Asia/Pacific News
NYK Signs Newbuild Contract for First Methanol-Fuelled VLCC
Japanese shipping firm NYK has signed an agreement with Nippon Shipyard for the construction of its methanol-fuelled crude carrier.
The 310,000-dwt tanker will be chartered to Idemitsu Tanker upon delivery in 2028, NYK said in a statement on its website on Monday.
It will feature dual-fuel methanol engines, enabling it to run on methanol and conventional marine fuels.
NYK claims that by using methanol, the vessel can reduce CO2 emissions by up to 15% compared to fuel oil.
This will be the first very large crude oil carrier (VLCC) in NYK's fleet to be equipped with dual-fuel methanol engines.
"With its excellent energy efficiency and decarbonization advancement, the ship will play a leading role in the future decarbonization of crude oil transport," NYK said.
As the number of methanol-fuelled vessels in the global fleet grows, demand for methanol bunkers is set to rise.
The global methanol-fuelled fleet is currently made up of 55 vessels, with another 187 expected to join the fleet next year, according to classification society DNV.
