Advent Technologies Holdings Inc (ADN)

[WeTheMarket]

Cargill orders landmark methanol-powered bulkers in Japan
January 12, 2023
https://splash247.com/cargill-orders-landmark-methanol-powered-bulkers-in-japan/

With 2023 being tipped by many as the year methanol goes mainstream as shipping’s alternative fuel for the 2020s, an important agent of change has stepped forward.

Commodities giant Cargill has linked with trading house Mitsui & Co to order two kamsarmax bulk carriers at Japan’s Tsuneishi Shipbuilding. The landmark vessels are scheduled to deliver in the first quarter of 2026. No price has been revealed.

Japanese shipyards are eagerly awaiting further methanol-fuelled bulk carrier orders with Hong Kong’s Pacific Basin likely to be among the first shipowners to sign up. Pacific Basin is working with Mitsui & Co and Nihon Shipyard, Japan’s largest shipbuilding conglomerate, on its first methanol-fuelled orders, due to be announced soon.

Methanol going mainstream formed a key plank of yesterday’s Splash maritime tech 2023 deep-dive.
Carl Schou, president of Wilhelmsen Ship Managment, told Splash 2023 will be the year where the demand and supply equation will solve the choice of fuel for the next generation of ships.

"We are seeing an increase in traction for methanol and in my opinion this will be the year that methanol is embraced by the wider industry which includes shipowners, suppliers like engine-makers and tank and infrastructure in the main bunkering ports,” Schou said.

Analysis from class society DNV shows methanol was the second most popular alternative fuel choice for newbuild orders last year after LNG, with 35 ships ordered, bringing the total count to 82 ships.