Maritime industry favours methanol-powered vessels in 2024

According to data from DNV-Maritime, since the beginning of the year, 23 methanol-fueled ships have been to the Alternative Fuels for Shipping Index (AFI) database. The ordering has been dominated by the containership sector solidifying the sector’s momentum toward sustainable fuels.

Ten LNG-powered vessels have been added to AFI, as explained by Martin Christian Wold, DNV’s Principal Consultant at DNV. The ordering trend seems to be picking up on last year’s tendencies setting the tone for the continuation of the race for supremacy between methanol and LNG.

A large portion of methanol-powered ships ordered can be attributed to a single shipowner. Namely, in the middle of January 2024, Singapore-based shipping company Ocean Network Express (ONE)  confirmed the order for twelve 13,000 TEU methanol dual-fuel containerships at Jiangnan Shipyard and Yangzijiang Shipbuilding.

Each shipyard will build six vessels. The ships will have dual-fuel methanol propulsion and are all scheduled to be delivered in 2027.

The bulker sector is also joining the methanol surge. Chinese bulker owner Fujian Guohang Ocean Shipping (Group) signed a construction deal with compatriot Wuhu Shipyard Co. for up to ten 89,000 dwt methanol dual-fuel bulk carriers.

Under the contract, Wuhu Shipyard will build four firm units and up to six additional sister vessels. January 2024 also saw the naming of Maersk’s 16,000 TEU methanol-enabled containership – Ane Mærsk.

Deliveries of LNG-powered ships have also been high since the start of 2024. SAIC Group, a prominent Chinese automotive manufacturer, officially named and commissioned the LNG dual-fuel car carrier SAIC Anji Sincerity.Constructed by CSSC Jiangnan Shipyard, the vessel, featuring 7,600 parking spaces, is exclusively built for SAIC Anji Logistics, a subsidiary of SAIC Group. Saic Motor said that SAIC Anji Sincerity stands out as the world’s largest LNG dual-fuel ro-ro ship currently in operation.

The 210,000 dwt vessel, SG Ocean, was ordered by NYK and will be deployed to transport iron ore and coal from Australia to Japan under a long-term consecutive voyage charter contract with JFE Steel Corporation (JFE). Some of the latest deliveries also include Stena RoRo’s multi-fuel E-Flexer Ala’suinu.

The E-Flexer series is fitted with engines that can run on LNG, conventional marine fuel (MGO) or biodiesel.

On the bunkering front, several important vessel deliveries have been reported since the beginning of the year, including China’s first methanol bunkering vessel Hai Gang Zhi Yuan. Brassavola, a 12,000 cubic meter LNG bunker vessel set to be deployed in the Port of Singapore, has been delivered to Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K. Lines (MOL).

The bunker vessel was built by Singapore’s Seatrium, previously known as Sembcorp Marine, which announced the delivery via social media on January 29.

TFG Marine, an international marine fuel joint venture founded by Trafigura, Frontline and Golden Ocean, christened its first LNG duel-fueled bunker tanker at the end of last month. The 5,000 dwt newbuild vessel, the MT Diligence, will join the company’s low sulphur fuel oil and biofuel supply operations in the major bunkering center of Singapore

Meanwhile, Hudong-Zhonghua, a subsidiary of China State Shipbuilding Corporation (CSSC), has launched an LNG bunkering vessel ordered by compatriot Anhui Changjiang LNG.