DRY-BULK shipping specialist Pacific Basin has ordered four methanol dual-fuelled ultramax vessels.
Two of the vessels are contracted jointly with Japan’s Nihon Shipyard and Imabari Shipbuilding, and two with Mitsui & Co.
Nihon Shipyard is to deliver the four 64,000 dwt ships in 2028 and 2029.
The low-emission vessels are of a new design optimised for fuel economy. They will be designed to run on conventional fuel oil and biofuel as well as green methanol.
Pacific Basin said it is confident that methanol is currently the most appropriate low-carbon marine for its first generation of low-emission vessels, but it will continue to reassess the benefits of different fuels as green fuel technology, safety, availability and pricing develop.
Pacific Basin CEO Martin Fruergaard said the order represents a milestone in the company’s plan to transition to net zero emissions by 2050.
“We are confident that the vessels’ design, specification and quality will meet our cargo customers’ requirement for safe, reliable and low-emission transport well into the future,” he said.
“We are … enabling growth through additional LEV newbuilding orders and/or long-term charters of newbuildings with purchase options, while maintaining discipline in our acquisition of high-quality modern second-hand handysize, supramax and ultramax vessels to renew our fleet while selling older and less efficient handysize vessels.”
Pacific Basin also entered a memorandum of understanding with Mitsui & Co on 28 November that gives the company access to volumes of methanol that will enable the vessels to comply with FuelEU maritime rules and anticipated IMO global GHG fuel standard rules.
The company is in dialogue with several green-fuel suppliers and producers to develop its access to bio-methanol, e-methanol and biofuel.
