J.P. Morgan Orders two Dua-Fuel Methanol Chemical Tankers in China

J.P. Morgan Global Alternative’s Global Transportation Group (JPMGTG), a division of J.P. Morgan Asset Management, has announced the order of two 49,800 deadweight dual-fuel methanol chemical IMOII Medium-Range (MR) newbuilds.

This order marks JPMGTG’s entry into the dual-fuel methanol space as it invests in new technologies that reduce greenhouse gas (GHG) emissions.

The vessels will be constructed at Guangzhou Shipyard International (GSI) in China and are scheduled for delivery in 2026. Both ships will be fixed on time-charter to TotalEnergies.

JPMGTG already has experience in investing in LNG dual-fuel vessels and sees this step into a new fuel type as an additional opportunity for green transportation. “We are excited to be expanding our footprint in a new fuel technology, in line with our GHG reduction investment orientation,” said Andrian Dacy, Global Head, J.P. Morgan Alternative’s Global Transportation Group.

The use of green methanol onboard these vessels significantly reduces pollutants, including Sox, NOx, and Particulate Matter (PM). Additionally, by capturing ambient CO2 in the production process, CO2 emissions are reduced by nearly 100% on a net-neutral emissions basis.

“In the midst of the rapid expansion of Methanol as a marine fuel, TotalEnergies is taking a significant step forward by introducing MR tankers propelled by dual fuel methanol technology into our time-chartered fleet,” said Jerome Cousin, Senior Vice President Shipping at TotalEnergies. “This initiative aligns with the Company’s commitment to reducing the carbon footprint of our shipping activity. With LNG as marine fuel already implemented on our larger size tankers, integrating Methanol in its lower GHG content form, will play a key role in steering the carbon emissions reduction across our fleet.”

Yangzijiang Shipbuilding

Most Popular