Competition is expected to intensify between Korean and Chinese shipbuilders in the methanol-powered ship market.
French shipping company CMA CGM, the world’s third-largest shipping company, recently decided to place an order for six 15,000-TEU methanol-powered ships with Dalian Shipbuilding of China, not with a Korean shipbuilder. As the price per ship is US$175 million (about 229.3 billion won), the entire value of the contract is worth over one trillion won.
Although Korean shipbuilders also sought to win the order, CMA CGM favored Dalian Shipbuilding, considering the delivery time and prices. Dalian Shipbuilding promised to deliver six methanol-powered ships by the second half of 2025, proposing a price several million dollars lower than those proposed by Korean shipbuilders.
Morten Bo Kristiansen, a Maersk official in charge of decarbonization, predicted that by 2030, about 25 percent of the world’s vessels will be powered by eco-friendly fuels.