New research sponsored by Swiss methanol producer and shipowner Proman backs up its view that the fuel is the best bet for shipping decarbonisation now and moving forward.

The group tasked clean energy investment bank Longspur Research with looking at all the sustainable bunkering options for the sector in a market worth $105bn per year.

Proman argues methanol is already commercially and technically viable, with its safety confirmed as a ship fuel by the International Maritime Organization in November 2020.

“Unlike the majority of other alternative marine fuels, methanol reduces emissions in the short, medium and long term,” the company said.

Proman is building a series of methanol-ready tankers in China with Sweden’s Stena group.

The group believes investment in sustainable methanol production is increasing year on year, meaning that shipowners switching to methanol now will benefit from the rising availability of low-carbon blue and sustainable green methanol.

Longspur found battery power “severely limited” by low energy density as far as long-haul shipping is concerned. Hydrogen in gas form is also limited, but liquid hydrogen is acceptable, as is ammonia, the study found.

Biomethane and methanol are much closer to the high density seen in fossil fuel solutions, while emission reductions are greatest for biomethane, green ammonia, green methanol and hydrogen.

“However, ammonia has a question mark over nitrous oxide emissions, which can potentially increase its global warming potential as a fuel,” Longspur said.

A toxic concern?

“Ammonia also has usability concerns given its toxicity and associated handling requirements,” the company added.

Hydrogen scores well on these areas with the possible exception of flammability, although this tends to be overstated, Longspur argues.

“Methanol also does well, given its relative lack of eco-toxicity and although some care is required to avoid human consumption, this is easily managed,” the company said.

And methanol is cheaper to get to the point of delivery, research showed.

“Taking all these factors into account suggests methanol is the best solution available today,” Longspur concluded.

“It is dense enough to be useable without significantly displacing load capacity and it is useable without too many hazards. It can be bunkered vessel to vessel or shore to vessel,” the company added.

Some of the world’s largest shipping companies have recently backed methanol.

In January 2022, AP Moller-Maersk increased its order from eight to 12 large container ships to run on e-methanol, with delivery expected in 2023 and 2024.

Significant investments have also been made by leading engine manufacturers MAN Energy Solutions and Wartsila in methanol fleets and technology.