Fairfield Chemical Carriers’ third LNG-fueled chemical tanker launched

Japanese shipbuilder Fukuoka Shipbuilding has launched the third in a series of four stainless steel chemical tankers powered by liquefied natural gas (LNG) for US-based shipowner Fairfield Chemical Carriers.

As informed, the launching of the tanker Fairchem Prestige took place on April 22, 2024. The expected delivery date of the vessel is November 2024.

“As the third in a series of four dual-fuel LNG-powered stainless steel chemical tankers, the vessel represents a significant commitment to lower greenhouse gas emissions,” the shipping company noted.

To remind, in April last year, Fairfield Chemical Carriers launched Fairchem Pioneer, its first LNG-powered stainless steel chemical tanker.

According to the shipowner, the vessels in these series boast a LNG propulsion technology that could reduce carbon dioxide emissions by up to 25% compared to traditional marine fuels.

Fairfield Chemical Carriers was recently acquired by chemical tanker operator MOL Chemical Tankers, a subsidiary of Japanese shipping major Mitsui O.S.K. Lines (MOL).

The acquisition, completed on March 1, is based on a share transfer agreement signed at the end of September 2023. The company obtained approval from the relevant authorities under competition law. The acquisition price of the shares was about $400 million.