Methanol run cargo ships for China

Posted in: China Environment Net on Facebook 7/8/23

Methanol-fueled ships have eclipsed liquefied natural gas (LNG) vessels, claiming the premier position for the highest number of environmentally friendly ship orders placed from January to July this year. South Korea’s shipbuilding sector, which has been cultivating its technological expertise in methanol-powered ships as its future growth engine for years, is at the forefront of driving the global market. Nevertheless, the shipbuilding industries of China and Japan are also making significant strides in their pursuit, intensifying the competition.

Bunkering Industry Association and DNV on Aug. 6, a total of 122 construction contracts for methanol-fueled ships were secured during the period from January to July this year. In comparison, there were 73 contracts for LNG-powered ships within the same time frame. This marks a significant shift from the previous year when LNG-powered ships held the majority at 222 compared to methanol-powered ships at 35.