News / Methanol 'happy hour' over, and decarbonisation will double freight rates

Shipping’s methanol “happy hour” has ended, with LNG back on the menu, decarbonisation “slowing” and freight rates set to double permanently, claimed classification giant DNV Maritime this week.

At the unveiling of the eighth edition of DNV’s Maritime Forecast yesterday, CEO Knut Ørbeck-Nilssen said shipping decarbonisation was slowing and 93% of the global fleet was still running on conventional fossil fuels.

“…if you look to what it costs these days to either build a new vessel with new fuel capabilities, or indeed ...