- Methanol as a marine fuel shows growing technology and community readiness but faces obstacles in pricing, availability, and carbon accounting.
- Despite its feasibility, methanol’s lower energy density compared to traditional fuels hinders widespread adoption in the maritime industry.
- LR’s ‘Fuel for Thought’ series analyses various alternative fuels, highlighting the potential and challenges for their role in decarbonization.
The Expanding Technology
The report highlights the promising advancements in methanol technology, with most engine makers developing dual fuel engine models. There is significant interest from shipowners, and by 2030, methanol could potentially account for 20% of the vessel orderbook. Discover how the industry is embracing this alternative fuel and progressing towards a multi-fuel future.
A Growing Momentum
While technology readiness for methanol is high, community readiness is catching up. Drawing on the experience of transporting methanol as cargo and using it as a fuel over the last decade, the industry is paving the way for its safe adoption. Learn about the groundwork laid for international safety requirements and class regulations for methanol-powered vessels.
Overcoming Challenges
Despite its potential, methanol faces several obstacles that impede its further development. Pricing and availability are major concerns, as the low production of green methanol coupled with limited supply can drive up costs. The lack of certified green methanol raises questions about its carbon accounting, essential for a comprehensive lifecycle assessment. Delve into the hurdles that need to be surmounted for a sustainable methanol adoption.
The Barrier to Widespread Use
Compared to traditional diesel and fuel oils, methanol’s lower energy density poses a challenge for its widespread use as a marine fuel. Vessels may require significantly larger quantities of methanol to match the performance of conventional fuels. Explore the implications of this energy density disparity and potential solutions for overcoming this obstacle.
Methanol holds the potential to be a crucial player in the maritime industry’s decarbonization efforts. While technology and community readiness show promise, overcoming challenges in pricing, availability, carbon accounting, and energy density is critical for its wide adoption. As we look forward to future editions of the ‘Fuel for Thought’ series, stay tuned for our analysis on other alternative fuels shaping the industry’s transition towards a greener future.
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