Friday, December 13, 2013

Waterfront Shipping makes deal for 6 new tankers that run on methanol

Waterfront Shipping Company, a subsidiary of Methanex Corporation, has inked an agreement to charter six new 55,000-ton tankers that can run on methanol, fuel oil, marine diesel or gas oil, with an option for three more. 

Mitsui O.S.K. Lines, Westfal-Larsen and Company, and Marinvest/Skagerrak Invest will each own two of the vessels being built, plus one optional vessel each.

The new vessels will replace aging ships in Waterfront’s fleet and support increased demand from Methanex Corporation’s growth initiatives. Methanex, a major supplier of methanol to international markets, said it plans to move two methanol plants from Chile to Geismar, Louisiana.

The six ships, which will be built by B.C. Hyundai Mipo Dockyard and Minaminippon Shipbuilding, are scheduled for delivery in 2016.

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