New joint venture to focus on methanol-powered ships

This joint initiative is dedicated to providing comprehensive crewing and technical management services for ships powered by methanol. The agreement entails the establishment of a new entity, Dockendale Green Marine Ship Management, strategically headquartered in Dubai. In addition, key leadership appointments have been made and include CEO Vikrant Gusain, COO Morten Jacobsen, CTO Fredrik Stubner, and CFO Michael Herb.

This announcement follows Green Marine’s earlier collaboration with Stamford Ship Management, where they jointly ventured to construct and oversee the commercial and technical aspects of methanol dual-fuel propulsion vessels in Singapore

Vikrant Gusain, chief executive, commented: “Our partnership with Green Marine is the result of a shared vision to advance methanol dual-fuel ships and as a result, decarbonisation of the maritime industry. Green shipping is moving at an incredibly rapid pace, and we felt it was an opportune time to bolster our ship management service offerings and demonstrate our commitment to building a more sustainable future for shipping.”

Morten Jacobsen, COO, added

Green Marine’s team of methanol experts have been involved with the evolution of methanol as a marine fuel since 2012 in addition to having co-developed the design and overseen the construction of 16 methanol-powered MR tankers to date.

Methanol has been gaining attention as a potential marine fuel, and developments have likely continued since then. It is considered a cleaner-burning fuel compared to traditional marine fuels, and it has the potential to contribute to reducing greenhouse gas emissions in the maritime sector. Several partnerships and collaborations are currently taking place, which indicate a growing interest and commitment from industry players to explore methanol as a viable marine fuel.