Waterfront Shipping has welcomed the first two ships in its new class of second-generation methanol-fueled tankers.
The two ships, named M/T Mari Couva and M/T Mari Kokako, are the first of four 49,000 dwt tankers built with 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 seven existing methanol-fueled vessels already chartered by Waterfront Shipping, a wholly subsidiary of Vancouver-based Methanex Corporation.
According to Methanex, the seven vessels have surpassed more than 50,000 operating hours running on methanol in compliance with IMO 2020 emissions regulations. The two new vessels, together with two additional vessels to be delivered by year-end, are also 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,” says 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 percent 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,” says Patrik Mossberg, Chairman of Marinvest, which partnered with Methanex on the project and also manages the vessels. “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.”