Techno-Economic Analysis of Multi-Purpose Heavy-Lift Vessels Using Methanol as Fuel

With the global maritime industry accelerating toward carbon neutrality, the adoption of alternative marine fuels has emerged as a pivotal pathway for achieving net-zero emissions. To identify the most promising fuel transition solution for multi-purpose heavy-lift vessels (MPHLVs), which are widely used for transporting large and complex industrial equipment and have specialized structural requirements, this study conducted a comprehensive techno-economic analysis based on a fleet of 12 MPHLVs. An eight-dimensional technical adaptability framework was established, and six types of marine fuel were evaluated. Concurrently, a total cost assessment model was developed using 2024 operational data of the fleet, incorporating the fuel procurement, the carbon allowances under the EU ETS, the FuelEU Maritime compliance costs, and the IMO Net-Zero penalties. The results show that methanol as an alternative fuel is the most compatible decarbonization pathway for this specialized vessel type. A case study of a 38,000 DWT methanol-fueled MPHLV further demonstrates engineering feasibility with minimal impact on cargo capacity, and validates methanol’s potential as a technically viable and strategically transitional fuel for MPHLVs, particularly in the context of stricter international decarbonization regulations. The proposed evaluation framework and engineering application offer practical guidance for fuel selection, ship design, and retrofit planning, supporting the broader goal of accelerating low-carbon development in heavy-lift shipping sector.