One more company using methanol vessels

A methanol-powered, booked by Diana Shipping, kamsarmaxes at Tsuneishi

Methanol vessels

A methanol-powered, booked by Diana Shipping, kamsarmaxes at Tsuneishi

Greek bulker owner Diana Shipping, listed on the New York Stock Exchange, has resumed its ship orders with a deal to acquire two methanol dual-fuel kamsarmaxes.

The company, led by Semiramis Paliou, has entered into a letter of intent to purchase these vessels, each with a capacity of 81,200 deadweight tons (dwt), from the Tsuneishi Zhoushan shipyard in China. This arrangement is subject to the execution of definitive documentation and the fulfillment of customary closing conditions. It is anticipated that these ships will be delivered in the second half of 2027 and the first half of 2028, with each vessel costing $46 million.

Paliou, the CEO of Diana Shipping, expressed the company’s commitment to being an industry leader and continuously improving its fleet and operations for the benefit of stakeholders and the environment. She emphasized that this investment reflects their dedication to sustainable shipping and positions them to meet the evolving demands of the industry while reducing their carbon footprint.

Diana Shipping, currently operating a fleet of 41 bulk carriers, had last placed ship orders in 2014 with Yangzhou Dayang Shipbuilding. However, these orders were canceled in the same year due to delivery delays.

Tsuneishi Zhoushan shipyard has become a preferred choice for methanol-powered bulk carriers, with several other companies, including Kambara Kisen, J. Lauritzen, Cargill, and Mitsui & Co, also opting for kamsarmaxes at this yard. Additionally, an unnamed owner placed an order for another methanol dual-fuel ultramax at the yard in February, scheduled for delivery in 2025.

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