May 19, 2023 | Shipbuilding & ship repair news

Mitsui OSK Lines (MOL) has placed an order for a methanol carrier, which can run on either methanol or conventional heavy fuel oil with Hyundai Mipo Dockyard, scheduled for delivery in 2025.

A charter agreement for the new vessel has already been signed with Mitsubishi Gas Chemical Company. Since MOL delivered Japan’s first methanol carrier, the Kohzan Maru (first generation), to Mitsubishi Gas Chemical in 1983, the two companies have built a partnership centred on the ocean transport of methanol. The vessel will be the first dual-fuel methanol carrier to sail under a long-term charter for a Japanese company, and with the signing of the basic agreement, the two companies aim to further expand their cooperative relationship.

Methanol fuel can reduce SOx emissions by up to 99%, particulate matter emissions by up to 95%, NOx emissions by up to 80%, and CO2 emissions by up to 15% in comparison to burning conventional marine fuel. It is already in practical use and available for bunkering at about 130 major ports around the world. In the future, net GHG emissions can be reduced by using methanol derived from non-fossil raw materials, such as e-methanol produced by CO2 captured from diverse sources of emissions, hydrogen produced using renewable energy sources, and biogas-derived biomethanol.

MOL operates one of the world’s largest fleets of methanol carriers, with a total of 19, and in 2016, started operating a dual-fuel methanol carrier that can run on methanol fuel. The company currently operates five methanol dual-fuel methanol carriers worldwide, which have a cumulative methanol-fuelled operating time of about 35,000 hours, achieving a significant reduction in GHG emissions. In January, the MOL-owned Cajun Sun (pictured) completed the world’s first net zero voyage using biomethanol. MOL is currently promoting various initiatives in the supply chain for alternative fuels for merchant vessels.

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