First Methanol-Fueled Ships to Join the Market in April

The first clean-burning, fuel-efficient vessels, equipped with the MAN B&W ME-LGI 2-stroke dual fuel engines that can run on methanol, fuel oil, marine diesel oil, or gas oil, will start joining the shipping market in April.

Two out of a batch of seven 50,000 dwt ships will join their owners Westfal-Larsen Management (WL), and a joint venture with Waterfront Shipping Company (WFS) and Marinvest/Skagerack Invest (Marinvest) on April 20 and 28, respectively.

The third dual-fuel vessel will be delivered to Mitsui O.S.K. Lines, Ltd. (MOL) in Japan on April 22.

The remaining four 50,000 dwt methanol carriers are scheduled for delivery by October 2016.

All ships, built by Hyundai Mipo Dockyard and Minaminippon Shipbuilding, will be chartered by WFS.

“With the growing demand for cleaner marine fuel to meet environmental regulations, methanol is a promising alternative fuel for ships that can meet the industry’s increasingly stringent emissions regulations,” MAN Diesel & Turbo said.

“Investing in methanol-based marine fuel reinforces our commitment to invest in sustainable technology that not only provides environmental benefits but also an economically viable alternative marine fuel. The cost to build new and convert existing vessels to run on methanol is significantly less than alternate fuel conversions,” Jone Hognestad, President, Waterfront Shipping, said.

Out of the series of seven ships, two are owned by WL, another two are jointly owned by Marinvest and WFS, while the remaining three vessels are owned by MOL.

MOL ordered the methanol carriers from Minaminippon Shipbuilding in mid-2015.

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