CMA CGM orders 6 methanol powered boxships
French shipping company CMA CGM has added six new duel-fuel methanol powered vessels and 10 duel-fuel LNG powered ships to its orderbook.
In its first quarter results statement, the firm said it expects the six 15,000 twenty foot equivalent unit (TEU) container ships to be delivered by the end of 2025. This is its first expansion into alternative marine fuels outside of LNG, which it has been pursing as an option since 2017. CMA CGM has a target of being carbon neutral by 2050.
It is investing in gas and methanol fuel because of the complimentary nature of these options, and has has recently looked into biofuels.
The 10 LNG-powered vessels will go towards CMA CGM's expectation to have 44 vessels powered by the alternative bunker fuel by the end of 2024. It already operates 22 LNG-fuelled ships and has supply agreements with TotalEnergies for 570,000 t/yr of LNG and with the Shanghai International Port Group (SIPG) for LNG bunkering services for 10 years.
LNG and methanol are under consideration by the maritime industry as low carbon alternatives, among others. Argus assessed methanol in Rotterdam, Europe's largest bunkering port, at a $46/t discount to very low sulphur fuel oil (VLSFO) on 1 June, and LNG delivered on barge in northwest Europe at a $229.5/t premium to VLSFO.
By Jonah Sweeney