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News / Alternative Fuels/ NYK Group delivers methanol-fuelled “Takaroa Sun” to charterers

NYK Group delivers methanol-fuelled “Takaroa Sun” to charterers

07 Oct 2019
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Nippon Yusen Kaisha (NYK Group) on Saturday (5 October) announced the delivery of Takaroa Sun, a methanol carrier equipped with two-stroke dual-fuel engine technology that enables the vessel to be powered by methanol.

Built in South Korea at Hyundai MIPO Dockyard, the new ship was funded through NYK’s green financing initiative established to support environment-friendly projects.

Takaroa Sun was constructed with the MAN Energy Solutions second-generation B&W ME-LGIM two-stroke dual-fuel engine that runs on both methanol and conventional marine fuel.

The vessel will be chartered to Waterfront Shipping Company Limited (WFS), a wholly-owned subsidiary of Methanex Corporation, the world’s largest producer and supplier of methanol, in a long-term time-charter agreement between WFS and NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore.

“We are delighted to establish this relationship with WFS, which has expertise in methanol shipping, and we welcome our first methanol-fueled vessel into our fleet,” said Takeshi Kishi, managing director of NYK Bulkship (Asia) Pte. Ltd.

“Making use of the NYK Group’s attentive, safety-focused vessel management featuring advanced, new technology, we plan to fully meet the expectations of WFS.

“We will continue to transport cargo for customers around the world by corresponding to individual demands and strengthening our knowledge of new technologies.”

As a marine fuel, methanol is safe, biodegradable, and clean-burning, offering compliance with the International Maritime Organization’s (IMO) 2020 regulations by reducing sulphur oxides (SOx) by approximately 99%.

With the ability to be produced from renewable sources, methanol can also provide a pathway to meeting future carbon emission reduction targets. The vessel also has a processor that reduces nitrogen oxides (NOx) so that they meet the IMO’s stringent Tier III regulation.

“We are very pleased with the performance of our existing methanol-fuelled vessels that have proven the safety and reliability of the technology,” says Paul Hexter, President, Waterfront Shipping Ltd.

“With the delivery of Takaroa Sun, we are continuing to benefit from innovative technological advances that will optimize performance and efficiency.

“On an energy-equivalent basis, methanol is cost-competitive over the cycle and we see significant value creation opportunities from using a methanol flex-fuel engine.”

Photo credit: Nippon Yusen Kaisha
Published: 7 October, 2019

 

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