Monday, February 26, 2024
Maritime Propulsion

April 3, 2023

J. Lauritzen Orders Two Methanol Dual-fuel Bulk Carriers

(Image: J. Lauritzen)

Danish shipping company J. Lauritzen said it signed letter of intent for construction of minimum two methanol dual-fuel 81,200 dwt Kamsarmax bulk carriers, which will be built by Tsuneishi Shipbuilding, Japan, and be capable of trading with zero carbon emissions when powered by green methanol, and biodiesel.

The vessels will be among the very first zero emission capable bulk carriers in the world, and they will be fully owned by a newly established entity named “Lauritzen NexGen Shipping” which J. Lauritzen and Lauritzen Bulkers will use as a platform for further investments in zero carbon emission and future proof assets for the shipping industry.

The vessels are ordered in a partnership with Cargill, who will be operating the vessels for a minimum period of seven years.

“We are very happy with this transaction, as it is important for J. Lauritzen and Lauritzen Bulkers to participate actively in the decarbonization of the shipping industry, and we are proud to be able to do so in a visionary partnership with Cargill, who are sharing our ambition to truly drive change in our industry,” said Kristian Morch, CEO of J. Lauritzen.

“It is great to see reputable companies like J. Lauritzen joining the decarbonization journey with such a bold step,” said Jan Dieleman, Cargill’s president of Ocean Transportation. He added that “we look forward to partnering with them to help move the industry forward in the zero-carbon fuel space”.

The partnership is facilitated by Copenhagen Commercial Platform (CCP), who will also be involved in operating and further developing the partnership.