It’s not been a great month for methanol in the future fuel race. To give it an Olympics flavour, the favourite has stumbled over a hurdle or two. Danish utility Ørsted abandoned its pioneering e-methanol project under construction in northern Sweden, blaming poor market growth and difficulty in securing long-term off-take contracts. Ørsted assumed full ownership and took a final investment decision on the project called FlagshipONE in late 2022 – originally developed by Liquid Wind and touted at the time as the largest FID’ed green e-methanol project in Europe. It was the company’s first commercial-scale Power-to-X facility described as an important stepping stone towards Ørsted’s ambition of establishing itself as a top player in green fuels for shipping. Methanol has become the most popular alternative fuel in the global newbuild orderbook alongside LNG, but its high cost has kept operators from signing up for the fuel in the long term. One of methanol’s greatest champions, Maersk, also caused many to have pause for thought this month. At its interims, the Danish carrier outlined its newbuild policy through to 2030, with the company admitting that it will proceed with orders for dual-fuel ships which can use bio-LNG, a fuel type the carrier had previously dismissed. “While green methanol is likely to become the most competitive and scalable pathway to decarbonization in the short term, Maersk also foresees a multifuel future for the industry which includes liquified bio-methane,” the company stated in a release. I have in the past stated that I see methanol as the obvious alternate fuel for the 2020s. The past few weeks have given LNG proponents hope that this assertion is incorrect. Contents Front page: Boxship ordering rushEditor’s Comment: Methanol stumblesAugust 2024 ReviewMarkets TankersMarkets Dry BulkMarkets ContainersAnalyst AbstractMonthly BrokerFeature: Offshore wind hurdlesInterview: Ilari LeinonenDataOpinion: Are marine accidents on the rise? TagsSplash Extra Archive Splash Extra August 2024