In the voyage to a greener future, China’s government-owned shipping giants are zealously exploring methanol as the potential Fuels of Tomorrow. Leading this charge is none other than COSCO, the globe’s premier shipowner. In a strategic alliance with three other state-operated entities – the State Power Investment Corporation Limited, Shanghai International Port Group, and China Certification & Inspection Group, the conglomerate is working relentlessly to forge a green methanol industrial supply chain. This elaborate scheme will span multiple areas, from production and transportation to refuelling and certification of green methanol for naval vessels.
Reinventing the Wheel: COSCO’s Sustainable Shipment Plans
Notably, COSCO recently placed an impressive order for twelve methanol duel-fuel container ships, all boasting an impressive capacity of 24,000 TEU each. The establishment of this green methanol industrial chain aligns with the fresh tide of sustainable, low-carbon, and intelligent shipping. Furthermore, it demonstrates the company’s commitment to offering clients sustainable and environmentally-sensitive global supply chain logistics solutions. These developments were confirmed by the company in a recent press release.
Step-Up from the Competition: China Merchant’s Tryst with Methanol
Earlier this month, China Merchants, the second-largest shipowner in the nation, also made a bold move. The company ordered the world’s first methanol dual-fueled VLCC, freely venturing into this new frontier. China Merchants has also revealed plans to include methanol-powered car carriers and Aframaxes in its fleet. It’s evident that the company is also joining the race and investing heavily to maximise the groundbreaking potential of methanol fuel.
Fulfilling a Vision: Towards a Greener Shipping Industry
This marked shift towards methanol isn’t just symbolic; it’s a transformative change to realign the industry with the growing global demand for environmental responsibility. The methanol transition marks the beginning of a future where efficiency is not measured solely in terms of production, but with sustainability in mind, too. These developments in the largest shipping companies in the world affirm a resounding commitment—steering the shipping sector in China and around the world away from carbon spewing past and towards an eco-friendlier sail into the future.
