Trade association Methanol Institute (MI) has been granted consultative status by the International Maritime Organization (IMO) as of August 21, 2024, allowing MI to contribute its expertise to the development of shipping regulations.
Afforded to non-governmental, international organizations that demonstrate the capability to make a substantial contribution to the work of IMO, the consultative status will allow MI to attend IMO meetings as observers, participate in discussions, as well as offer input on a wide range of industry issues in plenary and working groups.
Sharing his perspective, MI Chief Executive Officer, Gregory Dolan , stated that Methanol Institute has stepped into its consultative status “at a pivotal moment when the shipping industry continues to make strides in the transition to alternative fuels”.
“We are grateful to IMO member states for recognizing the added value our organization’s expertise can bring to the table, and we are looking forward to contributing to the IMO’s important work towards achieving net zero by 2050.”
As the global maritime sector grapples with the need to reduce its carbon footprint, MI reports that it aims to use its consultative status at the IMO to work more closely with current member countries to establish “robust regulatory frameworks” for low-carbon shipping fuels, develop standards for the safe design, operation, and bunkering of methanol, and create market-based measures to support the introduction of low-carbon and renewable methanol.
On the other hand, through member collaboration, the Methanol Institute has taken strides toward the recognition of methanol as a viable marine fuel. Notably, in 2020, MI was included in the revised International Code for Gas-Fuelled Ships (IGF Code).
Since then, the trade association has been more and more active in informing policy initiatives at both regional and global levels, supporting standards for bunkering and crew training, collaborating on shipyard vessel designs, and joining other cross-industry groups in the decarbonization of the maritime supply chain.
In addition, in 2023, Methanol Institute issued the first guide to methanol as a marine fuel called ‘MARINE METHANOL Future-Proof Shipping Fuel’.
The guide addresses regulatory drivers, environmental performance, costs and pricing as well as engine and fuel systems. It also contains guidelines for handling, safety characteristics, and feedstocks for conventional and renewable products.