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Increasing momentum in green methanol-fueled vessels

Hafnia orders dual-fuel methanol chemical IMOII MR newbuilds

 

Together with Joint-Venture partner “Socatra of France”, Hafnia has concluded an order for four 49,800 deadweight dual-fuel Methanol Chemical IMOII Medium-Range (MR) Newbuilds, constructed out of Guangzhou Shipyard International (GSI), in China.

In line with Hafnia’s sustainability values and ambitions in transitioning towards a greener future and maritime sector, this is Hafnia’s first investment and step into the dual-fuel methanol landscape. In 2023, Hafnia took delivery of two of its four Liquified Natural Gas (LNG) dual-fuel LR2 Product Tankers – the Hafnia Languedoc and Hafnia Loire, also built out of GSI, with the two remaining vessels to be delivered up to 2024. The Hafnia Languedoc and Hafnia Loire are both on a Time-Charter agreement to TotalEnergies.

The increasing momentum in green methanol-fueled vessels highlights its ability as a cleaner marine fuel, with a future-proofed and proven net-zero pathway, furthering Hafnia’s ambitions in meeting the IMO’s 2050 targets.

The use of green methanol onboard eliminates local pollutants, including SOx and Particulate Matter (PM), cuts NOx emissions by 60%, and reduces CO2 emissions by close to 100% on a tank-to-wake basis versus conventional marine fuels.

Three of these four vessels will be delivered in 2025, with the fourth delivered in 2026. All four vessels are fixed via Time-Charter to TotalEnergies shipping entity CSSA for a multi-year period.

On confirming this new order, Søren Steenberg Jensen – Head of Asset Management says, Given the time it takes to build a vessel and the time it takes actually to start moving the needle on carbon emissions, it is important to act now and take proactive steps in decarbonizing the maritime industry.” Søren states “It does, however, require partnerships with Charterers, to make the financials work. The cost of the new fuels’ technologies, if unsupported by long-term contracts, will have most owners refrain from taking the financial risk of the future fuel’s technology alone on otherwise already expensive assets.” He continues “We are very proud to be partnering with long-standing customer TotalEnergies, who are very committed in actively driving this transition with us.”

 This deal marks the second time Hafnia partners with TotalEnergies in taking joint steps to develop low-carbon shipping solutions.

Jerome Cousin, Senior Vice President of Shipping at TotalEnergies, says, “As the IMO just decided new ambitious targets to decarbonize shipping, TotalEnergies is mobilized to enable the development of low carbon shipping. The dual-fuel methanol propulsion of the chartered MR tankers will offer highly valuable fuel flexibility and the actual capability for TotalEnergies to steer the decarbonization of its shipping activity, in line with the Company’s ambition. We are also very pleased to expand the relationship with Hafnia, and its French partner Socatra to benefit from their expertise and deliver safe, low carbon, and efficient shipping services.”

 

This article is shared by courtesy of Hafnia. https://hafniabw.com/

For more articles about methanol-fueled vessels, click here.

Narjiss Ghajour

Editor-in-Chief of Maritime Professionals
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