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Low Emission Methanol-Fueled Chemical Tanker Delivered

Tokyo, Japan - Nippon Yusen Kaisha (NYK Group) is proud to announce the delivery of Takaroa Sun, a methanol carrier equipped with two-stroke dual-fuel engine technology that enables the vessel to be powered by methanol. Built in South Korea at Hyundai MIPO Dockyard, the new ship was funded through NYK’s green financing initiative established to support environment-friendly projects.

Takaroa Sun was constructed with the MAN Energy Solutions second-generation B&W ME-LGIM two-stroke dual-fuel engine that runs on both methanol and conventional marine fuel. The vessel will be chartered to Waterfront Shipping Company Limited (WFS), a wholly-owned subsidiary of Methanex Corporation, the world’s largest producer and supplier of methanol, in a long-term time-charter agreement between WFS and NYK Bulkship (Asia) Pte. Ltd., an NYK Group company based in Singapore.

“We are delighted to establish this relationship with WFS, which has expertise in methanol shipping, and we welcome our first methanol-fueled vessel into our fleet. Making use of the NYK Group’s attentive, safety-focused vessel management featuring advanced, new technology, we plan to fully meet the expectations of WFS. We will continue to transport cargo for customers around the world by corresponding to individual demands and strengthening our knowledge of new technologies,” said Takeshi Kishi, managing director of NYK Bulkship (Asia) Pte. Ltd.

As a marine fuel, methanol is safe, biodegradable, and clean-burning, offering compliance with the International Maritime Organization’s (IMO) 2020 regulations by reducing sulphur oxides (SOx) by approximately 99 percent. With the ability to be produced from renewable sources, methanol can also provide a pathway to meeting future carbon emission reduction targets. The vessel also has a processor that reduces nitrogen oxides (NOx) so that they meet the IMO’s stringent Tier III regulation.

“We are very pleased with the performance of our existing methanol-fueled vessels that have proven the safety and reliability of the technology. With the delivery of Takaroa Sun, we are continuing to benefit from innovative technological advances that will optimize performance and efficiency,” says Paul Hexter, President, Waterfront Shipping Ltd. “On an energy-equivalent basis, methanol is cost-competitive over the cycle and we see significant value creation opportunities from using a methanol flex-fuel engine.”

The NYK Group will continue to secure business with stable freight rates through long-term contracts. The company is committed to realizing a sustainable society that will make use of technology that reduces negative impacts on the environment.

Takaroa Sun Vessel Particulars
Deadweight tonnage: 49,000 tons
Length overall: 183 meters
Breadth: 32.2 meters
Shipbuilder: Hyundai Mipo Dockyard
Flag: NIS (Norwegian International Ship Register)

About NYK Group

Nippon Yusen Kabushiki Kaisha (NYK) was founded in 1885 and is one of the world's leading transportation companies. At the end of March 2019, the NYK Group was operating 792 major ocean vessels, as well as fleets of planes and trucks. The company's shipping fleet includes 357 bulk carriers, 118 car carriers, 63 containerships (including semi-containerships), 75 LNG carriers (including those owned by equity method affiliates), 56 tankers, 44 wood-chip carriers, one cruise ship, and 78 other ships (including shuttle tankers and multipurpose and project cargo vessels). The NYK Group is based in Tokyo, employs about 36,000 people worldwide, and has regional headquarters in London, New York / New Jersey, Singapore, and Shanghai.

The NYK Group is dedicated to achieving the SDGs through the group’s business activities and its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” and this low carbonization of marine fuel is one of the group’s initiatives.

About Waterfront Shipping Company Limited

Waterfront Shipping, a wholly-owned subsidiary of Methanex Corporation, is a global marine transportation company specializing in the safe, responsible, and reliable transport of bulk chemicals and clean petroleum products to major international markets in North America, Asia Pacific, Europe, and Latin America. Waterfront Shipping operates the world's largest methanol ocean tanker fleet with its fleet comprising vessels from 3,000 to 50,000 dwt. Its fleet of 30 modern, deep-sea tankers forms a seamless transportation network dedicated to keeping an uninterrupted flow of methanol moving to storage terminals and customers' plant sites around the world.

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