X-Press Feeders is planning to run the vessels on green methanol to operate within Europe.
The two companies will work together to launch a feeder network – the first in Europe to be powered by green methanol.
For a start, these dual-fuel ships will be centred at the Port of Rotterdam and cover ports in the Baltic Sea and Scandinavia. Ultimately, the 14 dual fuel ships that X-Press Feeders has on order for delivery from 2024 Q2 through mid-2026 will be operated within Europe and the Mediterranean.
The company has already signed a firm contract with Dutch fuel supplier, OCI Global, for the supply of green methanol, which is ISCC-EU (International Sustainability and Carbon Certification) certified.
“We are pioneering the use of dual-fuel vessels and we decided to take delivery of our vessels sooner, rather than later, because we know we need to take significant steps today to meet the targets for reductions in GHG emissions,” said Francis Goh, X-Press Feeders’ Chief Operating Officer.
“Our two companies are encouraging port operators, fuel suppliers, logistics companies, freight-forwarders, and beneficial cargo owners (BCOs) to join us on the path to more sustainable shipping.”
More recently this year, X-Press Feeders signed a sustainability-linked credit deal with investors, including the Asian Infrastructure Investment Bank (AIIB), to assist its efforts to cut carbon emissions.