Costa Group and Proman ink green methanol offtake agreement
According to the joint statement, the collaboration is intended to "accelerate the energy transition and decarbonisation of the existing fleet by enhancing the supply of sustainable methanol.”
PHOTO: Costa Group's cruise ship Costa Toscana. Costa Group
There are two types of renewable or sustainable methanol: bio-methanol and e-methanol. Bio-methanol is produced from sustainable biomass, which can be derived from agricultural waste, plant waste, food waste or manure. It requires less to no fossil fuel, but carbon dioxide and carbon monoxide are naturally contained in these waste streams and can ideally be considered carbon-neutral.
E-methanol, or synthetic methanol, is produced from carbon dioxide (CO2) captured from renewable sources like bioenergy with carbon capture and storage (BECCS) or direct air capture (DAC). This is then reacted with hydrogen using a catalyst. Both types of methanol can be carbon-neutral and have almost zero emissions of nitrous and sulphur oxides and particulates.
“The technology to retrofit a vessel to accept methanol as a fuel is available today. Our methanol products can facilitate the transition to low carbon intensity fuels,” said Tim Cornelius, methanol producer Proman’s managing director of corporate development.
He added that “methanol-powered vessels have a proven track record of reducing and eliminating major greenhouse gas (GHG) emissions, delivering immediate air quality improvements around major ports and shipping lanes.”
Using methanol as a propulsion fuel will help Costa reach its goal of a GHG-neutral fleet by 2050, according to Christoph Schladoer, vice president decarbonization Costa Group.
Costa Group, which operates Costa Cruises and AIDA Cruises is an Italian subsidiary of cruise major Carnival Cruise Line.
Earlier this week, South Korean shipping major Hyundai Merchant Marine (HMM) also signed offtake agreements with five methanol suppliers, including Proman, to fuel its upcoming fleet of nine methanol-fuelled vessels.
By Konica Bhatt
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