The ship will be the first dual-fuelled vessel exporting ethylene from Japan. File Image / Pixabay
Oil products company ENEOS and shipping firm Marubeni Corporation are set to work together on the development of an LNG-fuelled ethylene carrier.
The two companies have signed a memorandum of understanding to introduce the new vessel, to be chartered by Marubeni over the long term, they said in a press release on Friday. The dual-fuelled ship, to be capable of running on LNG or VLSFO, will be due to enter operation in 2024.
"The vessel will be the first ethylene carrier equipped with a dual fuel engine (liquified natural gas/very low sulfur fuel oil) built for ethylene export from Japan, which can reduce emissions of carbon dioxide by roughly 40% compared to conventional ethylene carriers," the companies said in the statement.
"ENEOS and Marubeni intend to further develop carbon neutralization in the ethylene supply chain in order to meet customer needs for low carbon and decarbonization."