COSCO Shipping increases its methanol stake with a US$ 2.15bn order for twelve new dual-fuel container ships.
Chinese container shipping major COSCO Shipping has signed a contract with COSCO Shipping Heavy Industry Co for the construction of twelve 14,000 TEU container ships equipped with dual-fuel methanol propulsion. The order is worth around US$2.15bn.
The new ships belong to a new generation of ship types developed jointly by COSCO Shipping Lines, COSCO Shipping Heavy Industry and the China Shipbuilding and Ocean Engineering Design and Research Institute. Cosco Shipping Heavy Industry Yangzhou (Cosco HI Yangzhou) will be in charge of the construction. The vessels will have a length of 335.9 metres, a width of 51 metres and what has been described by COSCO as “an invisible bulb bow and stern energy-saving device.”
“The new vessels are equipped with the world’s most powerful permanent magnet shaft generator, a bow wind deflector, an air lubrication system for the hull and intelligent systems developed by COSCO SHIPPING that fulfil the third phase of EEDI energy efficiency indicators and the latest cyber security regulations. The dual-fuelled main engine and generator are both powered by methanol to significantly reduce greenhouse gas emissions,” COSCO Shipping said.
The Chinese shipping giant has already ordered twelve 24,000 TEU container ships with methanol dual-fuel propulsion and signed contracts for the conversion of eight ships to methanol dual-fuel propulsion. The first order for a dozen od methanol-powered newbuilds, worth US$ 2.87 billion, was signed in October 2022. NACKS, a joint venture between Kawasaki Shipbuilding Corporation and COSCO Shipping, will build seven of the ships, while DACKS, another joint venture between COSCO Shipping and Kawasaki Shipbuilding, will construct the remaining five. The ships, each valued at US$239.8 million, are scheduled for delivery between 2026 and 2028.
source: https://www.worldcargonews.com/news/2024/08/cosco-shipping-doubles-down-on-methanol-with-new-order/
