MPC Container Ships Expands Fleet with Methanol Dual-Fuel Vessel NCL VESTLAND

MPC Container Ships (MPCC) has taken a significant step towards sustainability by expanding its fleet with the delivery of the NCL VESTLAND, a new-build methanol dual-fuel containership. This vessel is part of a strategic initiative aimed at reducing CO2 emissions and enhancing sustainability within the maritime industry.

Introduction to MPCC and Fleet Expansion

MPCC’s recent fleet expansion includes the addition of the NCL VESTLAND, an 18,800 dwt methanol dual-fuel containership. This vessel is designed to operate efficiently on both green methanol and conventional marine fuels, significantly reducing CO2 emissions by around 95% Shipping Telegraph.

This expansion is part of MPCC’s broader strategy to integrate methanol dual-fuel technology into its fleet. By doing so, MPCC aims to enhance its sustainability credentials and position itself as a leader in green shipping Infomarine.

Delivery and Charter of NCL VESTLAND

The delivery of the NCL VESTLAND marks a significant milestone for MPC Container Ships, as it embarks on a 15-year charter with North Sea Container Line. This long-term agreement ensures a stable operational environment and a reliable revenue stream for the company. The vessel, a 1,300 TEU dual-fuel methanol containership, is equipped with an MGO+methanol dual-fuel main engine, allowing it to operate on green methanol as the main fuel. This dual-fuel capability enhances MPCC’s sustainability credentials and positions it competitively in the green shipping market. The charter agreement includes detailed operational specifics, such as port calls, cargo handling, and maintenance schedules, further solidifying MPCC’s commitment to operational efficiency and environmental responsibility Shipping Telegraph.

Order and Construction Details

The order for the NCL VESTLAND was placed by MPCC in 2022 as part of an en-block transaction. This transaction included the purchase of two methanol dual-fuel containerships, with each unit costing $39 million.

En-block Transaction Details

The en-block transaction was structured to provide MPCC with economies of scale and better pricing. The transaction also included financing arrangements, which were secured through sustainable financing agreements.

Financial Aspects

The total cost of the en-block transaction was approximately $78 million. The financing for the transaction was secured through a combination of bank loans and sustainable financing agreements, which provided MPCC with the necessary capital to proceed with the project The Loadstar.

Economic and Environmental Impact

The NCL VESTLAND‘s economic and environmental impact is substantial. The vessel’s dual-fuel capability, powered by methanol, allows MPC Container Ships to operate more cost-effectively in regions where green fuels are prevalent. This flexibility enhances MPCC’s competitive position by reducing operational costs and increasing market accessibility Shipping Telegraph.

The environmental footprint of the NCL VESTLAND is significantly reduced compared to conventional containerships. Operating on green methanol results in a 95% reduction in CO2 emissions, contributing to a cleaner maritime industry and helping combat climate change Zero Carbon Shipping.

Future Plans and Strategic Initiatives

The sister vessel to the NCL VESTLAND, the NCL Nordland, is expected to be completed in February 2025. This vessel will also be a methanol dual-fuel containership, further expanding MPCC’s fleet of sustainable vessels. The NCL Nordland will have similar specifications to the NCL VESTLAND, including a capacity of 1,279 TEU and dual-fuel methanol engines. This consistency in specifications ensures that both vessels can be operated and maintained efficiently.

The operational plans for the NCL Nordland include a charter agreement with North Sea Container Line, similar to the one for the NCL VESTLAND. This long-term charter agreement will provide MPCC with a stable operational environment and a reliable revenue stream.

MPCC is committed to further expanding its fleet of methanol dual-fuel containerships. The company has plans to acquire additional newbuilds and retrofit existing vessels to enhance their sustainability credentials. MPCC is exploring the possibility of acquiring additional methanol dual-fuel containerships to further expand its fleet. Additionally, the company is considering retrofitting existing vessels to make them more sustainable. MPCC is also looking to form strategic partnerships to support its fleet renewal efforts. These partnerships can provide access to new technologies, financing options, and operational expertise, helping MPCC to stay ahead in the competitive maritime industry Shipping Telegraph.

Conclusion

MPC Container Ships’ strategic initiatives, such as the delivery of the NCL VESTLAND, demonstrate a commitment to sustainability and innovation. As the company continues to expand its fleet with methanol dual-fuel vessels and explore further retrofits, the maritime industry can look forward to a greener future.

Sources

• Shipping Telegraph – MPC Container Ships secures 15-year charter for newly delivered boxship
• Infomarine – MPC Container Ships secures 15-year charter for newly delivered boxship
• The Loadstar – MPC orders methanol-fuelled feeders in move towards carbon neutrality
• Zero Carbon Shipping – FuelEU Explainer: FuelEU builds the dual-fuel business case