iMarine

JP Morgan ups methanol-fuelled MR tanker newbuildings at China’s GSI

JP Morgan has signed up for another two methanol-fuelled MR tankers at Guangzhou Shipyard International(GSI). And the deal brings the total number of the dual-fuelled, 50,000-dwt product carriers booked at GSI to six. The orders were all placed through Oceonix Services, a London subsidiary of JP Morgan, at a cost of more than $50 million per vessel.

In June this year, GSI signed a construction contract with JP Morgan for the first two 50,000 DWT methanol dual-fuel MR tankers; in August, JP Morgan placed an additional order for two 50,000 tons methanol dual-fuel MR tankers. The first four vessels are scheduled for delivery in March, June, August and October 2026. The latest order for 2 new vessels is scheduled for delivery in December 2025 and March 2026, Clarkson data showed.

The vessel adopts the new generation of methanol dual-fuel MR vessel design independently developed and designed by GSI. GSI has deeply optimized the hull line shape and configured a new type of axle generator, which enables the vessel to realize the recycling of sailing energy. Equipped with a variety of energy-saving devices, such as forward conduit, the propulsion efficiency has been further improved, the vessel has reached the world’s leading level in energy saving, emission reduction and green environmental protection.

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