Green Marine and Stamford Ship Management have formed a joint venture in Singapore with a mission to build and manage, both commercially and technically, methanol dual-fuel propulsion vessels across multiple market segments.
According to the companies, the development of methanol propulsion engines provides an excellent opportunity to invest in commercially viable sustainable shipping. Teo Eng Dih, Chief Executive, Maritime and Port Authority of Singapore, also pointed out that there is potential for low-emission methanol to play a role, especially when it is produced from biogenic or renewable sources.
"Stamford’s commercial and fund management expertise combined with Green Marine’s unparalleled methanol knowledge will put us in a unique position to develop methanol powered shipping projects beneficial to all stakeholders", said Oliver van der Wyck, Founder, Stamford Shipping
Meanwhile, Chris Chatterton, Chief Commercial Officer, The Methanol Institute, stated that this joint venture recognises that methanol has achieved a high level of market acceptance among shipowners and operators who can draw on technical and operational expertise to support their investments in sustainable shipping.
"We have identified Singapore as the ideal location for anchoring our methanol ship owning and ship management platform. Together with Stamford, we are already developing several newbuilding projects and we are excited as Green Marine further diversifies across the marine methanol spectrum", said Morten Jacobsen, Founder, Green Marine
To remind, Green Marine recently joined the Methanol Institute with the aim of providing training for crews onboard dual-fuelled vessels.
Source: Safety4sea
