• 2019 August 21 16:41

    Waterfront Shipping and Marinvest welcome second-generation low emission methanol-fuelled vessels

    Waterfront Shipping Company Ltd., a wholly owned subsidiary of Methanex Corporation, and Marinvest/Skagerack Invest (Marinvest) to welcome two new innovative, clean-burning vessels, M/T Mari Couva and M/T Mari Kokako, to the Waterfront Shipping fleet.

    These 49,000 dwt vessels are built with the second generation of MAN B&W ME-LGIM two stroke dual-fuel engines that can run on both methanol and conventional marine fuels. The vessels join the seven existing methanol-fuelled vessels chartered by Waterfront Shipping that have received accolades from the marine industry for their use of methanol as an alternative fuel. These existing vessels have surpassed more than 50,000 operating hours running on methanol in compliance with IMO 2020 emissions regulations. The two new vessels – together with an additional two vessels that will be delivered to Waterfront Shipping by year-end – are also able to meet IMO Tier III emissions standards without the need for exhaust gas after treatment.

    Methanol is one of the world’s most widely traded chemicals and is available globally at major ports, providing a cost-effective solution to meet the needs of shipowners today. Safe, biodegradable and clean-burning, methanol is a marine fuel that can meet the most stringent environmental regulations. In addition to IMO 2020-compliant SOx emissions and the ability to meet Tier III NOx regulations without exhaust aftertreatment, methanol can also provide a pathway to meeting future carbon emission reduction targets when it is produced from renewable sources.

    The two new vessels, a joint venture between Waterfront Shipping and Marinvest, were built in Korea at Hyundai Mipo Dockyard. Waterfront Shipping will charter the two vessels to replace older vessels. A further two vessels, also powered by methanol, will be delivered to Waterfront Shipping before the end of 2019.

    About Waterfront Shipping

    Waterfront Shipping, a wholly owned subsidiary of Methanex Corporation, is a global marine transportation company specializing in the safe, responsible and reliable transport of bulk chemicals and clean petroleum products to major international markets in North America, Asia Pacific, Europe and Latin America. Waterfront Shipping operates the world's largest methanol ocean tanker fleet with its fleet comprising vessels from 3,000 to 50,000 dead weight tonnes. Its fleet of 28 modern, deep sea tankers forms a seamless transportation network dedicated to keeping an uninterrupted flow of methanol moving to storage terminals and customers' plant sites around the world.

    About Methanex Corporation

    Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Market in the United States under the trading symbol "MEOH”.

    About Marinvest/Skagerack Invest

    Marinvest is a private shipping and investment group, part owners and managers of product and chemical tankers. Holdings include investments in tankers of about 80,000 dwt, chemical tankers between 20,000 to 50,000 dwt, a developing coastal shipping company and real estate.

    About MAN Energy Solutions & the MG-LGIM Engine

    MAN Energy Solutions developed the ME-LGIM dual-fuel engine for operation on methanol, heavy fuel oil (HFO), marine diesel oil (MDO) or marine gas oil (MGO). The engine is based on the company’s proven ME series, with approximately 5,000 engines in service, and works according to the diesel principle as methanol is a low-flashpoint, liquid fuel. When operating on methanol, the ME-LGI uses HFO, MDO or MGO as a pilot fuel, significantly reduces emissions of CO2, NOx and SOx, and does not have any methane slip. Additionally, any operational switch between methanol and other fuels is seamless. Tests on the engine, when running on methanol, have recorded the same or a slightly better efficiency compared to conventional HFO-burning engines. MAN developed the ME-LGI engine concept in response to interest from the shipping world to operate on alternatives to heavy fuel oil. Methanol carriers have operated at sea for many years. With a viable, convenient and economic fuel already on-board, exploiting a fraction of the cargo to power a vessel makes sense with another important factor being the benefit to the environment.




2019 September 21

16:17 USCG responds to breakaway barges striking I-10 San Jacinto River bridge
15:14 Eastern Shipbuilding launches the C.D WHITE for E.N. Bisso & Son
14:06 Boskalis associate Smit Lamnalco signs first 10-year terminal services contract in Mozambique
12:52 Kongsberg wins first full-scope expedition cruise vessel tender, with gensets and propulsion equipment
11:34 Rauma Shipyard bags Finnish Navy's four corvettes order

2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points
08:58 MABUX: Bunker Market this morning, Sept 20

2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019
14:31 North Pole ice-resistant platform presented by Admiralteiskie Verfi at NEVA 2019
14:09 ABS announces LNG Cargo Ready notation for ethane carriers at Gastech 2019
13:46 Hyundai Heavy Industries receives AIP for new LPG carrier design
13:03 Bunker prices go up at the Far East ports of Russia (graph)
12:40 ABS and AEC сollaborate on newbuild VLEC fleet
12:17 Murmansk Sea Fishing Port handled 171,200 tonnes of cargo in 8M’2019, down 28.5% Y-o-Y
11:58 PortNews-TV offers video on naming ceremony for PortNews tanker
11:36 International symposium on Anthropogenic Underwater Noise held in Hamburg on 10 September
11:09 LR awards DSME AiP for 98,000 m3 VLEC design with High MnA steel tank
10:42 Ships of RF Navy’s Caspian flotilla take part in Tsentr 2019 maneuvers
10:09 Singapore and Panama ink MoU to strengthen maritime relations
09:51 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.33% to $58.23
09:49 MABUX: Bunker market this morning, Sept 19
09:33 Baltic Dry Index is down to 2,266 points
09:18 ABS grants AIP for two next generation gas carrier designs

2019 September 18

18:26 SGRE confirmed member of the Dow Jones Sustainability Indices in 2019
18:03 MOL repays existing loans through issuance of project bond for FPSO charter project