The right choice of alternative fuels? (Methanol)

• Main Author: Muhammad Khairul Afiq Bin Juma'at
• Other Authors: Chiu Sai Hoi, Benson
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Maritime studies
• Online Access: https://hdl.handle.net/10356/172679
• Institution: Nanyang Technological University

About 90% of the world trade volume is transported by sea. With effects of globalisation, global shipping is forecasted to increase. The International Maritime Organisation (IMO) is now enforcing pressure to the maritime industry to decrease its carbon footprint. In line with such efforts, the industry is currently looking into various alternatives of greener fuels to combat carbon emissions. This paper explores the considerations that ship owners take into selecting their specific type of alternative fuel and will focus on methanol while my teammates would be exploring ammonia and biofuel. This paper specifically explores the environmental and economic aspects that ship owners go through when considering the type of alternative fuel moving forward. In addition, this paper serves as a platform for research participants to discuss the feasibility of methanol as an alternative fuel compared to other alternative choices, specifically ammonia and biofuel. To understand the considerations that shipping companies consider, primary and secondary data were collected to ensure consistent and reliable findings. Primary research was conducted using a questionnaire while secondary research in the form of interviews were performed to provide a thorough understanding of the issues. Upon analysis, the key challenges in methanol were pointed out to be the availability and scalability of methanol. There were some disagreements such as methanol being inherently carbon, but if carbon capture was available, it can still be considered a net zero carbon. Relating to availability and scalability, as time moves forward, supply will ramp up and the prices of methanol will also be more affordable. Overall, there is a general optimism towards methanol as an alternative fuel. Next, the paper recommended expediting bunkering facilities at specific ports where bunkering is most likely needed such as Singapore, Fujairah, and Rotterdam to kickstart the move towards methanol. Investments on carbon-capturing technology and methanol processing facilities will allow more favourability towards methanol as it solves issues such as carbon emissions and scalability. Having more regulations to hasten the move towards greener shipping will also improve favourability towards methanol. To conclude the paper, firstly, the main driving force to push stakeholders are the regulations. Secondly, the main challenge right now of all the alternative fuel is scalability. Thirdly, methanol will be one of the most widely used alternative fuel in the future due to all its advantages. Lastly, there will not be one ‘right’ fuel and that there will be a few different alternative fuels used in the future.