Evergreen orders 24 metanol-powered container ships worth $5 billion

A container vessel of Evergreen (Photo: Evergreen)

According to Evergreen, the company has signed two contracts with a total investment of $5 billion for the new methanol dual-fuel containerships. Brokers reported in April 2023 that the company had initiated the bidding process to find top shipyards for the new type of container ship.

Samsung Heavy Industries has received the majority of the order, with a total of 16 container ships. Each ship will have a capacity of 16,000 TEUs with costs ranging from $180 million to $210 million per vessel. Delivery is estimated to begin in 2026 based on the available building slots at the yard. The contract with the South Korean shipyard is valued at $2.88 billion to $3.36 billion.

The capabilities of the shipyards are believed to be the reason why Evergreen decided to divide the order among multiple shipyards. The second contract was signed with Japan’s Nihon Shipyard Co. They will build an additional eight ships with a capacity of 16,000 TEUs and the same cost per vessel. The value of this second contract ranges from $1.44 billion to $1.68 billion.

Metanol is increasingly being chosen as an alternative fuel for new container ships. These new vessels are expected to be deployed on the Asia-Europe routes to meet the environmental regulations and requirements set for European ports and transportation.

Read more:

• Shipping industry faces challenges from climate change
• Maersk orders six more methanol-fueled container vessels

Source: Phaata.com (According to Safety4sea)

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