Taiwanese shipping company Wan Hai Lines has placed an order for up to twenty methanol dual-fuel container vessels at South Korean and Taiwanese shipyards, according to Offshore Energy.
As disclosed, the company signed a letter of intent (LOI) for twelve methanol dual-fuel container vessels on behalf of Wan Hai Lines (Singapore) on August 12, 2024. The ships will have a capacity of around 8,000 TEU.
The LOI includes purchase options for four units, Wan Hai revealed in a stock exchange filing.
To be constructed by CSBC Corporation in Taiwan, the ships will cost between $102.5 million and $124 million per unit. The total transaction price will be between $1.23 billion and $1.984 billion.
What is more, the company signed another LOI for four 8,700 TEU methanol dual-fuel boxships on behalf on August 12.
The units will be built at HD Hyundai Samho shipyard in South Korea and Wan Hai will pay $113.5 million to $130.41 million per vessel. The total transaction is estimated at $454 million-521.64 million.
This is the first time Wan Hai has ordered vessels with dual-fuel propulsion, opting for methanol as marine fuel. With this move, Wan Hai followed in the footsteps of its counterparts such as Maersk, Ocean Network Express (ONE) and Evergreen Marine.