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Methanol-fuelled newbuilds ordered at Hyundai Mipo

15 Feb 2018

A total of four methanol-fuelled newbuildings have been ordered by Waterfront Shipping Company (WFS), Marinvest/Skagerack Invest (Marinvest), IINO Kaiun Kaisha (IINO), Mitsui & Co (Mitsui), and the NYK Group (NYK) on Wednesday.

The four 49,000 dead weighttonne vessels will be delivered in 2019 and built with MAN B&W ME-LGI two-stroke dual-fuel engines that can run on methanol, fuel oil, marine diesel oil or gas oil.

The four new vessels will be built in Korea at Hyundai Mipo Dockyard, where several of the first generation of methanol-fuelled vessels were built; they will join the existing seven methanol-fuelled ships chartered by WFS since 2016.

WFS will charter the four vessels to replace older vessels; two of the vessels will be owned in a joint venture between WFS and Marinvest, one will be owned by NYK and the fourth will be owned in a joint venture between IINO and Mitsui.

"Our seven methanol-fueled vessels have been operating safely and reliably since 2016, and we expect these new vessels to benefit from ongoing technological advances that will continue to optimize performance and efficiency,” says Paul Hexter, President, Waterfront Shipping.

“We are proud to see 40% of our fleet powered by methanol-fuel technology in the coming year.”

Patrik Mossberg, chairman of Marinvest, says his company is "very pleased" by the performance of the vessels delivered in 2016 and excited to be investing in another two.

“Our overall focus in the development of the dual-fuel system concept has been safety and engine reliability. We have found the technology for handling methanol is well developed and offers a safe dual-fuel solution for low-flashpoint liquid fuels," says Mossberg.

Koji Kondo, corporate officer at NYK, notes: "For over 130 years, we have been guided by our commitment to pioneering innovation. Investing in this proven groundbreaking and innovative marine technology exemplifies our commitment to using leading clean technology to meet the safe and dependable transportation needs of our global customers."

“With the growing demand for cleaner marine fuels to meet more stringent emission regulations, we’re seeking ways to reduce our environmental footprint. Investing in the next generation of fuels is one way we’ll continue to meet regulations while maintaining the efficiency of our operations," says Ryuichi Osonoe, director and managing executive officer at IINO.

“We are proud to be partnering with WFS to advance methanol as a sustainable marine fuel and be part of an innovative solution that meets the needs of the shipping industry and contributes to a more sustainable future”, says Takeshi Setozaki, chief operating officer, Mitsui.

Photo credit: Waterfront Shipping Company
Published: 15 February 2018

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