Powerzeek adds methanol fuel to online marketplace

Powerzeek adds methanol fuel to online marketplace
Dag Lilletvedt, founder and CEO of Powerzeek

Online marketplace Powerzeek has added methanol fuel to its energy platform, enabling shipowners and operators to find out more about the fuel and where to buy it from at the best available price. 

The listing has been supported by the Methanol Institute and endorsed by major methanol producers on its Marine Fuels Committee.

A growing number of enquiries from shipowners wanting to know more about Methanol as an efficient, compliant marine fuel has prompted Powerzeek to list Methanol, which has been shown to contribute to a reduction in CO2 emissions on a tank to wake basis.

“The positive response to Powerzeek told us that there is unmet demand for cleaner fuels in shipping and that they need to be easier to buy to support the industry’s transition towards low carbon operations,” said Dag Lilletvedt, founder and CEO of Powerzeek. “Methanol has emerged as a fuel with a future in shipping and we are delighted to add it to the marketplace and expand the range of cleaner products we can offer to buyers.

“Methanol has emerged as a fuel with a future in shipping and we are delighted to add it to the marketplace and expand the range of cleaner products we can offer to buyers.”

In November 2020, IMO’s Maritime Safety Committee adopted interim guidelines on the use of methanol as a marine fuel, enshrining ethyl and methyl alcohols as options for marine fuel; a milestone the MI believes will be catalyst for more ship operators to consider Methanol as a low carbon compliance option.

“Methanol’s inclusion on the Powerzeek platform recognises the strong indication of building demand for methanol as a compliant bunker fuel with significant net carbon neutral credentials and regulatory acceptance,” commented Chris Chatterton, chief operating officer at The Methanol Institute. “Methanol is seen as a credible and cost effective way to not only meet, but exceed IMO GHG reduction thresholds, now and in the future.”

12 methanol-powered ships constructed to equivalent class and flag rules are already in operation with another 10 on order and inclusion in the Code should shorten the time to approval and even lower the cost of constructing tankers, bulkers and containerships using Methanol as fuel.