Zhoushan Changhong has secured substantial orders from two European shipping companies, potentially building up to 18 large containerships. The total value of these orders could surpass $3.5 billion if all options are taken up, reports Lloyd’s Register.
Largest Orderbook
Mediterranean Shipping Co. (MSC), the world’s largest container shipping company, has ordered four 21,700 TEU liquefied natural gas (LNG) dual-fuel ships, with an option for four more, from a Chinese shipyard.
The estimated cost for these new builds is over $270 million per vessel. Before this order, MSC already possessed the largest orderbook among carriers, with 129 ships representing 2 million TEU, or more than 30% of its current fleet capacity.
Regaining Position
TMS Group, led by George Economou, has also placed an order for 10 dual-fuel (LNG) ships, each with a capacity of 11,400 TEU. According to reports, the cost is $140 million per ship, with deliveries scheduled between 2027 and 2029, though four of these ships are options.
These orders, combined with Evergreen’s recent announcement to order 11 large LNG dual-fuel ships, indicate that LNG is regaining its position as the preferred alternative fuel for shipowners.
Clarksons data reveals that approximately 70% of dual-fuel newbuildings in 2024 will utilize LNG technology, a significant increase from 43% in 2023. Conversely, methanol’s share has decreased.
Maersk’s decision to shift towards LNG is considered a key factor in this trend. They have ordered around 50 LNG-powered ships since the latter half of the previous year through direct orders and charter agreements.
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Source: Llyod’s Register
