World News
RINA Approves SRC's Methanol Superstorage for Ships
Classification society RINA has granted approval in principle for methanol superstorage technology developed by SRC.
The technology aims to offer higher methanol storage capacity for ships operating on methanol, SRC said in a statement on its website.
Methanol has a significantly lower energy density than conventional marine fuels, posing a challenge for vessels operating on the fuel. According to the Methanol Institute, MGO has an energy density of 36.6 GJ/m3, whereas methanol delivers just 15.8 GJ/m3.
This disparity means that a methanol-powered vessel must carry approximately 2.4 times more fuel than an MGO-fuelled ship to achieve the same energy output for a voyage. Consequently, dual-fuel vessels need increased methanol onboard storage capacity, which can reduce available cargo space or require more frequent bunkering stops.
SRC's superstorage technology aims to address these challenges by optimizing onboard methanol storage, potentially improving the operational efficiency of methanol-fueled ships.
Its technology can offer up to 85% larger methanol fuel tank capacity for storing methanol bunkers compared to traditional tanks.
"Methanol Superstorage can be retrofitted without significant disruption to a vessel's general arrangement, Alex Vainokivi, innovation manager at SRC Group, said.
"RINA's comprehensive AiP confirms that it is applicable across a full range of ship types."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 532.00 | 3.00 | 658.00 | 4.00 |
| Rotterdam | 504.00 | 5.00 | 663.00 | 10.50 |
| Houston | 531.00 | 4.50 | 685.00 | 4.00 |
| Fujairah | 527.00 | 2.50 | 747.00 | 0.00 |
| Global 20 Ports Average | 560.00 | 2.00 | 760.00 | 2.00 |
| Global 4 Ports Average | 523.50 | 1.50 | 688.00 | 4.50 |
| Global Average Bunker Price | 597.50 | 2.50 | 792.00 | 4.50 |
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