The right choice of alternative fuels? (Methanol)
About 90% of the world trade volume is transported by sea. With effects of globalisation, global shipping is forecasted to increase. The International Maritime Organisation (IMO) is now enforcing pressure to the maritime industry to decrease its carbon footprint. In line with such efforts, the ind...
| Tác giả chính: | |
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| Tác giả khác: | |
| Định dạng: | Final Year Project (FYP) |
| Ngôn ngữ: | English |
| Được phát hành: |
Nanyang Technological University
2023
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| Những chủ đề: | |
| Truy cập trực tuyến: | https://hdl.handle.net/10356/172679 |
| _version_ | 1826111498202644480 |
|---|---|
| author | Muhammad Khairul Afiq Bin Juma'at |
| author2 | Chiu Sai Hoi, Benson |
| author_facet | Chiu Sai Hoi, Benson Muhammad Khairul Afiq Bin Juma'at |
| author_sort | Muhammad Khairul Afiq Bin Juma'at |
| collection | NTU |
| description | About 90% of the world trade volume is transported by sea. With effects of globalisation, global shipping
is forecasted to increase. The International Maritime Organisation (IMO) is now enforcing pressure to the
maritime industry to decrease its carbon footprint. In line with such efforts, the industry is currently looking
into various alternatives of greener fuels to combat carbon emissions. This paper explores the considerations
that ship owners take into selecting their specific type of alternative fuel and will focus on methanol while
my teammates would be exploring ammonia and biofuel. This paper specifically explores the environmental
and economic aspects that ship owners go through when considering the type of alternative fuel moving
forward. In addition, this paper serves as a platform for research participants to discuss the feasibility of
methanol as an alternative fuel compared to other alternative choices, specifically ammonia and biofuel.
To understand the considerations that shipping companies consider, primary and secondary data were
collected to ensure consistent and reliable findings. Primary research was conducted using a questionnaire
while secondary research in the form of interviews were performed to provide a thorough understanding of
the issues.
Upon analysis, the key challenges in methanol were pointed out to be the availability and scalability of
methanol. There were some disagreements such as methanol being inherently carbon, but if carbon capture
was available, it can still be considered a net zero carbon. Relating to availability and scalability, as time
moves forward, supply will ramp up and the prices of methanol will also be more affordable. Overall, there
is a general optimism towards methanol as an alternative fuel.
Next, the paper recommended expediting bunkering facilities at specific ports where bunkering is most
likely needed such as Singapore, Fujairah, and Rotterdam to kickstart the move towards methanol.
Investments on carbon-capturing technology and methanol processing facilities will allow more
favourability towards methanol as it solves issues such as carbon emissions and scalability. Having more
regulations to hasten the move towards greener shipping will also improve favourability towards methanol.
To conclude the paper, firstly, the main driving force to push stakeholders are the regulations. Secondly,
the main challenge right now of all the alternative fuel is scalability. Thirdly, methanol will be one of the
most widely used alternative fuel in the future due to all its advantages. Lastly, there will not be one ‘right’
fuel and that there will be a few different alternative fuels used in the future. |
| first_indexed | 2024-10-01T02:51:42Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/172679 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T02:51:42Z |
| publishDate | 2023 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1726792023-12-22T15:34:12Z The right choice of alternative fuels? (Methanol) Muhammad Khairul Afiq Bin Juma'at Chiu Sai Hoi, Benson School of Civil and Environmental Engineering BensonChiu@ntu.edu.sg Engineering::Maritime studies About 90% of the world trade volume is transported by sea. With effects of globalisation, global shipping is forecasted to increase. The International Maritime Organisation (IMO) is now enforcing pressure to the maritime industry to decrease its carbon footprint. In line with such efforts, the industry is currently looking into various alternatives of greener fuels to combat carbon emissions. This paper explores the considerations that ship owners take into selecting their specific type of alternative fuel and will focus on methanol while my teammates would be exploring ammonia and biofuel. This paper specifically explores the environmental and economic aspects that ship owners go through when considering the type of alternative fuel moving forward. In addition, this paper serves as a platform for research participants to discuss the feasibility of methanol as an alternative fuel compared to other alternative choices, specifically ammonia and biofuel. To understand the considerations that shipping companies consider, primary and secondary data were collected to ensure consistent and reliable findings. Primary research was conducted using a questionnaire while secondary research in the form of interviews were performed to provide a thorough understanding of the issues. Upon analysis, the key challenges in methanol were pointed out to be the availability and scalability of methanol. There were some disagreements such as methanol being inherently carbon, but if carbon capture was available, it can still be considered a net zero carbon. Relating to availability and scalability, as time moves forward, supply will ramp up and the prices of methanol will also be more affordable. Overall, there is a general optimism towards methanol as an alternative fuel. Next, the paper recommended expediting bunkering facilities at specific ports where bunkering is most likely needed such as Singapore, Fujairah, and Rotterdam to kickstart the move towards methanol. Investments on carbon-capturing technology and methanol processing facilities will allow more favourability towards methanol as it solves issues such as carbon emissions and scalability. Having more regulations to hasten the move towards greener shipping will also improve favourability towards methanol. To conclude the paper, firstly, the main driving force to push stakeholders are the regulations. Secondly, the main challenge right now of all the alternative fuel is scalability. Thirdly, methanol will be one of the most widely used alternative fuel in the future due to all its advantages. Lastly, there will not be one ‘right’ fuel and that there will be a few different alternative fuels used in the future. Bachelor of Science (Maritime Studies) 2023-12-18T05:24:45Z 2023-12-18T05:24:45Z 2023 Final Year Project (FYP) Muhammad Khairul Afiq Bin Juma'at (2023). The right choice of alternative fuels? (Methanol). Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/172679 https://hdl.handle.net/10356/172679 en CV4911 application/pdf Nanyang Technological University |
| spellingShingle | Engineering::Maritime studies Muhammad Khairul Afiq Bin Juma'at The right choice of alternative fuels? (Methanol) |
| title | The right choice of alternative fuels? (Methanol) |
| title_full | The right choice of alternative fuels? (Methanol) |
| title_fullStr | The right choice of alternative fuels? (Methanol) |
| title_full_unstemmed | The right choice of alternative fuels? (Methanol) |
| title_short | The right choice of alternative fuels? (Methanol) |
| title_sort | right choice of alternative fuels methanol |
| topic | Engineering::Maritime studies |
| url | https://hdl.handle.net/10356/172679 |
| work_keys_str_mv | AT muhammadkhairulafiqbinjumaat therightchoiceofalternativefuelsmethanol AT muhammadkhairulafiqbinjumaat rightchoiceofalternativefuelsmethanol |