HD Hyundai Heavy Industries delivered the world’s first methanol dual-fuel very large crude carrier (VLCC) this week. The 300,000 DWT vessel represents a major milestone in decarbonizing the tanker sector.
Technical Specifications
The tanker features MAN Energy Solutions ME-LGIM engines capable of running on conventional fuel oil or green methanol. Methanol tanks provide range for typical Middle East to Asia voyages without bunkering stops.
Why Methanol
Methanol offers practical advantages over other alternative fuels. It’s liquid at ambient temperature, simplifying storage and handling. Existing port infrastructure can be adapted relatively easily. Green methanol produced from renewable sources achieves near-zero lifecycle emissions.
Cost Premium
The dual-fuel VLCC cost approximately $130 million, about 20% more than a conventional newbuild. Charterers with decarbonization commitments are willing to pay premium rates for lower-emission vessels.
Industry analysts expect 15% of tanker newbuild orders in 2025 to specify alternative fuel capability.
