What is the story about?
What's Happening?
ClassNK has granted approval in principle for a methanol fuel tank design concept developed by SRC Group. This design utilizes Sandwich Plate System (SPS) technology to nearly double the storage capacity for methanol and ethanol on ships. The approval signifies the design's feasibility from regulatory and safety perspectives. Methanol is increasingly adopted as an alternative fuel in the maritime industry, necessitating efficient storage solutions. The SPS technology features a solid elastomer core sandwiched between steel plates, offering 85% more storage capacity than conventional tanks. ClassNK presented the concept to the Panama Maritime Authority, receiving acknowledgment prior to approval.
Why It's Important?
The approval of SRC Group's methanol superstorage tank is significant for the maritime industry, which is shifting towards alternative fuels like methanol and ethanol. These fuels require larger storage volumes due to their lower energy density compared to traditional heavy fuel oil. The new tank design addresses this challenge, potentially influencing ship design and range. As the industry moves towards greener solutions, efficient fuel storage becomes crucial for operational viability and environmental compliance. This development could lead to broader adoption of methanol-ready ships, impacting shipbuilders, operators, and regulatory bodies.
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