Hafnia places maiden dual-fuel methanol newbuilding order

The order is the first for Hafnia for vessels equipped with engines capable of operating on methanol. Hafnia operates a fleet of 83 vessels.

The newbuilding order was placed in partnership with France-based shipowner Socatra, which previously announced orders for three methanol-fuelled chemical tanker newbuildings at CMJL Yangzhou earlier in 2023. The MR tanker newbuildings will enter into a long-term charter with TotalEnergies’ shipping subsidiary CSSA upon delivery. 

The first three vessels will be delivered in 2025 and the final vessel in the quartet will be delivered in 2026, the shipowner confirmed. 

Søren Steenberg Jensen, Head of Asset Management at Hafnia, commented, “Given the time it takes to build a vessel and the time it takes actually to start moving the needle on carbon emissions, it is important to act now and take proactive steps in decarbonising the maritime industry.” 

Søren states “It does, however, require partnerships with Charterers, to make the financials work. The cost of the new fuels’ technologies, if unsupported by long-term contracts, will have most owners refrain from taking the financial risk of the future fuel’s technology alone on otherwise already expensive assets.” 

Jerome Cousin, Senior Vice President of Shipping at TotalEnergies, says, “As the IMO just decided new ambitious targets to decarbonise shipping, TotalEnergies is mobilized to enable the development of low carbon shipping. The dual-fuel methanol propulsion of the chartered MR tankers will offer highly valuable fuel flexibility and the actual capability for TotalEnergies to steer the decarbonization of its shipping activity, in line with the Company’s ambition. We are also very pleased to expand the relationship with Hafnia, and its French partner Socatra to benefit from their expertise and deliver safe, low carbon, and efficient shipping services.”

Hafnia’s technical department have experience with specifying vessels with methanol as a fuel: the shipowner confirmed plans in 2020 to The Motorship to order dual-fuel methanol fuelled vessels with the intention of servicing Northwest Innovation Works’ methanol production facility in Washington State, prior to the project’s cancellation.