ORIX Corporation’s Landmark Order For Methanol-Fueled Bulk Carriers Marks A Green Milestone

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ORIX Corporation has placed an order for two Methanol Dual Fuel KAMSARMAX Bulk Carriers from TSUNEISHI SHIPBUILDING Co., Ltd. and one bulk carrier from Oshima Shipbuilding Co., Ltd., through its subsidiary Santoku Senpaku Co., Ltd. This marks the first time ORIX Group has ordered methanol-fueled ships, signifying a step towards greener maritime solutions.

Environmentally Friendly KAMSARMAX Bulk Carriers

The newly ordered KAMSARMAX bulk carriers, built by TSUNEISHI SHIPBUILDING, are methanol-fueled dual fuel vessels capable of using both methanol and heavy oil. These ships are designed to reduce CO2 emissions by approximately 15% and sulfur oxides emissions by about 95% compared to conventional ships. In the future, the use of green methanol made from renewable hydrogen and CO2 could further reduce CO2 emissions to virtually zero during operation.

Compliance with IMO’s Emission Targets

The order comes in response to the International Maritime Organization’s (IMO) reinforced greenhouse gas (GHG) emissions reduction targets, which aim to achieve net-zero GHG emissions from international shipping by 2050. The new ships meet EEDI Phase 3 requirements, achieving a 30% reduction in emissions from standard values, effective for new vessels from 2025. This compliance underscores the ships’ alignment with global environmental goals and the increasing demand for eco-friendly maritime solutions.

ORIX and Santoku Senpaku’s Strategic Move

This order is the first for ORIX and Santoku Senpaku since ORIX acquired all issued shares of Santoku Senpaku in February 2024. The acquisition and subsequent orders signify ORIX’s commitment to expanding asset management services for third-party-owned ships and advancing the decarbonization of the maritime industry. By acquiring expertise in operating methanol-fueled and other environmentally friendly ships, ORIX and Santoku Senpaku aim to contribute significantly to reducing the industry’s environmental footprint.

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Source: ORIX