Methanex subsidiary Waterfront Shipping has entered into a time charter with Trafigura for the 2021-built methanol dual-fuel product tanker Mari Innovator.
.The vessel is owned by Clean Sea Transport, a consortium made up of MSEA Group, Arkview Capital and Scorpio Tankers, and has been on a long-term charter to Waterfront. The deal with Trafigura marks the first time a non-methanol producer has time chartered a methanol dual-fuel engine tanker.
Modi Mano, CEO at Clean Sea Transport, commented: “The Mari Innovator is our third-generation dual-fuel vessel and offers a number of advantages to Trafigura including the flexibility to diversify fuel options or consume methanol for potential cost savings. It is equipped with the latest technological innovations and fuel consumption is particularly low for a medium-range tanker.”
Explaining the significance of the deal, Mano told Splash that all dual-fuel methanol business in the tanker space was previously done for and in the interest of players who carry methanol. This new deal, Mano says, creates a marketplace for charterers to start using dual-fual tonnage, bunker the vessels with methanol and see that it works operational, logistically and commercially.
Trafigura is planning to use the Mari Innovator on normal clean products trading routes.
“We’re advocating for industry-wide action on shipping emissions and investing in new technologies and vessels to help achieve a more sustainable shipping industry,” said Andrea Olivi, head of wet freight for Trafigura. “We’re excited about the cooperation with Waterfront Shipping and Clean Sea as we explore and learn also how methanol technology can integrate with our fleet to achieve our carbon intensity reduction goal of 25 per cent by 2030 across our entire chartering operation.”
Paul Hexter, president of Waterfront Shipping, added: “We’re pleased to partner with Trafigura to share our global experience and knowledge with operating and bunkering vessels using methanol fuel technology.”
