Methanex is proud to announce that our wholly owned subsidiary, Waterfront Shipping (WFS), has received the 2018 Lloyd’s List Award for Best Fuel Solution. This award recognizes improvements in fuel efficiency and environmental performance, including efforts to bring forward low emission sustainable fuel technology to the market.
WFS operates the world’s largest methanol ocean tanker fleet and has been instrumental in the evolution of methanol as a viable fuel option for the shipping industry. In 2016, WFS alongside Mitsui O.S.K. Lines, Ltd., Westfal-Larsen Management, and Marinvest/Skagerack Invest had seven of the world’s first 2-stroke dual fuel vessels join its fleet, a revolutionary introduction to global marine transportation. These innovative vessels were built with the first-of-their kind MAN B&W ME-LGI 2-stroke dual fuel engines that can run on methanol, fuel oil, marine diesel oil or gas oil to enable fuel flexibility and support economics.
The vessels have achieved accolades from the marine industry for their use of clean-burning methanol as an alternative fuel. In 2016, along with shipping partners, Marinvest/Skagerack Invest, IINO Kaiun Kaisha, Ltd., Mitsui & Co Ltd., and the NYK Group, WFS announced their investment in another four vessels, resulting in 40% of WFS’ fleet powered by cleaning burning methanol in the coming year. More information on these stories can be found here and here.
This award is demonstrative of Waterfront Shipping’s industry leadership and drive to invest in sustainable marine technology.