Iraq Set for Key Oil Cargo Surge in Sign of Increased Output
Iraq will raise shipments of a key crude grade next month, part of an enlarged export program indicating that the OPEC+ nation is boosting its oil production.
Japanese shipping group NYK has taken delivery of a third methanol-fueled chemical tanker, named Grouse Sun, from Hyundai Mipo Dockyard in Korea.
The ship was handed over April 19th to Singapore-based owner NYK Bulkship (Asia), an NYK Group company, and will enter into a long-term charter to Waterfront Shipping, under NYK Shipmanagement management.
Grouse Sun is fitted with a dual-fuel engine that can burn both heavy fuel oil and also methanol. The 30,873 deadweight tonne ship measures 186 meters in overall length and 32.20 meters wide. NYK says that by adding water to methanol to lower its temperature during combustion, the tanker can comply with the IMO’s stringent Tier III NOx emission standard without the need for an exhaust gas recirculation (EGR) system and a selective catalytic reduction (SCR) device.
Delivery of the vessel to NYK follows delivery of the Seymour Sun this past January and Takaroa Sun in 2019.
Waterfront Shipping is a subsidiary of the world’s largest methanol producer, Methanex Corporation, and operates the world’s largest methanol tanker fleet comprising of 30 deep-sea tankers, a number of which are powered by methanol fuel.
As a marine fuel, methanol can reduce sulphur oxides (SOx) emissions by up to 99 percent, particulate matter (PM) emissions by up to 95 percent, nitrogen oxides (NOx) by up to 80 percent, and CO2 emissions by up to 15 percent compared to conventional marine fuels. Methanol produced from renewable sources can reduce CO2 emissions by up to 95 percent.
Sign up for gCaptain’s newsletter and never miss an update
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up