TotalEnergies to Charter Two Methanol-Fuelled Chemical Tankers

by Ship & Bunker News Team
Monday October 9, 2023

French energy producer TotalEnergies is set to charter two new methanol-fuelled chemical tankers upon their delivery in 2026.

US lender JP Morgan has advised on the order by institutional investors of two 49,800 DWT dual-fuelled MR chemical tankers from Guangzhou Shipyard International in China, it said in an emailed statement last week.

Both ships are due for delivery in 2026 and will be fixed on time-charter to TotalEnergies.

"We are excited to be expanding our footprint in a new fuel technology, in line with our GHG reduction investment orientation," Andrian Dacy, global head of JP Morgan's Alternative Global Transportation Group, said in the statement.

"We are also pleased to have expanded our partnership with TotalEnergies, with whom we have developed a range of initiatives across a number of transportation segments.

"We look forward to working together in supporting TotalEnergies's global commitment to a clean energy future."

Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.

Ship & Bunker News Team
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