Having recently signed a joint development project (JDP) agreement, Pacific Carriers Limited (PCL) and PaxOcean Holdings (PaxOcean) will collaborate with ABS to decarbonize their respective operations.
The JDP will begin with methanol being studied as an alternative fuel for the PCL fleet of vessels. ABS will be responsible for evaluating a method for retrofitting a methanol-powered propulsion system on board PCL vessels to enable the use of the low-carbon fuel.
“PCL and PaxOcean are forward-looking companies, and as a leader in maritime decarbonization, ABS is proud to be able to use our deep insight to support their sustainability journeys,” explained John McDonald, executive vice president and COO, ABS. “Methanol represents a promising fuel, with practical benefits related to ease of storage and handling, tank-to-wake carbon intensity reduction, as well as a pathway to carbon neutrality through green methanol.”
“This partnership with ABS and PaxOcean is part of PCL’s commitment to achieve carbon neutrality by 2050 or earlier,” said Hor Weng Yew, MD and CEO, PCL. “With methanol gaining maturity as a marine fuel, we believe it has great potential to significantly reduce our carbon footprint in the short to mid-term. This study will serve to identify the options we have to adapt our existing ships to handle methanol effectively and safely.”
“Our collaboration with PCL and ABS brings together collective expertise that allows us to work [together] to accelerate the potential use of methanol as a future alternative fuel for ships which will significantly reduce Singapore’s carbon footprint,” commented Tan Thai Yong, MD and CEO of PaxOcean.