Hi,
No. It is possible to use tags like {order_shipping_id} to get the id of the shipping method in the subject. But the name of the shipping method is calculated dynamically and it is not available in the tags that can be used in the subject.
One option would be to have a custom "order" field. And configure a mass action to set the custom field value based on the id of the shipping method of the order with a trigger "after an order is updated", and an action "update the values" on the column of the custom field. That way, you could then use the tag of the custom field {xxx} where xxx is the column name of the custom field in the subject of the email.