Financial services firm JP Morgan has ordered two advanced tankers that can run on methanol fuel from Guangzhou Shipbuilding International of China. These vessels are destined to be time chartered by energy major TotalEnergies.
While crude oil will be needed to make fuels for some time to come, many traditional oil majors like TotalEnergies are already trying to reduce the emission intensity related to the production and transport of oil and gas. Compared to conventional marine fuels, using green methanol as an on-board fuel almost entirely eliminates the vessels’ carbon emissions on a tank-to-wake basis, while also achieving a 60% cut in NOx emissions and a 100% cut in SOx and particulate matter emissions. The vessels will have a duel-fuel design, so they will be able to run on conventional marine fuels when bunkering operations are unable to supply methanol.
The tankers, which should be delivered in 2026, will have 50,000 deadweight tons (dwt) of capacity and are estimated to cost $50 million each. This reflects the growing prominence of green methanol as a potential way to decarbonise the marine shipping sector. For example, tanker operator Hafnia of Singapore recently ordered four dual-fuel methanol chemical tankers with a capacity of 49,800 dwt, with this again being time chartered by TotalEnergies for multiple years.
Here at TrAchem, we’re proud to offer TotalEngergies’ lubricant and coolant products, such as Total Equivis and Total Azolla, so consult with our expert team to see if Total products can benefit your operations.