MOL Drybulk Ltd. and Kambara Kisen Co agree time charter for new methanol dual fuel bulk carrier

In Japan, Mitsui O.S.K. Lines, Ltd. announced that on September 11, 2023, its group company MOL Drybulk Ltd. and Kambara Kisen Co., Ltd. signed a basic agreement on time charter for a new building methanol dual fuel bulk carrier to be ordered and owned by Kambara Kisen. The vessel is slated to be delivered in 2027.

The vessel is designed to use e-methanol produced primarily by synthesizing recovered CO2 and hydrogen produced using renewable energy sources, and bio-methanol derived from biogas. The use of methanol derived from non-fossil raw materials significantly reduces GHG emissions(Note 2), compared to heavy oil-fueled and similar-size conventional vessels.

The vessel’s design maximizes cargo space while ensuring sufficient methanol tank capacity set to allow the required navigational distance assuming various routes, at the same time maximizing cargo space. The vessel is expected to serve mainly in the transport of biomass fuels from the east coast of North America to Europe and the U.K. and within the Pacific region, as well as grain from the east coast of South America and the U.S. Gulf Coast to Europe and the Far East.