Making methanol a viable fuel for the shipping industry

Fuel for Thought: Methanol, from Lloyd’s Register (LR), found that most engine makers will have dual fuel engine models in the near term and there is significant evidence of interest from shipowners.

“Methanol’s time to shine as an alternative fuel candidate for the maritime energy transition is long overdue,” said Douglas Raitt, regional advisory services manager for Asia, Lloyd’s Register.

”The Fuel for Thought report shows how crucial the commercial scale up of green and blue methanol production is if the fuel is to be widely adopted by the maritime industry. We are, however, seeing positive signs with continued growth in technology and community readiness for methanol.”

Feasibility

By 2030 it is estimated that methanol could account for 20% of the vessel orderbook.

Safe bunkering guidance has already been written and has laid the groundwork for future international safety requirements and class regulations.

But uptake is slow.

The report said that due to the low production of green methanol and the current orderbook, availability of the fuel is a major issue with low supply driving up prices.

Lack of methanol availability could also lead to questions as to whether methanol produced will be certified as green, which ensures that the greenhouse gas (GHG) emissions are accounted for as part of a full lifecycle assessment.

Currently, the majority of methanol produced at scale is sourced from natural gas and is not renewable.

The report also identifies why the energy density of methanol in comparison to current diesel and fuel oils could also present a stumbling block for its widespread use as a marine fuel. Vessels will require up to two and half times the amount of methanol than fuel oil for a specific consumption.

Fuel for Thought: Methanol is the first instalment in LR’s ‘Fuel for Thought’ series which will feature reports on ammonia, biofuels, carbon capture technologies, nuclear power, hydrogen, battery and electric power and the transition of LNG.

The series will analyse the safety, production, economic drivers and technology of each energy source.