Yangzijiang Shipbuilding to build 6 methanol dual-fuel container ships for Maersk

YANGZIJIANG Shipbuilding has secured a contract from Maersk to build six 9,000 twenty-foot equivalent unit capacity methanol dual-fuel container ships.

In a bourse filing on Monday (Jun 26), the company said that this is the group’s first order win for this type of vessel.

The six vessels will be fully constructed in-house for delivery between 2026 and 2027.

Green methanol can reduce nitrogen oxide emissions by approximately 45 per cent and sulphur oxide emissions by approximately 8 per cent compared to conventional fuels per unit of energy, according to the International Maritime Organisation (IMO).

Yangzijiang Shipbuilding executive chairman and chief executive Ren Letian said: “These vessels will strategically replace the current capacity within Maersk’s fleet, which is in line with our ongoing efforts to support the maritime industry’s green fleet renewal trend.”

He added that the company is optimistic about gaining more orders as regulatory changes by the IMO push the shipping industry to decarbonise at a quicker pace.

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In a separate bourse filing, the group said that it has secured new orders for 69 vessels worth approximately US$5.6 billion year-to-date, exceeding its US$3 billion target for 2023.

Of the 69 vessels, new orders for 37 of those vessels were secured and announced on Apr 25, Jun 25 and Jun 26 this year. The group’s order book value stands at US$14.6 billion for 180 vessels.

Shares of Yangzijiang Shipbuilding closed up 5.5 per cent, or S$0.07 at S$1.35 on Monday before the announcement was made.