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Smyril Line ink contract for two methanol-ready RoRo cargo ships

Ships will be prepared to sail on e-methanol bunker fuel, which is considered to be the best future choice for green energy at Smyril Line.

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Smyril Line ink contract for two methanol-ready RoRo cargo ships

Smyril Line on Wednesday (7 February) announced that a contract has been made with the CIMC Raffles shipyard in China to build two new methanol-ready cargo ships for the company. 

These are two identical RoRo ships, measuring 190 metres in length and having 3,300 lane metres for trailers. 

The new cargo ships will join Smyril Line's current network, and they are planned to start sailing in 2026. The ships are designed for optimal year-round seaworthiness in the North Atlantic with great emphasise on our crew comforts and wellbeing on board.

The ships are being designed in close cooperation with Knud E. Hansen, naval architects, who, together with the extensive experience of Smyril Line in the North Atlantic, will ensure that the ships are built for the special route between Europe, the Faroe Islands, and Iceland. 

The ships will be modern and environmentally friendly, meeting all international emission standards. Compared to the company's existing fleet, they will emit significantly less per transported ton. At the same time, the ships will be equipped with a battery system and the possibility for shore power, which means that port operations can be conducted without emissions. 

The ships will also be prepared to sail on e-methanol, which is considered to be the best future choice for green energy at Smyril Line.

Jens Meinhard Rasmussen, CEO of Smyril Line, said: “Now is the time to set ourselves new and bigger goals towards reducing emissions in the North Atlantic.”

“The company's main goal is to ensure safe and reliable transportation of both passengers and cargo, and to connect the periphery of the North Atlantic with the rest of the world.”

“With the new ships, we emphasise futureproofing and leading the company towards a greener energy solution and lead the way for Smyril Line towards the goals for decarbonisation in our fleet renewal, supporting the green transition of the shipping industry.”

“We will also transport much larger quantities of cargo with less energy consumption than we do now. The energy saving will be at least 60%. This is an important step for us to achieve our goals towards net-zero emissions by 2050, while we can offer our customers an even better service.”

“We have been operating routes in the North Atlantic since 1982. This is not just one of the world's longest ro-ro and ro-pax routes, but probably also the one with the most challenging sailing conditions. We know from experience that sailing on our route places great demands on both ship and crew, and we have therefore designed the ships with this in mind.”

 

Photo credit: Smyril Line
Published: 13 February, 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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