NYK finalizes construction and charter deals for methanol-powered VLCC

Japanese shipping company NYK has executed construction and charter contracts for its first methanol-powered very large crude carrier (VLCC).

The vessel, which will be NYK’s first VLCC that can use methanol or traditional fuel oil for propulsion, will be constructed by Nihon Shipyard and deployed on a long-term charter with Idemitsu Tanker.

The 310,000 dwt VLCC will be equipped with a dual-fuel methanol main engine and a large shaft generator.

Scheduled for delivery in 2028, the 339.5-meter vessel will be built based on a Malacca Max next-generation environmentally friendly VLCC design developed by NYK in collaboration with Idemitsu Tanker, IINO Kaiun Kaisha, and Nippon Shipyard.

The Japanese companies teamed up in January 2024 for the joint research and development project to design and build an eco-friendly VLCC, targeting up to 40% reduction in greenhouse gas (GHG) emissions.

The design concept for what was described as Japan’s first Malacca Max-type VLCC that can run on methanol as an alternative fuel was revealed in October 2024.