Pacific Basin Shipping Limited has ordered a total of four 64,000 dwt dual-fuel low-emission vessels ("LEVs") capable of running on both green methanol as well as fuel oil, according to the company's release.
Two of the vessels are contracted jointly with Nihon Shipyard Co. and Imabari Shipbuilding Co., Ltd. for delivery in 2028 and 2029, and two are contracted with Mitsui & Co. for delivery in 2028 and 2029. The vessels are all to be built by Nihon Shipyard Co. and are of a new design optimised for fuel economy with the newest and most efficient engines as well as extra upgrades to further enhance the vessels' operational capabilities and safety features.
The LEVs' dual-fuel engines make them capable of running on both conventional fuel oil and biofuel as well as green methanol which, when produced using sustainable feedstocks and renewable energy, will generate emissions that can be classified as "low carbon" or even "net zero" on a lifecycle basis.
Pacific Basin has also entered into a memorandum of understanding with Mitsui & Co. dated 28 November 2024 that will give the company access to volumes of green methanol that will enable the LEVs (and, through emissions pooling, other conventionally-fuelled Pacific Basin vessels) to comply with and even benefit from coming FuelEU Maritime rules and expected IMO global greenhouse gas fuel standard rules.
The company is in dialogue with several green fuel suppliers and producers to develop its access to bio-methanol and e- methanol, as well as biofuel (biodiesel).
Pacific Basin Shipping Limited is one of the world's leading owners and operators of modern Handysize and Supramax dry bulk vessels. The company operates over 280 dry bulk vessels of which 113 are owned and the rest chartered. Pacific Basin is listed and headquartered in Hong Kong and provides quality services to over 460 customers, with over 4,500 seafarers and 400 shore-based staff in 14 offices in key locations around the world.