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Home > All news > Report & Analysis > 14 methanol-powered ships ordered in October : Report

14 methanol-powered ships ordered in October : Report

November 7, 2023
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HAMBURG : A total of 14 orders for methanol-powered ships were recorded in October as demand for alternative fuels in the maritime industry continues to rise in line with the ever-stringent regulatory landscape, data from DNV’s Alternative Fuel Insights (AFI) database shows.

Some of the most recent orders saw Norwegian shipping and logistic company Wallenius Wilhelmsen signing a contract with China Merchants Jinling Shipyard Co. for the construction of four methanol dual-fuel pure car and truck carriers (PCTCs) and up to eight optional units.

Monaco-based dry bulk shipping company Safe Bulkers entered into contracts for the acquisition of two dual-fuel newbuild Kamsarmax class dry-bulk vessels as part of its fleet renewal strategy.

The first vessel is scheduled for delivery in the fourth quarter of 2026 and the second vessel is due to be delivered in the first quarter of 2027.

J.P. Morgan Global Alternative’s Global Transportation Group (JPMGTG) has confirmed a deal for the construction of two dual-fuel methanol chemical IMOII medium-range (MR) newbuilds.

Boasting a 49,800 deadweight capacity, the ships will be built at Guangzhou Shipyard International (GSI) in China. Both vessels are scheduled to be delivered in 2026 and will be fixed on time-charter to TotalEnergies.

Earlier this month, JP Morgan continued its ordering with GSI with a further two MR tankers through its subsidiary Oceonix Services. The vessels will be dual-fueled with methanol. They are slated for delivery in 2026 and will cost $50m each, data from Intermodal shows.

Meanwhile, Europe’s shipping investor Hayfin has placed an order for up to four ‘enhanced methanol ready’ Suezmax tankers at South Korean shipbuilder Hyundai Heavy Industries (HHI).

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