Samsung Heavy Industries (SHI) of South Korea has secured a contract worth approximately USD3.13bn from Evergreen Marine Corporation in Taiwan. The contract is for the construction of sixteen 16,000 TEU class container ships that will be powered by methanol, a more environmentally friendly fuel option. This is the largest single shipbuilding contract in history. By opting for methanol-powered ships, Evergreen aims to reduce the carbon emissions of its fleet. Methanol fuel can significantly reduce emissions of sulfur oxides, nitrogen oxides, and carbon dioxide compared to traditional bunker C oil. The new ships will also align with the decarbonization goals set by the International Maritime Organization to reduce CO2 emissions in the shipping industry by at least 40% by 2030. The contract will enhance SHI's competitiveness in the eco-friendly shipbuilding market.

Source: ESGNewsasia