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Fratelli Cosulich orders two methanol-ready chemical bunker tankers

Vessels, two 7,999 DWT IMO2 chemical bunkering tankers, ordered from Taizhou Maple Leaf Shipbuilding, are engineered to transport a variety of cargoes, such as fuel oil, biofuels, and methanol.

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Genoa-based international shipping and logistics company Fratelli Cosulich Group on Monday (8 July) said it placed an order for two advanced methanol-ready chemical bunkering tankers with Taizhou Maple Leaf Shipbuilding Co., Ltd. 

The vessels, two 7,999 DWT IMO2 chemical bunkering tankers, will be engineered to transport a variety of cargoes, such as fuel oil, biofuels, and methanol, thereby enhancing their utility and market potential. 

“This move underscores Fratelli Cosulich Group’s dedication to advancing a sustainable and efficient maritime industry, while also elevating fleet operational excellence,” the firm said in a statement. 

The order includes options for two other additional units in the future. The first of these methanol-ready vessels is set for delivery in the first half of 2026.

The company’s twin small-scale LNG bunker vessels, Alice Cosulich and Paolina Cosulich, are now fully operational, meeting the growing demand from LNG-fueled vessels. 

“In addition, we are profoundly diversifying our fleet because we believe in a multi-fuel future,” it said. 

“Vessels like Marta Cosulich, our first IMO2 chemical bunker vessel capable of delivering biofuel and methanol, and the anticipated 2025 delivery of our second IMO2 chemical bunker vessel, and the first methanol fueled, demonstrate our Group’s commitment to this vision.”

This investment marks another milestone in the Group’s commitment to a sustainable and efficient maritime industry and enhanced fleet operational excellence. Our investment in alternative fuels not only meets regulatory requirements but also exemplifies industry leadership.

Manifold Times previously reported Fratelli Cosulich Group announcing that it placed an order for its first methanol dual-fuelled chemical bunker tanker on 15 December and will operate in Singapore.

Headway Technology Group reportedly signed a cooperation agreement with Fratelli Cosulich to provide a methanol fuel supply system for the 7,990 DWT methanol dual-fuel tanker.

Related: China: Headway to provide methanol fuel supply systems to Fujian Guohang and Fratelli Cosulich
Related: Fratelli Cosulich orders its first methanol dual-fuelled bunker tanker to serve Singapore
Related: Fratelli Cosulich calls 2023 its ‘second-best year ever’ despite 42% drop in net profit
Related: Fratelli Cosulich launches methanol, biofuel bunker barge in Singapore

 

Photo credit: Scott Graham on Unsplash
Published: 9 July, 2024

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Alternative Fuels

CSA launches Singapore’s largest electric supply boat, lays keel of fully electric tug

These electric vessels are amongst the first and largest local electric harbour craft designed for operations in Singapore’s waters, says Coastal Sustainability Alliance, led by Kuok Maritime Group.

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CSA launches Singapore’s largest electric supply boat, lays keel of fully electric tug

The Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime Group (KMG), on Wednesday (5 February) marked a significant achievement with the launch of its first fully electric supply boat (e-supply boat) from shipyard to water and keel lay of its first fully electric tug at PaxOcean Batam.  

CSA said these electric vessels are amongst the first and largest local electric harbour craft designed for operations in Singapore’s waters. The e-supply boat is launched ahead of the nation’s goal for all new harbour craft to be fully electric or compatible with net-zero fuels by 2030. 

CSA launches Singapore’s largest electric supply boat, lays keel of fully electric tug

Mr Tan Thai Yong, Managing Director and CEO, PaxOcean Group and Chairperson, CSA, said: “The launch of the PXO-EXL-1 e-supply boat is a testament to our commitment to decarbonising Singapore’s coastal logistics ecosystem. This vessel demonstrates what CSA can achieve when industry players, researchers, and regulators come together to innovate and collaborate. Together with the keel lay of the PXO-ACE-1 electric tug, these milestones bring us closer to achieving a green and operationally efficient maritime sector.”

Mr Kenneth Lim, Assistant Chief Executive (Industry & Transformation), Maritime and Port Authority of Singapore (MPA), said: “Today, we witness the fruits of industry and researchers’ partnerships and collaboration in driving maritime decarbonisation, and advancing energy efficient solutions for Maritime Singapore. MPA is glad to celebrate the launch of Coastal Sustainability Alliance (CSA)’s first fully electric supply boat and the keel lay of the electric tug, and is committed to working with industry partners like CSA to achieve Singapore’s sustainability and decarbonisation goals.”

The PXO-EXL-1 Electric Supply Boat is capable of cruising at 8 knots in zero-emission operations while maintaining operational reliability. Coupled with an efficient hull design and operationally efficient marine logistics, the vessel can achieve 60% energy savings over a conventional lighter making multiple trips, providing significant costs and carbon emissions reduction for the industry.

