As has been well telegraphed, China’s state-owned shipping behemoths are going hard after methanol as a future fuel.
To this end, COSCO, the world’s largest shipowner, has teamed with three other state-run firms – State Power Investment Corporation Limited (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC) – to develop a green methanol industrial chain which will comprise the production, transportation, refuelling, and certification of green methanol for ships.
COSCO recently placed an order for 12 methanol dual-fuel container ships, each with a capacity of 24,000 teu.
“Establishing a green methanol industrial chain is not only necessary for shipping companies to align with the new trend of green, low-carbon, and intelligent shipping, but also to offer customers sustainable and eco-friendly global supply chain logistics services,” COSCO stated in a release.
Earlier this month, China Merchants, the nation’s number two owner, ordered the world’s first methanol dual-fuelled VLCC. China Merchants also has methanol-powered car carriers and aframaxes on order.
