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Four methanol-powered tankers ordered at Hyundai Mipo for Waterfront Shipping

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Waterfront Shipping Co (WFS) has partnered with four other shipowners to order four 49,000 dwt vessels from Hyundai Mipo Dockyard (HMD) which can run on Methanol.

Two of the vessels will be owned by a joint venture between WFS and Marinvest, one will be owned by NYK and the fourth will be owned in a joint venture between IINO Kaiun Kaisha and Mitsui & Co. All four vessels will be chartered by WFS.

The vessels due for delivery in 2019 from HMD will be powered by MAN B&W ME-LGI two-stroke dual fuel engines that can run on methanol, fuel oil, marine diesel or gas oil. 

The newbuilds will join a fleet of seven methanol powered vessels chartered by WFS.

“With seven engines already in operation and proven in the field, this new order confirms the ME-LGI concept as a mature technology. Since this dual-fuel engine entered the market in 2016, its price has dropped considerably, which makes it an even more attractive propulsion option,” said René Sejer Laursen, promotion manager, MAN Diesel & Turbo.

“Allied with its environmental credentials and convenience of use when employing methanol as a fuel, we are confident the ME-LGI will continue its promising progress.”

Paul Hexter, president of WFS said: “Our seven methanol-fueled vessels have been operating safely and reliably since 2016, and we expect these new vessels to benefit from ongoing technological advances that will continue to optimize performance and efficiency.”

Once the new vessels are delivered 40% of WFS' fleet will be methanol powered.

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