HMM readies methanol-fuelled newbuilds

2022 is rapidly shaping up as the year methanol went global in the shipping industry.

South Korea’s flagship carrier HMM is the latest shipping line to be veering towards methanol dual fuel orders with multiple local media outlets suggesting it has invited tenders from Korean yards to build up to nine 8,000 teu dual fuel ships.

Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering and HJ Shipbuilding & Construction are all in the mix for contracts. HJ Shipbuilding & Construction was formerly known as Hanjin Heavy Industries & Construction.

“We are looking into the likelihood of ordering methanol dual-fueled ships in line with our mid and long term strategy announced in July this year,” a spokesperson for HMM, the world’s 8th largest carrier, told Splash today.

The news comes in a year that has already seen some of the industry’s biggest players commit to methanol dual fuel newbuildings as a means to progressively reduce carbon emissions and cut ship-source pollution.

Maersk set the ball rolling with multiple boxship orders. In China, the nation’s top two shipping companies, COSCO and China Merchants, have also come out in support of methanol, while in the liner field Maersk has been joined by the likes of CMA CGM and X-Press Feeders. Hong Kong’s Pacific Basin, meanwhile, has got the dry bulk community talking following a recent commitment to develop methanol-fuelled newbuilds in Japan.

Other companies including Waterfront Shipping, Proman Stena Bulk, NYK and MOL have built a series of methanol carriers that use a segregated portion of the cargo as fuel.

“This has truly been the year that methanol went mainstream for the shipping industry, reflecting its high availability, future-proof pathways, and transparent pricing. This year’s orders demonstrate that owners see methanol as a present and powerful solution to reduce carbon emissions and enable a straightforward transition to renewables in future,” Chris Chatterton, chief operating officer of the Methanol Institute told Splash.