The year 2023 is predicted by many to be the year methanol becomes a common alternative fuel for shipping in the 2020s. Global conglomerate Cargill has joined hands with trading house Mitsui & Co to order two KAMSARMAX bulk carriers at Japan’s Tsuneishi shipbuilding. The vessels will be delivered by the first quarter of 2026.
Further orders for methanol-powered bulk carriers are eagerly awaited by Japanese shipyards, with Hong Kong’s Pacific Basin likely to be among the first ship-owners to sign up. Pacific Basin has partnered with Mitsui and Nihon Shipyard and their first methanol-fueled order is to be revealed soon.
Carl Schou, President of Wilhelmsen Ship Management, stated in a news report that 2023 will be the year when the choice of fuel for the next generation ship will be adopted and the supply and demand equation will be solved. He further stated that Methanol is gaining ground, and many ship owners in the major bunkering ports will be looking to adopt it in their daily operations.
An analysis from class society DNV concluded that methanol was the second most prevalent alternative fuel choice for new orders last year after LNG.