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.
Tags: Eco-friendly, ORIX, Ships
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