The two methanol powered product tankers each boast a capacity of 50,000 dwt and will cost $50 million each.
The order shows the increasing significance of methanol as component in the ongoing drive for greener shipping practices and growing methanol demand as a marine fuel.
The dual-fuel technology allows the vessels to operate on both methanol and conventional fuels, offering operational flexibility while contributing to a tangible reduction in greenhouse gas emissions.
A similar contract was signed recently by Singapore-based tanker owner and operator Hafnia with GSI. Hafnia has ordered the construction of four 49,800 dwt dual-fuel methanol chemical MR tankers.
All four vessels are fixed via time charter to TotalEnergies shipping entity CSSA for a multi-year period. Three of these four vessels will be delivered in 2025, with the fourth delivered in 2026.
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