Quick look:
- NCL Vestland, a 1,300 TEU methanol-powered vessel, was launched in June 2024 with the goal of achieving carbon neutrality.
- Operated under a 15-year charter with NCL, supported by Elkem ASA and built by Taizhou Sanfu Shipbuilding.
- The methanol dual-fuel engine is expected to reduce energy consumption per TEU by more than 50%.
In June 2024, the launch of NCL Vestland marked a major milestone. She showed off a methanol-fueled vessel designed for carbon neutrality. This innovative 1,300 TEU ship was commissioned by MPC Container Ships (MPCC). In this way he promised to revolutionize maritime transport by significantly reducing carbon emissions.
NCL Vestland signs 15-year contract with NCL and Elkem ASA
North Sea Container Line AS (NCL) will operate the vessel under a 15-year time charter contract with Elkem ASA. Taizhou Sanfu Shipbuilding built the vessel and started the project in July 2022, demonstrating a successful collaboration between Norwegian Wilhelmsen Group and MPC Capital. MPCC predominantly owns the NCL Vestland with a 90.1% stake, while Topeka MPC Maritime AS owns the remaining 9.9%.
The NCL Vestland, scheduled for delivery in the second half of 2024, will operate with a dual-fuel methanol engine, marking a change from traditional diesel-powered vessels. This transition will improve energy efficiency and reduce energy consumption per TEU by more than 50%. Once operational, the NCL Vestland will replace three existing diesel-powered vessels in NCL's fleet, marking an important step towards sustainable shipping. The launch of Norway's first carbon-neutral service, planned as a future milestone, will underline the importance of the vessel in the maritime industry.
NCL orders world's first ammonia-powered ship by 2026
In 2024, NCL announced an order for the Yara Eyde, the world's first ammonia-powered container ship, scheduled for delivery in 2026. This innovative vessel is part of a collaborative effort between NCL, Yara Clean Ammonia, Yara International and CMB.tech . The Yara Eyde will operate on the route from Norway to Germany, setting new standards for green shipping. Additionally, she will highlight the potential of ammonia as a sustainable fuel alternative.
In June 2024, Chemanol signed a 20-year pivotal supply agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP), guaranteeing an annual supply of 100,000 metric tons of methanol. This agreement is part of the extensive Amiral project. In addition, it represents an investment of 11 billion dollars to improve Saudi Arabia's petrochemical production capabilities.
Amiral Project: $11 billion investment in Saudi petrochemicals
The project began construction in 2023 in the industrial city of Jubail, Eastern Province. Once completed and commercial operation begins in 2027, the Amiral project will have a production capacity of 1,650 kilotons of ethylene per year and a refinery capacity of 460,000 barrels per day of heavy Arabian crude oil. In addition, Chemanol and its partners will take advantage of waste gases, naphtha, ethane, methanol and light naphtha from the SATORP refinery and Saudi Aramco.
This strategic alignment supports TotalEnergies’ vision of sustainable development, yet the company continues to use cost-effective and environmentally friendly raw materials. Shareholders in the company include Saudi Aramco with 62.5% and TotalEnergies with 37.5%. Together, these developments represent significant strides in the maritime and petrochemical industries towards sustainability, leveraging advanced technologies and strategic partnerships to reduce environmental impact and improve operational efficiency.
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