Pacific Carriers Limited(PCL) and PaxOcean Holdings Pte Ltd(PaxOcean) are collaborating with ABS on their decarbonization journey.
The first step is a recently signed joint development project(JDP) to study methanol as an alternative fuel for the PCL fleet. Under the JDP, ABS will evaluate the means and impact of retrofitting a PCL vessel with a propulsion system powered by methanol as an alternative low-carbon fuel option.
“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. 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,” said John McDonald, ABS Executive Vice President and COO.
Hor Weng Yew, MD and CEO of PCL said, “This partnership with ABS and PaxOcean is part of PCL's commitment to achieve carbon neutrality by 2050 or earlier. 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.”
Tan Thai Yong, MD & CEO of PaxOcean said, “Our collaboration with PCL and ABS brings together collective expertise that allows us to work alongside to accelerate the potential use of methanol as a future alternative fuel for ships which will significantly reduce Singapore’s carbon footprint.”