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INCORPORATING

TWO MORE METHANOL-FUELLED VESSELS JOIN WATERFRONT FLEET

Wednesday, August 21, 2019 

Waterfront Shipping Company, a wholly owned subsidiary of Methanex Corporation, and Marinvest/Skagerack Invest (Marinvest) have taken delivery of two new clean-burning methanol tankers to the Waterfront Shipping fleet.

The two 49,000 dwt vessels, M/T Mari Couva and M/T Mari Kokako, were built in Korea at Hyundai Mipo Dockyard. Waterfront Shipping will charter the two vessels to replace older vessels. They are powered by second generation MAN B&W ME-LGIM two stroke dual-fuel engines that can run on both methanol and conventional marine fuels. The vessels join the seven existing methanol-fuelled vessels chartered by Waterfront Shipping which have accumulated over 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 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,” said Paul Hexter, President, Waterfront Shipping. “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% 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,” said 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.” 

René Sejer Laursen, Promotion Manager, MAN Energy Solutions said “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 sulphur-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.”

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