Algoma Central orders two methanol-ready tankers

Canadian shipping company Algoma Central has ordered two methanol-ready product tankers from Hyundai Mipo Shipyard in South Korea.

PHOTO: Irving Oil’s existing product tanker sailing near St. John’s Harbour, NL. Irving Oil

Methanol-ready means that the vessels will likely run on conventional fuels from when they are delivered, until they are converted to be able to consume methanol. Methanol-ready vessels are generally designed in a way that prepares them for future retrofits.

The 37,000-dwt product tankers will also be equipped with shore power capabilities.

Both vessels are scheduled for delivery in the first quarter of 2025.

Upon completion, the vessels will be deployed under long-time charters to Canadian oil and gas producer Irving Oil, making deliveries “to ports in Atlantic Canada and the US East Coast” from its refinery in Saint John, New Brunswick.

By Tuhin Roy

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