Six companies forming strategic alliance to develop Japan’s first Methanol-fueled Domestic Tanker
~ Selected for METI and MLIT Subsidy for ‘Project on Transport Efficiency improvement Utilizing AI/IoT (Demonstration Project on Domestic Ship Innovative Operation Efficiency)~
Mitsui O.S.K. Lines, Ltd., MOL Coastal Shipping, Ltd., Tabuchi Kaiun Co., Ltd., Niihama Kaiun Co., Ltd., Murakami Hide Shipbuilding Co., Ltd., and The Hanshin Diesel Works, Ltd. have agreed to form strategic alliance aimed at reducing environmental impact through the development of methanol-fueled Domestic tanker.
The vessel development project, which targets delivery of the ship in 2024, was also selected to receive public funding through the Japanese Ministry of Economy, Trade and Industry (METI) and Ministry of Land, Infrastructure, Transport and Tourism (MLIT), “Subsidy for ‘Project on Transport Efficiency improvement Utilizing using AI/IoT (Demonstration Project on Domestic Ship Innovative Operation Efficiency)” (Note 1).
Methanol can reduce emissions of sulfur oxide (SOx) by up to 99%, particulate matter (PM) by up to using conventional fuel oil, which is currently the main fuel for marine vessels. Methanol has outstanding properties for use as a fuel, as it is liquid at normal temperatures and normal air pressure. Methanol fuel has been more widely introduced on ocean-going vessels as an environmentally friendly fuel, including four MOL Group-operated ships, but this will be the first methanol-fueled Domestic ship.
In addition, methanol can be produced with CO2 and hydrogen as raw material, so in the future, it can be produced by utilizing the CO2 capture and transport business to synthesize hydrogen, which uses electricity derived from renewable resources such as offshore wind power and wave power. If this methanol can be used as fuel, it can establish an environmental circulation type business model, enabling a reduction in net CO2 emissions.
The six alliance partners will each orchestrate their advantages in technology, expertise, and networks (Note 2) aiming to realize a decarbonized society.
Related News.
Navigating the Multi-Orbit Era: In Conversation with Intellian’s Jon Harrison at SMM 2026
At SMM 2026 in Hamburg, the rapid evolution of maritime satellite communications took centre stage. Across the exhibition halls, discussions among…
Cyprus ports need joint energy and investment strategy, shipping agents chief says
Cyprus needs a coordinated strategy for shipping, energy and environmental protection to support port investment and modernisation, Cyprus shipping…
MASO Public Affairs introduces MASO Regulatory Intelligence
A new subscription service helping businesses understand what is changing and what it means for them MASO Public Affairs introduces MASO Regulatory…
Anglo-Eastern helps turn CMBTECH’s ammonia ambition into an operational reality
From early feasibility study and risk-based design to newbuilding supervision, crew readiness and technical management, Anglo-Eastern drew on its…
Escalation of attacks threatens to derail recovery in Middle East oil exports
World oil demand is forecast to fall by 2.5 mb/d y-o-y in 4Q26 and 2.6 mb/d on average in 2026. As the Iran war manifests itself through restricted…
New study finds shipping pays twice its share to EU ETS earmarked revenues should triple to help build market for sustainable fuels and technologies
Shipping is responsible for around 10% of EU ETS emissions but pays almost 20% of the ETS bill. Unlike other sectors, it has never received free…
MSARC strengthens maritime mass rescue readiness through training and national live exercise off Dakar, Senegal
Joint MSARC–FHAS programme combines three days of SAR training with a national multi-agency live exercise The Maritime Search and Rescue Council ,…
Sogese report deliveries are still being delayed as container freight rates fluctuate
FOR IMPORTERS Spot rates into the Mediterranean are back at January levels, Far East to Europe reliability sits at pandemic lows, and nearly…
Glencore begins trading on Australian Securities Exchange
Glencore has begun trading on the Australian Securities Exchange under the ASX code GLC. Gary Nagle, Glencore’s CEO, said it was an exciting day for…
BIMCO Shipping Number of the Week
Suez Canal container ship transits exceed 50% of pre-disruption levels "During the first two weeks of October, weekly container ship capacity…
Subscribe to our newsletter!
if you dont want to swim alone in the ocean of news, sign up for the newsletter, and you will receive daily all the important news of world shipping!
