Ministry of Ports Considers Methanol as Green Fuel for EXIM Vessels

The Ministry of Ports, Shipping and Waterways (MoPSW) is actively considering methanol as one of the key green fuels for EXIM vessels globally. This decision comes after Maersk deployed methanol-powered ships, highlighting its low emission qualities. Discussions are ongoing with potential players for facilities like bunkering to support the use of methanol in the maritime sector. The ministry is also exploring mechanisms for the indigenous development of methanol marine engines in the country as part of the green transition of inland vessels.

A two-day conference organized by MoPSW, Cochin Shipyard Limited (CSL), and Inland Waterways Authority of India (IWAI) in Kochi focused on challenges and prospective solutions in inland waterways and shipbuilding. The session addressed pressing financing needs in India’s shipping sector, noting a significant investment requirement of approximately Rs 70-75 lakh crore as outlined in the Maritime Amrit Kaal Vision 2047. The ministry is working on establishing a dedicated Maritime Development Fund to address funding requirements for initiatives like shipbuilding, decarbonization, green energy adoption, technology innovation, and manpower training and development.

The conference highlighted the nation’s heavy reliance on foreign fleets for cargo movement, leading to significant foreign exchange expenditure. Discussions emphasized the importance of developing indigenous capabilities in the maritime sector to reduce this reliance and increase self-sufficiency. The ministry’s efforts aim to support the implementation of specific initiatives that will contribute to the overall growth and sustainability of the maritime industry in India.

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