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Additional Methanol-fueled Ship Contract Anticipated

Maersk, which signed a methanol-fueled ship contract with Korea Shipbuilding & Offshore Engineering last year, is expected to order more ships of that type, which have a price of more than 200 billion won each.

The contract signed last year is to build 12 methanol-fueled container carriers, about 16,000 TEU each. Maersk is in talks with Korea Shipbuilding & Offshore Engineering, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries for the additional contract.

The new contract depends on when the new ships should be delivered,” said an industry source, adding, “The three shipbuilders’ backlogs are already full for two to three years and the delivery to Maersk is likely to be in 2025 or 2026.”
The average price of methanol-fueled ships was US$175 million when the contract was signed last year. The price to be applied to the new contract is estimated at US$183 million. The new contract is likely to be for 12 ships including four to six options similarly to last year’s contract.
Source: Business Korea

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