Nantong Xiangyu strikes deal to build methanol-ready bulker octet

Chinese shipbuilding company Nantong Xiangyu Shipbuilding & Offshore Engineering has received a contract to build eight methanol-ready bulk carriers for compatriot Xiamen Financial Leasing and Cosco Shipping Bulk.

As disclosed, the partners signed the contract for construction of eight bulkers on March 12. The eight 64,000 dwt methanol-ready ships will incorporate new ship materials and technologies, and will be able to use methanol fuel in the future. Compared with similar ships, they will have larger load capacity, lower fuel consumption, and more fuel efficiency, according to Nantong Xiangyu.

The companies hope that the collaboration will combine advantages in the fields of ship construction, financing, ship operation and management.

“The contract for eight methanol ready ships signed this time is the fruit of strong cooperation between multiple parties and an important measure taken by Xiamen Financial Leasing to promote the development of green shipping,” Xiamen Financial Leasing stated.

Nantong Xiangyu Shipbuilding & Offshore Engineering currently has more than 100 Ultramax ships on order. The shipbuilder plans to promote the optimization and upgrading of next-generation bulk carriers in the future, as well as to invest in low-carbon and zero-carbon fuel technologies.

To remind, in February this year, Nantong Xiangyu secured an order to build six 38,000 dwt stainless steel chemical tankers for NYK Stolt Tankers (NST), a joint venture between shipping companies NYK Line and Stolt Tankers.

The vessels are designed to maximize fuel efficiency using a wide range of energy savings devices and shore power connection. They can also be retrofitted for battery and methanol propulsion.

The tankers are slated for delivery between late 2026 and 2029.