Waterfront Shipping Acquires 2nd Generation Low Emission Methanol-Fuelled Vessels
Waterfront Shipping Company Ltd., a wholly-owned subsidiary of Methanex Corporation, and Marinvest/Skagerack Invest (Marinvest) has acquired two new innovative, clean-burning vessels, M/T Mari Couva and M/T Mari Kokako, to the Waterfront Shipping fleet.
These 49,000 dwt vessels are powered by the 2nd generation of MAN B&W ME-LGIM two-stroke dual-fuel engines that can run on both methanol and conventional marine fuels. Apart from these 2 new vessels, Waterfront Shipping has seven existing methanol-fuelled vessels that have been appreciated by the marine industry for their use of methanol as an alternative fuel.
These existing vessels have surpassed more than 50,000 operating hours running on methanol in compliance with IMO 2020 emissions regulations. The two new vessels – together with an additional two vessels that will be delivered to Waterfront Shipping by year-end – are also able to meet IMO Tier III emissions standards without the need for exhaust gas after treatment.
“We are very excited by the performance of our first seven methanol-fuelled vessels that have proven the safety and reliability of the technology. With this second generation of vessels, we will benefit from innovative technological advances that will continue to optimize performance and efficiency,” says Paul Hexter, President, Waterfront Shipping Ltd. “On an energy-equivalent basis, methanol is cost-competitive over energy price cycles and we see significant value creation opportunities from using a methanol flex-fuel engine. We are proud that approximately 40 percent of our fleet will be powered by methanol-fuel technology by the end of the year.”
“Our first two methanol-powered ships were delivered in 2016, and each now has more than 10,000 successful running hours on methanol with no issues that have resulted in off-hire or idle time,” says Patrik Mossberg, Chairman, Marinvest. “It is important that we share our experiences and make the industry aware that methanol is a well-proven, simple-to-adopt solution offering compliance with IMO 2020 regulations and provides a pathway to meeting IMO 2030 and 2050 CO2 emission targets.”
Methanol is one of the world’s most widely traded and used chemicals. It is available globally at major ports, providing a cost-effective solution to meet the needs of shipowners who want an alternative marine fuel.
Methanol is safe, biodegradable and clean-burning fuel that can meet the most stringent environmental regulations prescribed by IMO. In addition to IMO 2020-compliant SOx emissions and the ability to meet Tier III NOx regulations without exhaust after-treatment, methanol can also provide a pathway to meeting future carbon emission reduction targets when it is produced from renewable sources.
René Sejer Laursen, Promotion Manager at MAN Energy Solutions says: “We developed the ME-LGIM engine in response to interest from the shipping world in alternatives to heavy fuel oil. With the growing demand for cleaner marine fuels, methanol is a sulfur-free alternative that meets the industry’s increasingly stringent emission regulations. We are also very happy to collaborate once again with Methanex, whose vessels have showcased the benefits of operating on methanol and that meeting Tier III limits is possible through mixing methanol with water. Furthermore, a methanol-burning engine can enable the vessels to meet future greenhouse-gas emission standards as methanol can be produced in a carbon-neutral fashion from renewable sources. As such, the ME-LGI concept is mature technology and MAN Energy Solutions looks forward to exploring its many possibilities in the future.”
The two new vessels, a joint venture between Waterfront Shipping and Marinvest, were built in Korea at Hyundai Mipo Dockyard. Waterfront Shipping will charter the two vessels to replace older vessels. A further two vessels, also powered by methanol, will be delivered to Waterfront Shipping before the end of 2019.