Methanol Gains Momentum as Marine Fuel, But Cost and Supply Challenges Persist
The International Maritime Organization (IMO) agreed to adjourn the extraordinary session of the Marine Environment Protection Committee (MEPC), which was convened from 14 to 17 October 2025 to consider the adoption of draft amendments to MARPOL Annex VI, including the IMO Net-Zero Framework. The extraordinary session will be reconvened in 12 months’ time. In the interim, Member States will continue to work towards consensus on the IMO Net Zero Framework.
Without the pressure of agreement of the IMO Net-Zero Framework shipping is looking internally at what choices to make in response to the need for decarbonisation. Adoption of less polluting fuels is on the agenda but requires investment. The decision to build a new vessel represents a long-term investment, and its propulsion is a significant element of long-term running costs.
Methanol has seen a rush of orders in the last few years, with a peak in 2024. Will this continue, and what is the state of the market now?
This excellent article in GCaptain, based in part on recent DNV comments, is a good summary of the situation:
Many thanks