JP Morgan Embraces Maritime Innovation With Order of Methanol-Fueled Tankers for TotalEnergies

Written by Ruth Rodrigues

Published on 30/08/2023 at 14:02

Fonte: Marine Log

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The Order of Tankers Reflects the Growing Importance of Methanol Fuel in the Search for More Sustainable Maritime Transport Practices. JP Morgan’s Vessels Will Be Chartered by TotalEnergies in the Future.

JP Morgan announced this Wednesday, (08/30), the order of two advanced tankers powered by methanol in partnership with Guangzhou Shipbuilding International (GSI). Each ship will have a capacity of 50,000 tons and will utilize dual fuel technology, operating on both methanol and conventional fuels. The vessels will be employed by TotalEnergies, the French energy leader, highlighting methanol as an ecological alternative. The investment of US$ 50 million per ship signals a commitment to cleaner and more efficient transportation solutions.

JP Morgan Orders Two Methanol-Powered Tankers in Partnership with GSI

The financial giant JP Morgan has taken a significant step towards a greener future, making a notable order in the maritime industry.

In collaboration with Chinese Guangzhou Shipbuilding International, JP Morgan has ordered two innovative methanol-powered tankers.

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The Use of Methanol as Fuel Will Bring Strong Benefits to Tankers

The choice of methanol as fuel is not only a technical innovation but also an environmental achievement.

The use of green methanol aboard tankers offers notable advantages, from the elimination of atmospheric pollutants to a significant reduction in CO2 emissions.

Compared to traditional maritime fuels, green methanol is a promising solution to tackle environmental challenges.

Thus, JP Morgan’s initiative follows the trail of similar undertakings in the maritime industry.

The Singapore-based tanker company Hafnia has also reserved the construction of methanol-powered MR chemical tankers, contracted with GSI.

The four vessels are contracted for time charter by TotalEnergies’ CSSA shipping entity, spanning several years. While three of them are scheduled for delivery in 2025, the fourth will be available in 2026.

This collaboration not only demonstrates the global reach of interest in methanol but also signals a shift towards a more responsible transport paradigm.

As the maritime industry seeks solutions to reduce its environmental footprint, the collaboration between financial institutions, shipbuilding companies, and energy firms showcases the potential of methanol in this transition.

JP Morgan’s investment and partnership with TotalEnergies are essential steps towards a greener and more sustainable maritime horizon.

About JP Morgan

JP Morgan, a renowned financial institution based in the United States, plays a significant role in global financial markets. The company offers a wide range of financial services, including investment banking, asset management, commercial and retail banking, among others.

JP Morgan Embraces Maritime Innovation With Order of Methanol-Fueled Tankers for TotalEnergies

The Order of Tankers Reflects the Growing Importance of Methanol Fuel in the Search for More Sustainable Maritime Transport Practices. JP Morgan’s Vessels Will Be Chartered by TotalEnergies in the Future.

JP Morgan Orders Two Methanol-Powered Tankers in Partnership with GSI

The Use of Methanol as Fuel Will Bring Strong Benefits to Tankers

About JP Morgan

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JP Morgan Embraces Maritime Innovation With Order of Methanol-Fueled Tankers for TotalEnergies

The Order of Tankers Reflects the Growing Importance of Methanol Fuel in the Search for More Sustainable Maritime Transport Practices. JP Morgan’s Vessels Will Be Chartered by TotalEnergies in the Future.

JP Morgan Orders Two Methanol-Powered Tankers in Partnership with GSI

The Use of Methanol as Fuel Will Bring Strong Benefits to Tankers

About JP Morgan

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Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

Dissatisfied with seeing people sleeping on the street, a man named Ryan Donais started building small mobile homes so that homeless people can escape the cold, each equipped with a bed, running water, electricity, and heating.

Consumers eat six times more chicken than in the 1960s, global meat supply quadruples in 60 years, and FAO report reveals the invisible cost on the plate: livestock could drive 80% of the increase in agricultural emissions over the next decade.

Using high-resolution satellite images, archaeologists rediscovered the Egyptian city of Imet, buried for centuries in the Nile Delta, revealing rare multi-story houses, granaries, and a sacred road linked to the cobra goddess Wadjet, from about 2,400 years ago.

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