Hafnia, a large operator of product and chemical tankers, adds more newbuilds to its fleet portfolio with the order for four Methanol MR tankers.

Hafnia confirmed Tuesday the order for four 49,800 dwt dual-fuel methanol chemical IMOII medium-range (MR) newbuilds from China´s Guangzhou Shipyard International (GSI), together with joint-venture partner “Socatra of France.”

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.

No price has been revealed for the quartet.

This is Hafnia’s first investment and step into the dual-fuel methanol landscape. This deal marks the second time Hafnia partners with TotalEnergies.

The shipping company took delivery during the year 2023 two of its four LNG dual-fuel LR2 product tankers, the Hafnia Languedoc and Hafnia Loire, also built out of GSI, with the two remaining vessels to be delivered up to 2024. The ships Hafnia Languedoc and Hafnia Loire are both on a time charter agreement to TotalEnergies.

On confirming the new order, Søren Steenberg Jensen, Hafnia´s head of asset management said, “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. 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.”

Jerome Cousin, senior vice president of shipping at TotalEnergies, said, “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. 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.”