Japanese shipbuilder Tsuneishi Shipbuilding has secured a new order from ORIX Corporation, a financial services company, to construct two methanol dual-fuel Kamsarmax bulk carriers.
On July 8, ORIX announced the shipbuilding contract, marking the first time the company has ordered methanol-fueled ships. Additionally, ORIX has ordered one bulk carrier from Oshima Shipbuilding.
The methanol dual-fuel Kamsarmax bulk carriers will be built at Tsuneishi Group’s Zhoushan shipyard. According to ORIX, these ships will emit approximately 15% less CO2 and reduce sulfur oxide emissions by about 95% compared to conventional ships built by the Japanese shipyard.
Oshima Shipbuilding will construct the third bulk carrier at its Koyagi shipyard.
All three ships will comply with EEDI Phase 3, which mandates a 30% reduction from the standard value for new vessels starting in 2025. ORIX expects this compliance to significantly lower the environmental impact.
In February 2024, ORIX acquired all issued shares of shipping company Santoku Senpaku, aiming to expand asset management services for ships owned by third parties and contribute to the maritime industry’s decarbonization by gaining expertise in managing environmentally friendly ships, including methanol-fueled ships.
This latest contract adds to Tsuneishi Shipbuilding’s order book, which already includes methanol dual-fuel Kamsarmax dry bulk vessels and methanol-fueled containerships.
The Japanese shipbuilder aims to exclusively produce dual-fueled vessels by 2035, transitioning away from ships equipped with crude oil-based engines.