SCI, Wärtsilä to explore converting vessels to run on green methanol
SCI, Wärtsilä to explore converting vessels to run on green methanol - Offshore Energy
SCI, Wärtsilä to explore converting vessels to run on green methanol
Finnish technology group Wärtsilä and Shipping Corporation of India (SCI) have signed a Memorandum of Understanding (MoU) to explore options for converting at least two SCI’s vessels to be capable of operating on green methanol.
Under the MoU, Wärtsilä will carry out a feasibility study, and deliver a proposal for the conversion of these vessels to operate on green methanol. The strategic partnership will play an important role in SCI’s strategy to reduce GHG emissions from its operations.
“At Wärtsilä, we are committed to delivering environmentally sustainable technologies that will accelerate the transition to carbon-free shipping. We are honoured to be supporting SCI with their decarbonisation journey through this strategic partnership,” Wärtsilä’s officials commented.
SCI’s fleet comprises thirteen crude oil tankers, thirteen product tankers, five VLCCs, and one gas tanker, according to the company’s website. Furthermore, the firm owns fifteen bulk carriers and two liners.
In a separate statement, Wärtsilä won a contract to supply cargo handling systems for five new very large LPG carrier vessels to be built at the Hyundai Heavy Industries (HHI) yard in South Korea.
The ships have been contracted by Norwegian ship owner Solvang in a joint venture with Gunvor Group in Geneva. The VLGCs are of Panamax size and form the next generation of eco-vessels.
The vessels will have a cargo-carrying capacity of 88,000 cbm. The Wärtsilä equipment is scheduled for delivery to the yard commencing in early 2025, and the first ship is expected to commence operations towards the end of 2026.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”