Dry Bulk Shows Growing Interest in Methanol Bunkering
More dry bulk carriers could soon be running on methanol. File Image / Pixabay
Interest in methanol bunkering is growing in the dry bulk segment, with the first significant order being placed for methanol-fuelled bulker tonnage.
Commodities firm Cargill has partnered with Mitsui & Co to order two methanol-fuelled Kamsarmax bulkers, maritime news publication Lloyd's List reported last week. The order was signed last month, and the two dual-fuelled vessels are due for delivery by the end of 2025 and early 2026.
A Cargill representative told Ship & Bunker in October that the firm was planning to be operating a methanol-fuelled bulker within a few years.
The order is one of the first signs of interest in methanol bunkering from dry bulk. Another key development came last month as mining firm Vale issued a request for proposals from shipping companies for contracts of affreightment for a new generation of methanol-fuelled Guaibamax very large ore carriers.
Interest in methanol as a marine fuel has grown rapidly over the past two years. But that interest has thus far come largely from the container segment -- between them AP Moller-Maersk, CMA CGM and COSCO currently have 666,100 TEU of methanol-fuelled boxships on order, representing just over 2.5% of current global container capacity.