South  Korean carrier HMM has announced that it has signed newbuilding contracts with Hyundai SamhoHeavy Industries(HSHI) and HJ Shipbuilding and Construction(HJSC) for nine 9,000 TEU containerships powered by methanol dual-fuel engines. In doing so, HMM has joined the ranks of global shipping lines ordering methanol-fuelled container vessels in contracts valued at more than US$1 billion.

Last July, HMM unveiled a mid-to-long-term strategy to leap forward to be a global top-rated shipping and logistics company through enhancing fleet competitiveness. With the order of methanol-powered containerships, HMM has taken an initial step toward expanding its eco-friendly fleet using alternative fuels.

Methanol significantly reduces greenhouse gas emissions compared to conventional oil-based fuels, bringing an immediate improvement in air quality around ports and shipping lanes. Sulphur oxides (SOx) and particulate matter emissions are virtually eliminated and nitrogen oxides (NOx) emissions are cut by 80%. Furthermore, methanol’s biodegradable and water-soluble qualities significantly reduce the risk to marine environments.

Under the agreement, HSHI and HJSC will build seven and two vessels respectively. The ships are scheduled to be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes, with expected delivery from 2025 to 2026. Green shipping corridors between Busan in Korea and key ports in the U.S. are also one of the potential routes to operate the new ships.

In addition, HMM has signed a Memorandum of Understanding (MoU) with five fuel suppliers, including Proman, PTTEP, European Energy, Hyundai Corporation and so on, to secure the supply of methanol for its newly-ordered vessels.

HMM will conduct a feasibility study with each partner to procure various types of methanol in its main bunkering ports and, subsequently, will collaborate to produce green methanol as part of developing carbon-neutral fuels.

 (Photo from HMM)