With the advent of new and troubling climatic phenomena, governments and international organizations all across the world are scrambling for solutions to the increasing carbon and GHG content in the atmosphere. The spillover of this is being felt in the marine industry as well, such as IMO’s 2030 and 2050 goals. Methanol is shaping up to become a promising alternative fuel, as it ticks most of the boxes that shipping operators desire in a fuel of the future. And acceptability of methanol is increasing probably due to the consideration that a perfect fuel that solves all our problems may never be discovered in time.
What Boxes Does Methanol Tick on the Perfect Fuel List?
Methanol has many things going for it but indisputably the most important factor in its favor is the maturity of the technology in handling methanol. Methanol has many uses in production and manufacturing other than it being used as a fuel, such as being used in the production of polymers namely, plastics, paints, varnishes, and cleaning products. All this has put methanol on the list of top 5 transported commodities in the world already, with a remarkable base of knowledge regarding the handling and transport of methanol present. This is a considerable edge over competitors such as Hydrogen and electricity used to drive ships as there is a well-developed infrastructure and supply chain already available for the production and transport of methanol.
If the global shipping industry were a country, it would be the world’s sixth-highest CO2 emitter, ahead of Germany. As an international industry, shipping was not covered by the 2015 Paris climate change agreement that focused on individual nations’ responsibility for critical emissions. But as unprecedented heatwaves, forest fires and flooding raise global awareness of climate change, the shipping industry is starting to make up for lost time.
How significant is their response? And was Maersk’s recent announcement of investing over US$1.4bn in eight post-Panamax containerships that can run on methanol or bunker fuel just a drop in the proverbial ocean? Let’s take a closer look at how shipping is responding to the climate crisis.
There’s no doubting the magnitude of the problem. And the urgent need to tackle it. Maritime shipping accounts for nearly 3% of the world’s annual CO2 emissions, says the IMO. In 2018, IMO delegates agreed to cut emissions by 50% from 2008 levels by 2050. But with less than three decades to go, the target seems more unattainable than ever. Developing viable alternatives to diesel fuel is a more time-critical challenge than ever before. Can green ammonia solve shipping’s carbon crisis?
To date, IMO is the only organization worldwide that has adopted energy efficiency measures that are legally binding across the world. IMO also regulates the emission standards for ships, which are more strict in areas designated as Emission Control Areas (ECAS). As the MARPOL Annex 6 regulations restricting air pollution, another of IMO’s measures, is progressively setting more exacting standards, the shipping industry is looking for alternatives; such as ships powered by distillate fuels, using scrubbers, alternate fuels such as LNG, Hydrogen, or ammonia, even nuclear powered or completely battery-powered ships are a possibility. However one of the most feasible possibilities in the short to mid future is LNG.