26 June 2023 (Lloyd's List) - THE newbuilding orderbook for containerships capable of utilising methanol fuel has now reached 109 vessels following the signing of shipbuilding contracts by CMA CGM and Maersk.
France’s CMA CGM, the world’s third-largest operator of containerships, is confirmed by shipbuilding sources to have penned 12 ultra-large boxships at China-based Yangzijiang Shipbuilding Group. The 24,000 teu vessels will be delivered during 2026 and 2027.
While no price has been disclosed, CMA CGM’s latest newbuildings are estimated to have been priced at circa $240-$250m per vessel.
CMA CGM’s latest order brings its backlog of dual-fuel methanol boxships up to 36 units.
Last year and in early 2023 the company signed newbuilding contracts for 12 13,000 teu capacity boxships at South Korea’s Hyundai Samho Heavy Industries and six 15,000 teu ships each at the China State Shipbuilding-owned Dalian Shipbuilding Industry and Jiangnan Shipyard. They are due for delivery from late-2024 through to 2026.
Meanwhile, Maersk has confirmed that it has signed firm shipbuilding contracts for six dual-fuel methanol containerships to bring its backlog of vessels capable of operating on the alternative fuel up to 25. The mid-sized, 9,000 teu capacity, ships are due for delivery in 2026 and 2027, also from China's Yangzijiang Shipbuilding.
The 8,000 teu vessels are estimated to cost between $140m and $150m each.
“With this order, we take another step in the green transformation of our fleet and towards our target of becoming net zero in 2040. As with all our other vessel orders for the last two years, these ships will be able to run on green methanol,” said Maersk chief infrastructure officer Rabab Boulos.
“For these six container vessels, we have chosen a design and vessel size which make them very flexible from a deployment point of view. This will allow these vessels to fill many functions in both our current and our future network.”
Maersk’s newbuilding contract boosts its backlog of dual-fuel methanol containerships up to 25 vessels. The company’s first dual-fuel methanol containership is due for delivery shortly from South Korea’s Hyundai Mipo Dockyard. The 2,100 teu vessel will be the first boxship to be commissioned capable of methanol fuel operations.
Interest in ordering methanol-fuel containerships has gathered pace since trailblazer Maersk ordered the first vessel capable of methanol-fuel operations two years ago.
Further orders for methanol-fuel containerships are expected to be placed in the third quarter of this year. They include up to 12 mid-sized vessels for Mediterranean Shipping Co and 24 ships of 24,000 teu capacity for Taiwan’s Evergreen.
Containership operators increasingly view methanol as the most viable way to meet the IMO’s 2050 carbon emissions and intensity reduction goals. While prices for large dual-fuel methanol boxship newbuildings are up to 10% higher than for a conventional-fuel, scrubber-fitted, vessel methanol offers 2% lower fuel consumption per kWh than conventional fuels.
In addition, the technology for methanol operations has already been proven on other vessel types such as products tankers and ro-pax ships, while methanol bunkering is similar to conventional bunkering operations.
