Waterfront to Add Four More Methanol-Fueled Ships

Canada-based Waterfront Shipping Company (WFS) and partners have unveiled an investment to build four new ocean-going vessels powered by clean-burning methanol fuel.

The parties, including Mitsui & Co. Ltd. (Mitsui), NYK Group (NYK), Marinvest/Skagerack Invest (Marinvest) and IINO Kaiun Kaisha (IINO), would see the four 49,000 dwt tankers delivered in 2019 from the South Korean shipbuilder Hyundai Mipo Dockyard.

WFS will charter the quartet to replace older tonnage and support growing demand for methanol around the world. 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.

To feature MAN B&W ME-LGI 2-stroke dual-fuel engines that can run on methanol, fuel oil, marine diesel oil or gas oil, the newbuildings will join the existing seven methanol-fueled vessels chartered by WFS.

In 2016, WFS, Marinvest, Mitsui O.S.K. Lines and Westfal-Larsen Management received the seven previously ordered fuel-efficient ocean-going vessels.

“With seven engines already in operation and proven in the field, this new order confirms the ME-LGI concept as a mature technology. Since this dual-fuel engine entered the market in 2016, its price has dropped considerably, which makes it an even more attractive propulsion option,” René Sejer Laursen, Promotion Manager, MAN Diesel & Turbo, said.

Paul Hexter, President at Waterfront Shipping, informed that 40 percent of the company’s fleet would be powered by methanol-fuel technology in the coming year.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >