Pacific Basin selects methanol as preferred fuel for commercially viable zero-emission vessels
In Hong Kong, dry bulk shipping firm Pacific Basin Shipping Limited said it has selected green methanol as the biofuel around which it expects to build zero-emission ships.
In May 2022, the company had entered into a memorandum of understanding with Nihon Shipyard Co., Ltd and Mitsui & Co. to cooperate on the development of zero-emission vessels and potential investment in related green fuel bunkering infrastructure. The firm noted that it has now completed all the feasibility assessment of the various potential green fuels and have concluded that green methanol is currently the best fuel around which to plan our first generation of zero-emission vessels.
Martin Fruergaard, CEO of Pacific Basin, said: ‘‘Drawing on the collective expertise of our partners, we are confident that methanol is currently the most suitable future fuel for Handysize and Supramax bulk carriers, and we believe the infrastructure to produce and distribute green methanol is coming. We are now embarking on the next stage of our decarbonization project, which is to develop a highly efficient ship design around which we plan to contract our first generation of dual-fuel zero-emission newbuildings, again in collaboration with our Japanese partners.”
The company operates around 250 dry bulk ships of which 116 are owned and the rest chartered.
Category: Fuels
