Stamford Shipping and Green Marine partner to build methanol dual-fuel vessels

Singapore-based dry bulk and tanker firm Stamford Shipping and Danish maritime firm Green Marine have formed a joint venture (JV) to build and manage methanol dual-fuel vessels.

PHOTO: Getty Images

The JV, which has been set up in Singapore, intends to build and manage methanol dual-fuel propulsion vessels, for different shipping segments.

Green Marine believes technologies to utilise methanol as fuel are available now and can deliver “an immediate economic solution to reduce CO2 and NOx emissions, and to virtually eliminate SOx and particulate matters emissions.”

“The development of methanol propulsion engines provides an excellent opportunity to invest in commercially viable sustainable shipping,” the maritime firm adds.

Methanol is a popular choice for decarbonizing the shipping sector because of its zero-emission potential. This alternative marine fuel has been in the news this year.

So far this year, Singapore port and Egypt’s East Port Said completed their first-ever ship-to-ship methanol bunkering operation, and China's first dual-fuel methanol bunker ship got class approval.

Classification society’s DNV data showed there were 216 confirmed methanol-fuelled vessels in operation and on order in September.

By Tuhin Roy

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