Singapore-based shipowner Pacific Carriers Ltd (PCL) and shipbuilder PaxOcean, both part of the Kuok Group, will study the use of methanol as an alternative fuel in a joint development project (JDP) with ABS
Under the JDP, ABS will evaluate the means and impact of retrofitting a PCL vessel with a propulsion system powered by methanol as an alternative low-carbon fuel option.
“PCL and PaxOcean are forward-looking companies, and as a leader in maritime decarbonisation, ABS is proud to use our deep insight to support their sustainability journeys,” said ABS executive vice president and chief operating officer John McDonald.
Methanol has gained considerable traction among shipowners over the last 18 months, particularly in the container ship sector. Some 47 of the 82 methanol-fuelled vessels in operation or on order are container ships, according to DNV Alternative Fuels Insight.
While a fossil fuel, methanol offers “practical benefits related to ease of storage and handling, tank-to-wake carbon intensity reduction, as well as a pathway to carbon neutrality through green methanol,” noted Mr McDonald. Methanol is traded globally, available in over 100 ports and methanol two-stroke and four-stroke dual-fuel engine technology is available and in use, with more power choices being developed by marine engine designers.
“This partnership with ABS and PaxOcean is part of PCL’s commitment to achieve carbon neutrality by 2050 or earlier,” said PCL managing director and chief executive Hor Weng Yew. “With methanol gaining maturity as a marine fuel, we believe it has great potential to significantly reduce our carbon footprint in the short to mid-term. This study will serve to identify the options we have to adapt our existing ships to handle methanol effectively and safely,” Mr Hor said.
PaxOcean managing director and chief executive Tan Thai Yong said, “Our collaboration with PCL and ABS brings together collective expertise that allows us to work alongside to accelerate the potential use of methanol as a future alternative fuel for ships which will significantly reduce Singapore’s carbon footprint.”
PCL owns and operates a diversified fleet, ranging from dry bulk and break bulk ships to LPG carriers and product tankers.
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