J.P. Morgan Global Alternative’s Global Transportation Group (“JPMGTG”) (is pleased to announce that institutional investors advised by JPMGTG have concluded an order for two 49,800 deadweight dual-fuel Methanol Chemical IMOII Medium-Range (MR) Newbuilds, to be constructed at Guangzhou Shipyard International (GSI), in China.
Both vessels are scheduled to be delivered in 2026 and will be fixed on time-charter to TotalEnergies.
In line with its commitment to invest in new, leading edge, technologies, with a key focus on reducing GHG emissions, the new order is JPMGTG’s first in the dual fuel methanol space. JPMGTG already has experience in investing in LNG dual fuel vessels and this step into a new fuel type will enable it to set up an additional vector of green transportation.
Growing momentum in methanol-fueled vessels across other sectors such as containerships and dry bulk vessels continues to demonstrate the growing industry view that green methanol is set to become a game changer in the pursuit of net zero targets.
The use of green methanol onboard dramatically reduces pollutants, including Sox, NOx and Particulate Matter (PM), and capturing ambient CO2 in the production process reduces CO2 emissions by nearly 100% on a net-neutral emissions basis.
Andrian Dacy, Global Head, of J.P. Morgan Alternative’s Global Transportation Group commented: “We are excited to be expanding our footprint in a new fuel technology, in line with our GHG reduction investment orientation. We are also pleased to have expanded our partnership with Total Energies, with whom we have developed a range of initiatives across a number of transportation segments. We look forward to working together in supporting TotalEnergie’s global commitment to a clean energy future.”
Jerome Cousin, Senior Vice President Shipping at TotalEnergies, said: “In the midst of the rapid expansion of Methanol as a marine fuel, TotalEnergies is taking a significant step forward by introducing MR tankers propelled by dual fuel methanol technology into our time-chartered fleet. This initiative aligns with the Company’s commitment to reducing the carbon footprint of our shipping activity. With LNG as marine fuel already implemented on our larger size tankers, integrating Methanol in its lower GHG content form, will play a key role in steering the carbon emissions reduction across our fleet.
“We are delighted to extend our enduring partnership with JP Morgan GTG, a like-minded ally dedicated to advancing low-carbon shipping solutions.”
Source: Hellenic Shipping News
