Assessment of methanol retrofit potential for bulk carriers

Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (MMMCZCS) has assessed the feasibility of retrofitting bulk carriers for methanol dual-fuel operation as part of efforts to meet IMO decarbonisation targets.
The study focused on an 82,000-dwt vessel to evaluate technical and economic considerations: the segment was chosen based on the fact that the orderbook for vessels of this type are almost all designed to operate on heavy fuel oil (HFO).
The Center said retrofitting existing ships will play a key role alongside newbuildings in achieving net-zero greenhouse gas emissions by 2050. It found that methanol retrofits are technically feasible for bulk carriers in this size range, although options available so far remain limited. No critical safety risks were identified in the concept design.
The analysis highlighted that undertaking as much retrofit work as possible offline can reduce off-hire, while conversion may affect deadweight and cargo capacity, thanks to the lower power-density of methanol fuel.
The business case depends largely on the supply and price of sustainable methanol, as conventional ‘grey’ methanol confers no well-to-wake fuel saving, and in some cases, may emit more carbon than HFO.
Medium-sized bulk carriers, including Kamsarmax vessels, represent a significant share of the global fleet and dry bulk emissions. According to the study, bulk carriers account for 14% of the merchant fleet, with this segment contributing materially to greenhouse gas output.
MMMCZCS said the findings underline the importance of retrofit pathways as the industry addresses emissions from conventionally-fuelled vessels.