Hafnia reveals investment in methanol-powered newbuilds backed by Total Energies

The deal was signed with China’s Guangzhou Shipyard International (GSI) together with Hafnia’s joint-venture partner Socatra of France.

“In line with Hafnia’s sustainability values and ambitions in transitioning towards a greener future and maritime sector, this is Hafnia’s first investment and step into the dual-fuel methanol landscape,” the company said.

“The increasing momentum in green methanol-fueled vessels highlights its ability as a cleaner marine fuel, with a future-proofed and proven net-zero pathway, furthering Hafnia’s ambitions in meeting the IMO’s 2050 targets.”

The use of green methanol onboard can eliminate SOx and Particulate Matter (PM) pollutants, cut NOx emissions by 60%, and reduce CO2 emissions by close to 100% on a tank-to-wake basis versus conventional marine fuels.

Three of these four vessels will be delivered in 2025, with the fourth delivered in 2026. All four vessels are fixed via Time-Charter to TotalEnergies shipping entity CSSA for a multi-year period.

This deal marks the second time Hafnia partners with TotalEnergies in taking joint steps to develop low-carbon shipping solutions.

“Given the time it takes to build a vessel and the time it takes actually to start moving the needle on carbon emissions, it is important to act now and take proactive steps in decarbonizing the maritime industry,” Søren Steenberg Jensen, Head of Hafnia’s Asset Management, said.

 “It does, however, require partnerships with charterers, to make the financials work. The cost of the new fuels’ technologies, if unsupported by long-term contracts, will have most owners refrain from taking the financial risk of the future fuel’s technology alone on otherwise already expensive assets.”

“As the IMO just decided new ambitious targets to decarbonize shipping, TotalEnergies is mobilized to enable the development of low carbon shipping. The dual-fuel methanol propulsion of the chartered MR tankers will offer highly valuable fuel flexibility and the actual capability for TotalEnergies to steer the decarbonization of its shipping activity, in line with the company’s ambition,” Jerome Cousin, Senior Vice President of Shipping at TotalEnergies, noted.

“We are also very pleased to expand the relationship with Hafnia, and its French partner Socatra to benefit from their expertise and deliver safe, low carbon, and efficient shipping services.”

So far, Hafnia has invested in LNG as fuel for its newbuilds as part of its decarbonization efforts.

TURK MARINEWS