Trafigura charters in methanol-fueled merchandise tanker

Trafigura is to time constitution third-generation methanol dual-fuel merchandise tanker Mari Innovator [Image: Waterfront Shipping]

Methanol, whether or not inexperienced or not, continues to make inroads as a marine gas. Now Waterfront Shipping, a subsidiary of Methanex, the world’s largest producer and provider of methanol, has entered right into a time-charter settlement with Trafigura, one of many world’s largest bodily commodity buying and selling teams and ship charterers. Under the settlement, Trafigura will function the methanol dual-fueled medium-range product tanker, Mari Innovator, co-owned by Waterfront Shipping and Clean Sea, as a part of its world community of vessels used on clear merchandise buying and selling routes.

“We’re pleased to partner with Trafigura to share our global experience and knowledge with operating and bunkering vessels using methanol fuel technology,” mentioned Paul Hexter, President of Waterfront Shipping. “Trafigura plays a vital leadership role in the energy transition and for it to recognize that methanol marine fuel offers a clear pathway towards a low carbon shipping industry will help build the platform to drive change.”

Waterfront Shipping is the world’s largest operator of methanol dual-fuel vessels and has gathered over 123,000 working hours utilizing methanol as a marine gas. Today, Waterfront Shipping has 18 methanol dual-fuel vessels, with one further vessel arriving by the spring of 2023, representing roughly 60% of its 30-vessel fleet.

Trafigura’s transport and chartering operations are managed from key regional hubs in Athens, Geneva, Houston, Lima, Montevideo and Singapore, offering 24/7 protection of freight and bodily commodity markets.

“We’re advocating for industry-wide action on shipping emissions and investing in new technologies and vessels to help achieve a more sustainable shipping industry,” mentioned Andrea Olivi, head of moist freight for Trafigura. “We’re excited about the cooperation with Waterfront Shipping and Clean Sea as we explore and learn also how methanol technology can integrate with our fleet to achieve our carbon intensity reduction goal of 25% by 2030 across our entire chartering operation.”

Modi Mano, CEO at Clean Sea Transport, mentioned, “The Mari Innovator is our third-generation dual-fuel vessel and offers a number of advantages to Trafigura including the flexibility to diversify fuel options or consume methanol for potential cost savings. It is equipped with the latest technological innovations and fuel consumption is particularly low for a medium-range tanker.”