World News
2022 Saw Total of 35 Methanol-Fuelled Ship Orders
A total of 35 methanol-fuelled ships were ordered last year, according to the latest data from classification society DNV.
The addition of last year's total means some 82 methanol-fuelled ships are now on order or in operation, the company said in an emailed statement on Wednesday.
Orders for dual-fuelled ships with methanol propulsion are likely to grow this year, Martin Wold, principal consultant in DNV's Maritime Advisory business, said in the statement.
"Compared to LNG, methanol fuel systems are less costly and easier both for the yard to fit -- in particular on smaller vessels -- and for the owners to operate," Wold said.
"2022 was the year in which methanol really established itself as an alternative to LNG, and engine makers report about record high interest for methanol capable engines.
"Concerns around sourcing and the scalability of green methanol in the short to medium term will remain the main slowing factor here."
Orders from container line AP Moller-Maersk have been the biggest driver of methanol propulsion technology over the past few years. But 2022 also saw large boxship orders come from CMA CGM and COSCO Shipping.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
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| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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