ORIX orders 3 next-gen eco-friendly ships

In Japan, ORIX Corporation announced an order for three environmentally friendly ships, including two methanol dual-fuel bulk carriers. The new vessels comply with the International Maritime Organization’s reinforced greenhouse gas reduction targets and meet the Energy Efficiency Design Index Phase 3 standards, which come into effect in 2025.

This order represents ORIX’s first foray into methanol-fueled shipping. The methanol dual-fuel Kamsarmax vessels, capable of using both methanol and heavy oil, promise to cut CO2 emissions by approximately 15% and sulfur oxides by around 95% compared to conventional ships. Future use of green methanol, produced from renewable hydrogen and CO2, could make their operations virtually carbon-neutral.  Kamsarmax vessels typically haul dry bulk commodities such as iron ore and bauxite.

Since entering ship leasing in 1971 and ownership in the 1980s, ORIX has become a leader in ship financing, management, operations, and brokerage, serving both Japanese and international shipping companies. ORIX acquired shipping company Santoku Senpaku with their fleet of 67 ships in February 2024.