MSC adds more ULCVs to orderbook that equates with world's sixth-largest carrier
Undeterred by the threat of additional overcapacity, MSC has ordered a further ten 24,000 teu ...
FDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICALFDX: LTL OUTLOOKGXO: NEW LOW LINE: NEW LOW FDX: INDUSTRIAL WOESFDX: HEALTH CHECKFDX: TRADING UPDATEWMT: GREEN WOESFDX: FREIGHT BREAK-UPFDX: WAITING FOR THE SPINHON: BREAK-UP ALLUREDSV: BREACHING SUPPORTVW: BOLT-ON DEALAMZN: TOP PICK
FDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICALFDX: LTL OUTLOOKGXO: NEW LOW LINE: NEW LOW FDX: INDUSTRIAL WOESFDX: HEALTH CHECKFDX: TRADING UPDATEWMT: GREEN WOESFDX: FREIGHT BREAK-UPFDX: WAITING FOR THE SPINHON: BREAK-UP ALLUREDSV: BREACHING SUPPORTVW: BOLT-ON DEALAMZN: TOP PICK
Ocean Network Express (ONE) has taken over the methanol mantle with an order for 10 boxships – while Maersk Line u-turns on the new fuel in favour of LNG.
ONE’s latest order for 10 more 13,000 teu methanol-fuelled vessels at China’s Jiagnan and Yangzijiang shipyards supplements an order for 12 made in January.
“Our decision to invest in methanol-dual fuel vessels aligns with ONE’s Green Strategy as part of our key initiatives,” said CEO Jeremy Nixon, at the time.
“The new fleet is pivotal in achieving our goal of deploying the first alternative-fuel ships by 2030, and marks a significant milestone in our journey towards a greener and more sustainable maritime industry.”
Meanwhile, despite taking a hostile stance toward LNG in recent years, on the back of a series of methanol-ship orders, Maersk appears to have made a u-turn with an order for 12 16,000 teu LNG-powered vessels, and is seeking more LNG vessels to charter.
This is an alarming change in tack for Maersk; late last year, a spokesperson told The Loadstar LNG “…is not a fuel of the future for our fleet”, and that the shipping line would “invest in technologies and innovation that can develop new green alternatives to fossil fuel”.
LNG advocates point to a 20% reduction in tank-to-wake CO2 emissions, compared with conventional heavy oil and diesel ship fuels. However, LNG has come in for major criticism in recent years. Ships powered by LNG, and the bunkering infrastructure required to fuel them, leak methane into the atmosphere, a gas which is considerably worse than CO2 in terms of its global warming effect.
But there are reasons to favour bio-LNG from an environmental perspective. Methanol’s critics point out that it is currently generated using steam reforming from fossil fuels.
“If you go with the ‘grey’ versions [of ammonia and methanol], you increase emissions,” pointed out naval architect Oskar Levander recently in conversation with The Loadstar. “So you really need to go either bio or renewable.”
Like biofuels, green methanol production is limited by the availability of bio-based feedstock. Once biogenic CO2 sources are fully exploited, green methanol supply cannot grow.
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Another problem with green methanol is that it would require ‘Power-to-X’ technology – using electricity to generate sufficient hydrogen feedstock. Given the inefficiency of Power-to-X processes, this ties new wind turbines, solar panels and hydroelectric dams into a process which could see as much as 90% of their energy wasted, instead of providing 100% of their power for homes and businesses.
This stands in contrast to producing bio-methane, which is already happening in many countries from the bacterial breakdown of food or municipal waste in a digester.
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