Newbuilds will be IMO2020 compliant. File image/Pixabay.
The naming ceremony at a South Korean shipyard for two product tankers that run on methanol highlights the potential of the fuel in the marine space, the Methanol Institute has said.
Methanol has handling properties similar to those for conventional distillate fuels and little additional investment is required to make the switch.
"The investment in these vessels is a perfect example of companies looking to explore innovative ways to meet global emission requirements for the marine sector," according to MI's chief operating officer, Chris Chatterton.
"We expect the implementation of the IMO2020 regulations to further increase interest in methanol as a marine fuel that can deliver cost-effective compliance," he added.
In addition to IMO2020 compliance, the two new ships, Mari Couva and Mari Kokako will meet IMO Nox Tier lll regulations.