Navios Maritime Partners to bolster fleet with new methanol-ready scrubber-fitted boxships

October 4, 2024, by Sara Kosmajac

The U.S.-listed Greek dry cargo vessel owner and operator Navios Maritime Partners has placed an order for two methanol-ready 7,900 TEU containerships at a South Korean shipyard.

The vessels, which will be built by HJ Shipbuilding & Construction (HJSC), cost the company approximately $106 million each according to data from Intermodal. Believed to be chartered by Singapore-based Ocean Network Express (ONE), they will commence upon delivery in 2027 and run through 2030.

The two boxships will reportedly be methanol-ready and fitted with an exhaust gas cleaning system (EGCS), better known as ‘scrubbers‘, which removes particulate matter and harmful substances, such as sulfur oxide (SOx) and nitrogen oxide (NOx), from gas streams emitted by ships, owing to which the ships are projected to possess a ‘minimal’ environmental impact.

With the latest agreement, Navios’ total contract value at HJ Shipbuilding & Construction is understood to be $424 million, solidifying the company’s orderbook that now contains around 32 vessels as part of a ‘multi-billion’ dollar investment. Of these, three are bulk carriers, with the rest being containerships and crude oil tankers. All are expected to enter service within the next three years.

Navios is one of several Greek shipowners heavily investing in newbuild container vessels.

As per data from Vessels Value, in June this year, South Korea’s shipbuilder Hanjin Heavy Industries & Construction, ordered four 7,900 TEU liquefied natural gas (LNG) dual-fuel Post-Panamax vessels from Navios Maritime Partners. The ships are projected to be completed and delivered by 2027.

Back in 2021, soon after the reveal that Navios Maritime Partners and tanker owner Navios Maritime Acquisition would merge into a standalone entity, the Greek operator bolstered its fleet with six 5,300 TEU newbuilding boxships, costing $61.6 million each.

Currently, Navios Maritime Partners owns a fleet of 178 vessels, of which 41 are boxships, with a carrying capacity of 15.9 million dwt, and 247,764 TEU.