One of the world’s biggest shipbuilders expects orders for methanol-powered ships to surge in the coming decades, as tougher environmental regulations intensify a push to use alternative fuel sources.
The bullish forecast by Korea Shipbuilding & Offshore Engineering comes as the company accelerates away from fossil fuels and competition with Chinese rivals intensifies.
“Orders for methanol-fuelled ships will increase sharply for more than 10 years, although LNG [liquefied natural gas] burning ships will remain the mainstream for the next two decades,” chief executive Ka Sam-hyun told the Financial Times in an interview.
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