In Korea, Global Economic reports on July 2, HJ Heavy Industries of South Korea secured a $460 million contract from Greece-based Navios Maritime Partners for four methanol-ready 8,000 TEU container ships, with two firm orders and two options, marking the shipbuilder’s continued return to the commercial market.
The vessels will begin service using conventional fuel but are designed for future conversion to methanol. The order reflects ongoing interest in flexible propulsion systems as global shipping faces pressure to cut emissions. The agreement follows an earlier deal in 2021, when Navios ordered six dual-fuel container ships from HJ.
The contract was reported by TradeWinds, which said Navios, led by Angeliki Frangou, is finalizing the order with HJ’s yard in Busan. Market sources estimate the price at around $110 million per ship, with deliveries expected between 2026 and 2027.
Navios operates a fleet of 179 vessels and has been retiring older tonnage while introducing newbuilds that meet evolving fuel standards. The methanol-ready design allows for future retrofitting without a full redesign, offering owners a hedge as the industry tests alternatives to oil-based marine fuels.
More on the story.
Category: Sustainable Marine Fuels
