Slew of Sops to help fuel ships' shift to methanol

New Delhi - The Indian government is considering methanol as the primary fuel for ships in its green transition plan. Officials believe that tax benefits and relaxed compliance could encourage the shift. Various proposals are under consideration, including uniform port charges and quicker turnaround for ships using Indian methanol refuelling facilities.

Additionally, consistent methanol pricing at Indian ports, infrastructure development, and eased regulations for setting up these facilities are also being examined. India currently imports fossil fuels, but methanol can be produced domestically from sources like agricultural residue. Regular ship calls from international container lines could create a market for methanol, attracting suppliers to invest in production, storage, and bunkering. Efforts are underway to build the necessary infrastructure for methanol-based shipping.