Ocean Network Express (ONE) has supercharged an order for methanol-fuelled newbuildings at a time of intense investment in new container ships.
It has returned to China’s Jiangnan Shipyard and Yangzijiang Shipbuilding to place orders for 10 extra methanol dual-fuel 13,000-teu container ships.
Singapore-based ONE has doubled down on methanol at a time when other major shipowners, most notably pioneer AP Moller-Maersk, are turning to LNG.
Shipbuilding sources said ONE, which contracted six of the vessel type at each shipyard earlier this year, has added five ships to the original deals.
Sources said ONE’s latest five-ship deal at Yangzijiang were optional vessels, while the five ships at Jiangnan had been newly contracted.
ONE now has 11 ships being built at each yard, TradeWinds understands.
The shipowner declined to comment on newbuilding orders outside of public statements when contacted by TradeWinds.
ONE has said the orders represent its “inaugural fleet” of methanol-fuelled vessels that will play a key role in meeting sustainability goals.
However, it did not rule out following rivals with orders for LNG-fuelled ships, noting it is “continually exploring various alternative fuel options”.
Officials at Jiangnan and Yangzijiang declined to comment when contacted by TradeWinds.
The price for ONE’s latest container ships has not been disclosed. But the container line was reported to be paying just shy of $170m each for the boxships it penned in January.
Jiangnan is scheduled to deliver the first vessel to ONE in late 2026 and the other 10 in 2027 and 2028.
Jiangsu-based Yangzijiang is slated to deliver its vessels in 2027 and 2028.
ONE’s newbuildings at Jiangnan and Yangzijiang will include an optimised hull form, waste heat recovery systems and a bow windshield.
Some vessels will also be equipped with an air lubrication system and shaft generator to help explore enhancements in fuel efficiency and the reduction of greenhouse gas emissions.
The innovations aim to accelerate decarbonisation efforts and ensure compliance with regulations.
ONE also has 20 neo-panamax container ships being built in Japan and South Korea.
Imabari Shipbuilding is constructing 15 vessels of 13,700-teu while HD Hyundai Heavy Industries is building five ships of the same size.
These conventionally fuelled vessels were ordered in 2022 and 2023. They are methanol and ammonia-ready and will be equipped with a bow cover and other energy-saving technologies.
ONE said it was actively discussing with various stakeholders how it would source the methanol to power its ships.
Imabari and HHI are scheduled to deliver the vessels in 2025 and 2026.
Methanol fuelling has been the preferred choice for alternatively fuelled newbuildings contracted in 2023.
However, concerns about the availability of green methanol and its cost are driving shipping companies to reconsider.
Methanol’s largest advocate, Maersk, is said to be turning to LNG fuelling for its latest batch of newbuildings.
The liner giant was reported to have long-term chartered five LNG dual-fuel 16,000-teu newbuildings from both SFL Corp and Seaspan Corp. The company has also approached shipyards for a raft of similar vessels on its own account.
