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Taiwanese shipping company Wisdom Lines plans to invest $80 million in two 84,000 DWT bulk carriers starting in 2024.
The company announced that its board of directors has approved the purchase of a ship built by Tsuneishi Group (Zhoushan) Shipbuilding Co., Ltd. (China), the Chinese base of Japan’s Tsuneishi Shipbuilding.
Wisdom Lines pays about $40 million per ship. However, the Taiwanese shipowner did not provide details about the expected delivery date or the ship’s design.
The company delivered seven new ships in 2023, including two Kamsarmaxes and five Handies. These eco-ships are built at Japanese shipyards such as Imabari, Namura, Onomichi, and Tsuneishi, and all meet Tier 3 nitrogen oxide emission standards.
By the end of 2022, 52% of Wisdom’s operating fleet (excluding management-only vessels) will adopt ME-type main engines in their newly built eco-friendly ships, and all ships under construction will be newly built eco-ships equipped with ME-type main engines. By 2025, the proportion of ships equipped with ME main engines is expected to reach 56%
Excluding the latest order, the company has 153 ships, 15 of which are on order, primarily being built at shipyards in Japan. Four dry bulk carriers are scheduled for delivery in 2024, followed by nine in 2026 and two more in 2027, according to data on the company’s website.
In September, Tsuneishi Group (Zhoushan) Shipbuilding Co., Ltd. won a contract from Greek dry bulk shipping company Diana Shipping to build two new 81,200 dwt methanol dual-fuel Kamsarmax dry bulk vessels.
The first ship of this batch is expected to be delivered by late 2027, and the second by early 2028, Diana said.
Diana is not the only major dry bulk shipping company to join the methanol bandwagon. In October, Safe Bulkers commissioned Josai to build two methanol-fueled bulk carriers.Construction is expected to be completed in late 2026 to early 2027
By 2035, Tsuneshi Shipbuilding aims to move away from ships with engines that rely on crude oil and produce ships that run only on dual fuels.
The shipyard has taken the lead in developing methanol-fueled ships that utilize green methanol as fuel and achieve zero emissions.
The result of this effort was the world’s first methanol dual-fuel bulk carrier, Kamsarmax. With the introduction of methanol and advanced hull design, the Kamsarmax bulk carrier will reduce her CO2 emissions by 15%. Mr. Tsuneishi claims that the vehicle will be equipped with a substantial methanol fuel tank and will extend its cruising range by improving fuel efficiency.
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