VPS sees methanol gain traction in the market

From January to September 2024, 49% of gross tonnage ordered was for alternative fuel-ready ships, reflecting the industry’s growing commitment to decarbonisation.

The use of methanol represents a major step forward in reducing shipping’s emissions, but it must be green methanol, derived from sustainable sources like bio-methanol or e-methanol to truly align with decarbonisation goals.

Transformative shift

Global shipping is undergoing a transformative shift, with 2023 witnessing 539 new ship orders capable of running on low-to-zero carbon fuels.

The annual bunkering of 230 million metric tonnes of fuel currently produces 716 million metric tonnes of CO2-equivalent emissions, mostly from traditional fossil fuels.

Methanol offers a cleaner pathway and its infrastructure is expanding, with 13 ports now supporting methanol bunkering.

VPS has led the charge in fuel testing, developing robust protocols for methanol bunkers. The company partnered with Maersk during the Laura Maersk’s maiden voyage in 2023, conducting comprehensive methanol bunkering operations at Singapore, Port Said and Rotterdam.

This included testing under International Methanol Producers and Consumers Association (IMPCA) specifications, with all results meeting stringent standards.

With the International Standards Organisation (ISO) launched its ISO 6583:2024 for methanol as marine fuel and Singapore prepared its own technical standard, VPS continues to play a critical role in advancing methanol use.