China Merchants Energy Shipping (CMES) has ordered a methanol dual-fuel VLCC, claimed to be the world’s first methanol-fuelled VLCC. At a total cost of $107.5m, the VLCC will be constructed by a shipyard in Dalian and is scheduled for delivery by April...
Avance Gas has exercised an option for two additional LPG/ammonia gas carriers from Nantong CIMC Sinopacific Offshore & Engineering.The newbuildings will have a cargo capacity of 40,000 cu m, which are expected to be delivered in 2026 and will cost $61.5m...
Japan’s Mitsubishi Shipbuilding is currently developing a fuel supply system for using ammonia onboard ships and has started tests on safety systems.The unit of Mitsubishi Heavy Industries (MHI) is developing the Mitsubishi Ammonia Supply and Safety System (MAmmoSS) and has...
Global operator of product and chemical tankers, Hafnia, has ordered four methanol-fuelled tankers– marking its first investment and step into the dual-fuel methanol landscape, further enhancing its values and ambitions towards a greener future.The deal - with joint venture partner,...
Chinese shipbuilders are forecast to receive newbuilding orders in excess of 50 milllion dwt this year as the market rebounds from 2022.The China Association of the National Shipbuilding Industry (CANSI) forecast that Chinese yards would deliver over 42 million dwt in...
The first half of 2023 has defied expectations for major shipbuilders with owners continuing to pile on newbuilding orders for containerships and LNG carriers.In the fourth part of our shipping market outlook series we are focusing on the outlook for...
