The satisfactory results of using methanol as a fuel in heavy machinery onshore, together with its numerous advantages in comparison with other conventional fuels in the maritime industry, such as HFO (Heavy Fuel Oil) and MDO (Marine Diesel Oil), have highlighted methanol as one of the possible alternative fuel options in this industry. Compared to other conventional fuels for ships, methanol has much cleaner combustion in a way that its emission rate of sulfur compounds is zero. Moreover, the nitrogen compounds produced by methanol during combustion are significantly lower and the amount of soot produced in the engine is at least 90% less than conventional fuels. In the present review article, the physical and chemical features of methanol to be used as fuel for ships are primarily explored. In addition, we will briefly go through the design considerations of methanol-fueled ships, and finally, we will review the practices of leading companies in the use of methanol fuel, as well as their implemented innovative measures.