Petrobras to explore business opportunities for e-methano

Petrobras signed a Memorandum of Understanding (MoU) with Danish company European Energy, to investigate the business opportunities for developing an e-methanol plant in Brazil. Petrobras said that e-methanol is a low-carbon substance that can be used in various industrial processes and as a fuel, especially for maritime transport. It is produced from various renewable sources

Global methanol market to reach value of $54.6 billion by 2030

Allied Market Research reported that the global methanol market is anticipated to generate $54.6 billion by 2030. The report stated that the industry was valued at $35.3 billion in 2021 and is expected to expand at a CAGR of 5.06% during the forecast period of 2022 to 2030. The report states that the Asia-Pacific region

CMES ordered world’s first methanol-powered engine for VLCC

China Merchants Energy Shipping (CMES), the Shanghai-listed shipping giant and subsidiary of China Merchants Heavy Industry (CMHI), has ordered a MAN B&W 7G80ME-LGIM (-Liquefied Gas Injection Methanol) main engine in connection with the construction of a VLCC (Very Large Crude Carrier), which stands for first order for dual fuel methanol for this type of ship.

EMF builds four methanol-ready bunker tankers

Equatorial Marine Fuel Management Services (EMF) confirmed that it will be building two additional 7,999 dwt IMO Type II Chemical and Oil Tankers that will be used as bunker tankers at the Port of Singapore. EMF earlier has placed an order for two similar newbuildings at Zhejiang Shenzhou Sunshine Heavy Industry Co., Ltd.; the first

Maersk signs green methanol deal with Goldwind

The agreement between Maersk and Chinese developer Goldwind, a global leader in clean energy, marks the first large scale green methanol offtake agreement for the global shipping industry. The deal significantly de-risks the initial stages of Maersk’s net-zero journey and supports expectations for a competitive green methanol market towards 2030, says a release from Maersk.

World’s first methanol-fuelled engine ordered for VLCC segment

China Merchants Energy Shipping (CMES), the Shanghai-listed shipping giant and daughter company of China Merchants Heavy Industry (CMHI), has ordered an MAN B&W 7G80ME-LGIM (-Liquid Gas Injection Methanol) main engine in connection with the construction of a VLCC (Very Large Crude Carrier). The first such dual-fuel methanol order for the ship type, Dalian Shipbuilding Industry

PLAGEN will develop the green methanol in Asia with BFI

PLAGEN is promoting a clean methanol production project utilizing biomass waste with Indonesia’s BFI. On the 13th, the two companies signed a business agreement to supply raw materials and invest funds for the clean methanol production project at the KORINDO Group in Jakarta, Indonesia. The ceremony was attended by PLAGEN CEO John Kyung, Vice President

Petrobras sets sights on e-methanol

Brazilian state-controlled energy giant Petrobras has signed an agreement with Maersk’s future fuel supplier, European Energy, to evaluate e-methanol business opportunities. A non-binding memorandum of understanding signed in Denmark will see the two companies work towards developing an e-methanol plant in Brazil. Petrobras said the deal fits with its 2024–28 strategic plan to ensure the

Dockendale and Green Marine pioneer methanol-driven maritime venture

Dockendale Ship Management DMC Co, based in Dubai, and Copenhagen’s Green Marine have announced a groundbreaking joint venture, Dockendale Green Marine Ship Management. This venture marks the creation of the world’s first ship management company focused exclusively on managing methanol-powered vessels, a significant step towards sustainable maritime operations. The new company will offer fully integrated

Dockendale teams up with Green Marine for methanol vessels

A shipmanagement venture has been created to focus on methanol-powered ships. Dockendale Ship Management has teamed with methanol marine specialist Green Marine to form the new Dubai company. The partnership is the result of a shared vision to advance methanol dual-fuel ships and as a result, decarbonisation of the maritime industry. Dockendale Green Marine Ship