Methanol: The Future Eco-Friendly Ship Fuel

The International Maritime Organization (IMO) has set a policy to reduce greenhouse gas (GHG) emissions from ships by at least 30% by 2025 and at least 70% by 2050. Starting this year, regulations on GHG emissions will apply not only to new ships but also to ships in operation. Major global shipping companies are stepping up efforts to secure eco-friendly, high-value-added ships, such as those using LPG, methanol, ammonia, and hydrogen propulsion.

According to a September 2022 survey by the Shipping & Shipbuilding Forecast Forum, ammonia, hydrogen, and methanol are expected to be major alternative fuels by 2050. While LNG fuel is the trend until 2030, orders for ships using LPG, methanol, and ethanol fuels are expected to increase gradually in the future.

Methanol is the next-generation fuel that the shipping industry is paying attention to. Compared to existing ship oil, it emits fewer pollutants such as sulfur oxides, nitrogen oxides, and greenhouse gases, drawing attention as an eco-friendly fuel in the carbon-neutral era.

Methanol previously had limitations in its use as a ship fuel due to its high production cost and high nitrogen oxide (NOx) emissions, but it has emerged as a next-generation ship fuel as production costs have decreased and fuel injection technology to reduce nitrogen oxides (NOx) has developed and advanced.

Unlike LNG, methanol has the advantage of not needing to be cooled or maintained under pressure during transportation. Accordingly, the drying cost is low because a cryogenic bunker tank or a gas treatment system is not required. However, because the energy density is lower than that of LNG, there is also a characteristic that the size of the fuel tank should be larger because a larger amount is needed to achieve the same power output.

Shipbuilding industries around the world are focusing on "methanol propulsion ships," an eco-friendly ship, in line with the decarbonization trend. According to Clarkson Research Standards, major shipowners such as Maersk and CMA CGM are increasingly adopting methanol fuel based on container carriers.

Shipping companies are considering ordering methanol propulsion ships in line with stricter environmental regulations by the International Maritime Organization (IMO). Until now, shipping companies have expanded the development of LNG propulsion ships instead of installing scrubbers and selecting high-quality sulfur oil, but they prefer methanol propulsion ships for long-term carbon neutrality.

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