• Home
  • Press Digest
  • South Korean shipbuilder bets on methanol-powered vessels in decarbonisation push


IAA PortNews is not the author of this article and the editorial opinion can differ from that of the author.

IAA PortNews is not the author of this article and the editorial opinion can differ from that of the author.

  • Источник: https://www.newsncr.com

    2022 August 29

    South Korean shipbuilder bets on methanol-powered vessels in decarbonisation push

    One of the world’s greatest shipbuilders expects orders for methanol-powered ships to surge within the coming many years, as more durable environmental rules intensify a push to make use of various gasoline sources.

    The bullish forecast by Korea Shipbuilding & Offshore Engineering comes as the corporate accelerates away from fossil fuels and competitors with Chinese rivals intensifies.

    “Orders for methanol-fuelled ships will increase sharply for more than 10 years, although LNG [liquefied natural gas] burning ships will remain the mainstream for the next two decades,” chief government Ka Sam-hyun advised the Financial Times in an interview.

    Analysts count on about 50 methanol dual-fuelled vessels to be ordered worldwide earlier than the top of this yr as shipowners in Asia and Europe substitute older container fleets. That compares with orders for 19 methanol dual-fuelled vessels positioned final yr.

    The delivery business is beneath growing stress to decarbonise because the International Maritime Organisation works to chop greenhouse gasoline emissions from ships a minimum of 50 per cent by 2050, in contrast with 2008 ranges.

    With world delivery accountable for 90 per cent of world commerce, the business accounts for 3-4 per cent of worldwide greenhouse gasoline emissions, roughly equal to Germany’s annual emissions, in accordance with Longspur Capital.

    Competition to seize an even bigger share of the nascent market is intensifying between South Korea and China. Building a dual-fuelled methanol vessel is cheaper than one designed to make use of LNG, on account of technological advances and since methanol doesn’t require costly cryogenic bunker tanks and gasoline gasoline dealing with programs.

    AP Møller-Maersk, the world’s greatest container delivery firm, has ordered 12 methanol-powered container ships price $2.2bn from KSOE to be delivered beginning in 2024. In June, it floated a young with shipyards for extra ships working on methanol.

    French delivery firm CMA CGM has additionally positioned a collection of orders for methanol dual-fuel container ships price about $1bn in whole with China’s Dalian Shipbuilding Industry.

    “You cannot replace all fleets with only clean fuel by 2040. LNG is a transitional option but it will last for another generation, given the limited supply of methanol,” mentioned Ka.

    “Ammonia is toxic and still too expensive. Eventually, we should move towards hydrogen ships and electric-motor ships, but it is still too far off.”

    LNG has been broadly used in its place gasoline for delivery firms, however methanol is gaining curiosity amongst shipbuilders. KSOE has received orders to construct 29 methanol-fuelled ships.