“Due to its potential to reduce the CO2 footprint of marine operations, applications of methanol are drawing a wider interest from owners of oceangoing vessels, short sea shippers, ferries, cruises, and inland waterway vessels,” said Georgios Plevrakis, ABS Director, Global Sustainability.

"While methanol’s uptake and application as a marine fuel is only beginning, ABS is committed to ensuring owners, operators, shipbuilders and original equipment manufacturers are fully informed about its potential as they develop their decarbonization strategies," he added.

The International Maritime Organization's (IMO) Maritime Safety Committee adopted interim recommendations on the use of methanol as a marine fuel in November 2020, allowing shipowners and operators to use ethyl and methyl alcohols instead. Twelve methanol-powered ships are currently in service, with ten more on the way.

“Methanol is a fuel that offers immediate decarbonization benefits to vessel operators of substantial net GHG reductions and full compliance with IMO2020, with a pathway that leads to net carbon neutrality as production of renewable Methanol grows," said Gregory Dolan, Chief Executive Officer, the Methanol Institute.

To learn more, download the Sustainability Whitepaper: Methanol as Marine Fuel here.