Danish container ship operator Maersk has secured enough green methanol, 500,000 tonnes annually, from Beijing-based green energy provider Goldwind Science & Technology Co to power half its 24-ship methanol powered orderbook.
Latest figures from DNV indicate that there are now 230 ships in service or on order that will operate on methanol as fuel, but the tank space required is considerably higher than conventional fuels.
Mumbai-based Dockendale Ship Management and methanol specialists Danish Green Marine are launching a joint venture ship management company focused on methanol-powered ships.
The development of dual-fuel engines for ammonia and methanol is accelerating and will be the norm for ships combined with energy saving devices and technology.
Maritime investment advisor ProMarine A has launched the first sustainable shipping fund called the Low Emission Methanol Shipping Company or LEMSCO, but questions remain about how sustainable this fund really is.
Shipbuilder Damen has gained Approval in Principle (AiP) for methanol-powered workboats as it looks to extend the use of the fuel to smaller vessels.