Singapore shipowner Consort Bunkers has signed a contract with China Merchants Industry Nanjing Jinling Shipyard for six 6,500-ton methanol fuel bunkering ships.
The 6,500-ton methanol fueling ships have a total length of 103.88 meters, a molded width of 19.00 meters, and a design draft of 7.00 meters. They are suitable for carrying methanol, fatty acid methyl ester, biofuels, and more, the shipyard said.
Further details on delivery dates and pricing were not disclosed.
The contract signing comes after months of negotiations between the two sides, as both parties look at ways of helping the industry reduce carbon emissions.
The order is being placed in the wake of the growing demand for methanol as fuel by shipowners.
Compared with other fuels like liquefied natural gas (LNG), methanol is more convenient for storage and transportation as it is a liquid fuel at ambient temperature and pressure. It can be used in existing diesel engines with relatively minor adaptations, making the conversion process much less expensive than other alternative fuels.
Methanol is quickly becoming the most feasible, low-carbon substitute for fossil fuels as orders for methanol-fuel vessels are picking up at a growing speed.
Data shows that only in the first two months of 2023, over 20 methanol-fuelled ships have been ordered. These include HMM’s nine recently ordered 9,000 TEU containerships powered by methanol dual-fuel engines as well as twelve ULCVs ordered at Korea Shipbuilding & Offshore Engineering (KSOE) by an unnamed shipowner, believed to be CMA CGM.
In addition, Swiss freight trader Cargill has placed an order for two methanol-fuelled bulk carriers in Japan. The company has teamed up with Mitsu & Co, and ordered a Kamsarmax duo from Japanese shipbuilder Tsuinesihi Shipbuilding.
In March, Singapore-based shipping company Ocean Network Express (ONE) placed an order for ten methanol/ammonia-ready containerships.
As disclosed, the vessels will have a carrying capacity of 13,700 TEU. The units will be ready for methanol and ammonia and equipped with a bow shield and other energy-saving technologies.
Singapore-based Consort Bunkers is mainly engaged in bunkering and fuel oil transfer in Singapore, the Middle East, and China. The company currently operates a fleet of over 30 bunkering ships.