABS is committed to supporting the safe adoption of methanol by the industry and today’s event is an aspect of that. In this forum, we brought together a unique blend of the people, the companies and the regulators that can help us understand where we are, where we need to go and what must happen in order for long-term change to happen.”

“This ABS-MI summit is a concrete demonstration of the role that methanol is playing today in the shipping industry’s transition to lower carbon and ultimately net carbon neutral operations. The participation of the industry’s leading players across asset ownership, vessel operations, technology, policy and forecasting and methanol supply, gives us a complete insight into the current landscape and what needs to happen to further accelerate the adoption of this clean, sustainable fuel in shipping,” said Greg Dolan, CEO of The Methanol Institute.

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