COSCO Shipping commissions DSIC for six LNG/methanol-ready tankers

Chinese state-owned maritime transport giant COSCO Shipping has tapped compatriot vessel construction player Dalian Shipbuilding Industry (DSIC), part of China State Shipbuilding Corporation (CSSC), for a sextet of alternative fuel-ready tankers.

According to Greek shipbroker Intermodal, COSCO Shipping is expected to cash out $119.1 million for each of the six 307,000 dwt tankers. Once completed, DSIC plans to hand over the ships to COSCO between 2027 and 2028.

As disclosed, the vessels are going to be sent off to the Chinese maritime transport company with liquefied natural gas (LNG)- and methanol-ready specifications.

Owing to LNG, the most mature and most widely available alternative fuel at the moment, the tankers are expected to accomplish a 25-30% reduction in carbon dioxide (CO2) emissions. LNG could also enable the vessels to cut other pollutants, including sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter (PM).

Similarly, if converted to run on methanol—which has, together with ammonia, gained increased interest from maritime stakeholders—the ships could cut SOx emissions by up to 99%, NOx emissions by 80%