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.

Yangzijiang Shipbuilding

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