Canadian duo orders four methanol-ready bulk carriers

Canadian shipping companies Algoma and Canada Streamer Line (CSL) have jointly ordered four methanol-ready Kamsarmax-based bulk carriers.

PHOTO: Algoma’s self-unloading bulk carrier Radcliffe R. Latimer. Algoma Central Corporation

Methanol-ready means that the vessels will likely run on conventional fuels from when they are delivered, until they are converted to be able to consume methanol. Methanol-ready vessels are generally designed in a way that prepares them for future retrofits.

The 72,250-dwt vessels will be constructed by China’s Jiangsu Yangzi-Mitsui Shipbuilding. The first vessel will be delivered in July 2025, followed by further deliveries every three months.

Algoma and CSL will take delivery of two vessels each. They will also have the option to build two additional vessels.

Globally, shipowners are increasingly turning towards methanol as a low-emission alternative to conventional marine fuels. The main reason for this is that methanol is said to be available to bunker in over 100 ports around the world, and large ship engines have been developed to consume it.

Last week, South Korean shipping major Hyundai Merchant Marine (HMM) placed an order for methanol dual-fuel engines for nine of its container ships.

Shipping giants A.P. Møller – Mærsk and COSCO Shipping Lines are already in the lead with double-digit orders for methanol-fuelled vessels. French shipping major CMA CGM has ordered six methanol-powered vessels with a capacity of 15,000 TEU for delivery by 2025.

By Konica Bhatt

Please get in touch with comments or additional info to news@engine.online