First methanol-fuelled bulkers for Cargill

The vessels will be delivered in Q4 2025 and Q1 2026, the trading house confirmed. 

The newbuilding order was placed in partnership with Mitsui & Co. The vessels are expected to enter into a fixed price long-term charter upon delivery. 

While the news that the first order has been placed for a methanol-fuelled vessel in the dry bulk segment is a significant development, the order is smaller than the 4-6 methanol-fuelled order that had been previously discussed. 

Cargill Ocean Transportation has previously expressed a commitment to encouraging the decarbonisation of shipping. In 2019, it signed a Global Maritime Forum declaration calling for it to be viable to order net zero emission deep-sea vessels for delivery by 2030. Jan Dieleman, president of Cargill Ocean Transportation noted that the order has “ended the chicken and egg debate”.      

Cargill Shipbuilding confirmed the news in a statement on 13 January, following an exclusive interview with a news outlet on 11 January.