Page 44: of Maritime Reporter Magazine (November 2022)

FEATURE METHANOL SHIPS involved the cargo side, which is very unusual, on a 15-year

MPCC contracted the 1,300 contract. We are the owner and we have a charterer and we have a cargo provider, and we all have a 15-year commit-

TEU containership pair for ment.” The 15-year time charters are to North Sea Container $39m each at Taizhou Sanfu

Line AS (NCL), backed by CoAs from various parties, includ- ing a 15-year CoA with Norwegian industrial group Elkem

Ship Engineering in China for

ASA. The 15-year time charter with NCL is at an initial rate of EUR ~16,300/day, before in? ationary adjustment mecha- delivery in the second half of nisms. “Long term commitments helps because you know what cargo will be transported. It’s not that the vessel will 2024. The vessels come with a trade in Asia tomorrow. It will trade in Europe. It is designed dual fuel engine setup which for this trade.”

While Baack and the MPCC team have centered on metha- enables operation on methanol nol, he knows all too well the mantra that there is no ‘Silver

Bullet’ solution in terms of future fuel choice. “I think it’s as well as conventional MGO. still about maintaining ? exibility and optionality,” said Baack.

The vessel owning entities will “Dual fuel is a key word here because the solutions are not as mature on the supply side of fuel, to the point where you can be majority owned by MPCC just go all-in on methanol, for example.”

He adds: “you will not be able to solve it on your own. (90.1%) together with Topeka

We partnered with the cargo side and a charterer to ensure we have a joint understanding of what the vessel is doing and

MPC Maritime AS (9.9%), a joint why, and where it trades, because having this certainty (helps venture between Topeka Holding

AS (zero emission shipping company owned by Wilhelmsen

Group) and MPC Capital AG.

MPC Container Ships 44 Maritime Reporter & Engineering News • November 2022

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