South Korean flagship carrier HMM is the latest container line to move for methanol-fuelled tonnage, announcing today orders for nine 9,000 teu vessels, which will deliver from 2025 through to 2027. The orders, worth a combined KRW1.41trn ($1.12bn), are split between Hyundai Samho Heavy Industries and HJ Heavy Industries with the former responsible for building seven of these landmark vessels.
HMM plans to put the ships on routes to South America and India.
HMM has also signed a memorandum of understanding with five domestic and foreign companies, including European Energy, PTTEP, and Hyundai Corporation, on the production and supply of methanol.
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.
In Splash’s annual maritime tech preview, many respondents identified 2023 as the year that methanol steps up to become shipping’s main alternative fuel.
“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,” commented Carl Schou, president of Wilhelmsen Ship Management.
Commenting today on the fast-growing interest in methanol, Bjarne Foldager, senior vice president at MAN Energy Solutions, one of the key engine suppliers for this type of propulsion, said: “In a market that has seen a rapidly increasing demand for decarbonised transport from its major players, the interest in methanol as a fuel has surged and – at this moment in time – represents more than 30% of all our current, open pipeline projects across a broad range of vessel segments.”
