James Fisher linked to order for up to 4 dual-fuel LNG tankers in China
James Fisher linked to order for up to 4 dual-fuel LNG tankers in China - Offshore Energy
James Fisher linked to order for up to 4 dual-fuel LNG tankers in China
UK-based maritime service provider James Fisher has reportedly placed an order for up to four dual-fuel liquefied natural gas (LNG) tankers.
The contract includes two firm orders plus options for two additional ships.
The vessels will be constructed at China Merchants Jinling Shipyard (Yangzhou), China, according to the reports from Intermodal shipbrokers.
They will boast a capacity of 6,000 deadweight tons (dwt) each. The tankers are designed to adhere to the stringent International Maritime Organization (IMO) type 2 chemical-handling standards. The dual fuel technology allows them to run on both traditional marine diesel oil and LNG.
By opting for an LNG dual-fuel vessel, the company aims to minimize emissions and align with the global maritime industry’s efforts to combat climate change.
The company is said to be paying $28.0 million per ship.
The tankers are expected to be delivered in 2025.
The order is being reported on the heels of James Fisher’s delivery of two 6,000 dwt LNG dual-fuel tankers built by China Merchants Jinling shipyard, Lady Maria Fisher and Sir John Fisher.
The shipowner claims that each vessel is capable of achieving a 45 percent reduction in carbon emissions, in addition to a 93 percent reduction in NOx and 45 percent reduction in SOx.
Both tankers have been specifically designed for restricted access ports around the coastline of Northern Europe, which will enable JFE to better service existing long-term contracts.
The two ships will replace James Fisher’s existing tankers and, while identical in terms of dimensions, will be able to carry more cargo due to their increased deadweight.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.