Supported under the MPA Maritime Innovation and Technology Fund, the 50T bollard pull PXOACE-1 electric tug incorporates advanced technologies for propulsion, energy storage, and battery management systems. The product development is supported by digital twin models with research collaborators to enhance confidence in an electric tug to meet operational requirements within the Port of Singapore. The tug will be future fuel-ready for zero-carbon fuels.

The CSA will bring together international shipping agencies to explore offtaking arrangements and trial the electric supply boat in the second half of 2025, while the construction of the electric tug is slated to be completed in the first quarter of 2026. 

 

Photo credit: PaxOcean and Kuok Maritime Group
Published: 6 February, 2025

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Alternative Fuels

Hapag-Lloyd secures USD 4 billion green financing for 24 large containerships

Firm said it has obtained long-term financing for 24 new LNG dual-fuel, ammonia-ready containerships that it ordered from Yangzijiang Shipbuilding and New Times Shipbuilding in October.

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Hapag-Lloyd's "Essen Express" (13,169 TEU) heading towards the ‘Köhlbrandbrücke’

Hapag-Lloyd on Tuesday (4 February) said it has fully secured USD 4 billion long-term financing for 24 new LNG dual-fuel, ammonia-ready containerships that it ordered from two Chinese shipyards last October. 

Of these, 12 newbuildings – each with a capacity of 16,800 TEU – will be built by Yangzijiang Shipbuilding Group. These units will be used to expand the capacity of services that are already in place. 

An additional 12 ships, each with a capacity of 9,200 TEU, have been ordered from New Times Shipbuilding Company Ltd. and will replace older units in the Hapag-Lloyd fleet that will be nearing the end of their service life in this decade.

The ships will be equipped with low-emission and fuel-efficient high-pressure liquefied gas dual-fuel engines. 

In addition, these vessels can be operated using biomethane, which can reduce CO2e emissions by up to 95% compared to conventional propulsion systems. The new ships will also be ammonia ready.

Hapag-Lloyd will take delivery of the new vessels between 2027 and 2029. The newbuildings will have a combined capacity of 312,000 TEU.

The financing consists of four components. Around USD 900 million of the purchase price will be financed using the company’s own funds. A total of USD 500 million will be made available from two banks in the form of bilateral mortgage loans.

Another part, in the amount of USD 1.8 billion, will be financed via three leasing structures, and USD 1.1 billion will be financed via a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure). The financing share amounts to a total of around 80% of the investment volume, with maturities ranging between 10 and 18 years.

The financing will be carried out on the basis of Hapag-Lloyd’s Green Financing Framework, which in turn complies with the standards of the Green Loan Principles of the Loan Market Association (LMA). This has been verified by an independent expert opinion of the international classification society DNV, as has the high efficiency of the ships and their compliance with the EU Taxonomy.

“We are continuously modernizing our fleet in order to deliver a high quality of service and to achieve our ambitious decarbonization goals,” said Mark Frese, CFO/CPO of Hapag-Lloyd AG. 

“The successful conclusion of several attractive financial transactions confirms that green financing components are becoming increasingly important. In addition, we are pleased to be able to finance newbuild projects in China for the first time with the Sinosure transaction.”

 

Photo credit: Hapag-Lloyd
Published: 5 February, 2025

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Alternative Fuels

DNV: Alternative-fueled vessel orderbook continues to be dominated by LNG

While LNG and methanol markets are maturing, DNV sees that shipowners are diversifying their fuel options and exploring other bunker fuels such as ammonia, says Jason Stefanatos, Global Decarbonization Director.

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DNV: Alternative-fueled vessel orderbook continues to be dominated by LNG

Latest figures from classification society DNV’s Alternative Fuels Insight (AFI) platform saw a total of 12 new orders for alternative-fueled vessels were placed in January 2025, marking a continuation of the trend towards the fuel in the second half of 2024. 

DNV said all new orders placed came from the container segment. 

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “Although we have seen fewer orders for alternative-fueled vessels in January compared to other months, it follows a record-breaking year in 2024, and  the overall outlook continues to be encouraging.  

“The orderbook continues to be dominated by LNG, indicating a continuation of trends from the second half of last year.

“In addition, the dominance of container vessels in the orderbook indicates that demands from cargo owners and consumers for more sustainable practices remain heavily influential in driving the uptake of alternative-fueled vessels.

“While LNG and methanol markets are maturing, with increasing numbers of vessels being ordered and delivered, we also see that shipowners are diversifying their fuel options and exploring other fuels, such as ammonia.”

DNV: Alternative-fueled vessel orderbook continues to be dominated by LNG

DNV: Alternative-fueled vessel orderbook continues to be dominated by LNG

DNV: Alternative-fueled vessel orderbook continues to be dominated by LNG

DNV: Alternative-fueled vessel orderbook continues to be dominated by LNG

Photo credit: DNV
Published: 4 February, 2025

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