Green Maritime Methanol: Business Case Analysis
de Jonge, V.
Increasing pressure on shipping to contribute to reduce Greenhouse Gas emissions is changing the landscape for marine fuels. In this Green Maritime Methanol project, the feasibility of application of methanol for the maritime sector are being elaborated, with a focus on short sea shipping. As part of this project, this report compares the Total Costs of Ownership (TCO) of a switch to methanol as an energy carrier for shipping compared to a reference situation (diesel, MGO or HFO) for six different vessel types. A switch to methanol as an energy carrier has effect on both the capital expenditures (CAPEX) and operational expenditures (OPEX). Capital expenditures include the costs of adjusting the powertrain of the vessel (with either newbuilt or retrofitting engines), the costs of the fuelling system and of additional safety measures. The CAPEX calculations have been taken from the six detailed ship design studies performed in WP5 of this project. For the OPEX, the fuel cost forecasts developed in WP4 of this project have been used. The analysis shows that there is a significant uncertainty in the development of the methanol price levels for different feedstocks. Therefore, a significant bandwidth was used in this TCO.
To reference this document use:
Maritime & Offshore
TNO 2020 R12324
TNO, Den Haag