On June 20th, witnessed by leaders of various government agencies in Shandong Province, Beihai Shipbuilding and Shandong Marine Group jointly signed the Construction Agreement for Ten 325,000 DWT Methanol Dual-Fuel New-Type Ore Carriers and the Strategic Cooperation Framework Agreement.
Regarding this cooperation, Beihai Shipbuilding and Shandong Marine Group stated that the two sides will further promote business linkage, and promote the two sides to achieve co-creation of value, win-win future, and promote development in broader fields and deeper dimensions, to build a highland for the development of modern marine industry.
It is understood that this new shipbuilding project marks the third cooperation between Beihai Shipbuilding and Shandong Marine Group on 325,000 DWT methanol dual-fuel Very Large Ore Carriers (VLOCs). So far, the number of cooperative vessels of this type between the two sides has increased to 16.
In December 2023, Beihai Shipbuilding and Shandong Marine Group signed a contract to build four GuaibaMax 325,000 DWT methanol dual-fuel VLOCs, which are expected to be delivered in 2027. In September 2024, the two parties cooperated again to build two VLOCs of the same specification, which will be delivered in 2028.
The first six vessels cost about $130 million each, and the total value of the six vessels is about $780 million. If the latest 10 new vessels are ordered at the same price, the total value of the 16 vessels will be $1.3 billion (about RMB 9.3 billion).
Including this 10 VLOCs signed this time, Beihai Shipbuilding currently holds 18 325,000 DWT methanol dual-fuel VLOCs, among which 16 are from Shandong Marine Group and 2 are from Winning International Group.
Beihai Shipbuilding’s GuaibaMax 325,000 DWT methanol dual-fuel VLOC was independently designed by China Ship Design & Research Center Co., Ltd. (CSDC). It is 340 meters long and 62 meters wide, and is classified by DNV and CCS.
This type of VLOC maximizes the methanol fuel tank design to fully utilize the cargo hold space, and is equipped with a desulfurization tower and EGR system to effectively reduce harmful emissions. Whether in methanol mode or fuel mode, it can meet the NOx Tier III emission standards, and even in fuel mode it fully meets the EEDI Phase III emission requirements. Compared with traditional fuels, methanol combustion produces less harmful gases, which can reduce carbon dioxide emissions by 86.5%, nitrogen oxide emissions by 60%, and sulfur oxide emissions by 99%.
In addition, this type of VLOC is also equipped with a number of energy-saving technologies, including wind rotors, high-voltage shore power, shaft generators, and variable frequency control for seawater pumps/cabin fans, aiming to improve the energy efficiency.