HMD Builds 2 Methanol-Fueled Tankers
Two new dual-fueled tankers capable of operation using clean-burning Methanol, Mari Couva and Mari Kokako were named at the Hyundai Mipo Dockyard (010620.KS) (HMD) by owners Marinvest and Waterfront Shipping.
The Methanol Institute has welcomed the launch of the 49,000dwt product tankers.
“The launch of the Mari Couva and Mari Kokako is a milestone for the acceptance of Methanol as a safe and reliable marine fuel that can meet IMO2020 regulations and create a pathway to lower carbon shipping,” said Greg Dolan, CEO, The Methanol Institute.
“The fact that the new ships feature more efficient engines capable of achieving IMO NOx Tier III compliance with no further modification demonstrates that this is a technology that is moving forward consistently,” he added.
A further two vessels will join the Waterfront fleet before the end of the year, owned by NYK and Mitsui/IINO Kaisha and chartered to Waterfront Shipping.
The new tonnage will join the seven existing dual-fuel tankers operated by Waterfront Shipping which have recently marked 50,000 hours of trouble-free operations on Methanol as fuel.
The use of Methanol as fuel requires very little additional investment into the ship since the fuel is a liquid and has handling properties similar to those for conventional distillate fuels. This makes it suitable for both newbuildings and retrofit projects, with minimal impact on cargo space and a simple training process for crew.
Interest in the use of Methanol as marine fuel has continued to grow in recent years, with numerous research projects completed or in progress to investigate the suitability of marine fuel across multiple vessel types.
“The investment in these vessels is a perfect example of companies looking to explore innovative ways to meet global emission requirements for the marine sector, something which continues in vessel demonstration programs in Europe, China and Singapore,” said Chris Chatterton, Chief Operating officer of the Methanol Institute.
“We expect the implementation of the IMO2020 regulations to further increase interest in Methanol as a marine fuel that can deliver cost-effective compliance,” he added.