In China on July 29, COSCO Shipping Development ordered four bulk carriers from Qingdao Beihai Shipbuilding, each designed with space reserved for either methanol or ammonia fuel systems. The ships will be leased long-term to COSCO Shipping Bulk and continue a cooperation first established in 2019 between the shipping group, Beihai, and CSSC Trading.
The vessels include a newly optimized hull form that reduces fuel consumption by approximately six percent compared to earlier designs. The ships also meet IMO’s Phase 3 Energy Efficiency Design Index standards.
The agreement is yuan-denominated and links upstream and downstream segments of China’s maritime sector, from construction to leasing to operation. It also contributes to the development of domestic capacity for alternative fuel readiness across large vessel classes.
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Category: Sustainable Marine Fuels
