Evergreen Marine Corp is looking at methanol dual-fuel solutions for its next mega-size container ship newbuildings.
Shipbuilding sources say the Taiwanese liner company has launched a request for offers to build a series of 11 methanol dual-fuelled 24,000-teu container ships as part of its ongoing decarbonisation efforts.
Evergreen is said to have approached at least six shipyards for quotes.
Newbuilding brokers estimate the ships will cost more than $250m each, totalling over $2.75bn.
The shipbuilders mentioned are China’s Jiangnan Shipyard and Hudong-Zhonghua Shipbuilding, Japan’s Imabari Shipbuilding and South Korea’s Hanwha Ocean, Samsung Heavy Industries and HD Hyundai Heavy Industries.
One newbuilding broker said he was surprised that Evergreen wants to order the 24,000-teu vessels as he thought most liner companies are “done with ordering” mega-size boxships.
He said the last order for 24,000-teu container ships was penned more than a year ago by CMA CGM.
The French company ordered 10 LNG dual-fuelled ships at Yangzijiang Shipbuilding for around $240m each.
However, MSC Mediterranean Shipping Company recently ordered a large number of 21,000-teu newbuildings at Chinese shipyards — 10 each at Hengli Heavy Industry and Jiangsu Hantong Group. These vessels are LNG dual-fuelled.
Fuelling choice
Evergreen’s decision to use methanol as the fuel for its latest newbuilding project surprised some industry observers, especially as other major liner companies, including methanol pioneer AP Moller-Maersk, have recently been shifting towards LNG.
The fear of a methanol supply shortage led to some companies changing their fuel choice.
Brokers note that the shipyards approached by the liner company are sitting on fat orderbooks and can only offer 2028 and 2029 delivery dates.
Evergreen’s spokesperson said the company does not comment on market rumours.
If Evergreen is to conclude the 11-ship order, it would be the second newbuilding contract the company has signed this year.
In June, it signed a contract with CSSC Huangpu Wenchong Shipbuilding to build six 2,400-teu, methanol dual-fuelled vessels.
These feeder-size boxships are scheduled to be delivered in 2027 and 2028.
The company valued the cost at between $52m and $58m each.
Evergreen currently has 12 scrubber-fitted mega-size container ships in service and is scheduled to take delivery of one further newbuilding from Hudong-Zhonghua in March 2025, according to Clarksons’ data.
The Hudong-Zhonghua newbuildings were ordered in March 2022 at between $160m and $190m per ship.
Clarksons shows Evergreen to have 55 newbuildings on order, of which 30 will be methanol dual-fuelled.
The company is working with several partners, such as Shanghai International Port Group and Dutch fuel supplier OCI Global, to secure the supply of green methanol for these ships.
