COSCO Shipping has ordered two 325,000 dwt very large ore carriers (VLOCs) at its affiliated yard COSCO Yangzhou. According to Clarksons Research, the vessels will have methanol dual- fuel propulsion, will be shaft generator and scrubber fitted and are expected to deliver in 4Q 2026 and 2Q 2027.
COSCO is going hard after methanol as a future fuel. In September last year, COSCO, the world’s largest shipowner, teamed with three other Chinese state-run firms – State Power Investment Corporation Limited (SPIC), Shanghai International Port Group (SIPG), and China Certification & Inspection Group (CCIC) – to develop a green methanol industrial chain which will comprise the production, transportation, refuelling, and certification of green methanol for ships.
COSCO has ordered methanol dual fuel newbuilds in a variety of sectors including dry bulk, containers and tankers. Last month, it also contracted for a series of methanol engine retrofits on eight of its boxships.