ORIX Corporation has announced the order of three new bulk carriers through its wholly owned subsidiary, Santoku Senpaku. The order includes two methanol-fueled vessels from Tsuneishi Group (Zhoushan) Shipbuilding and one conventional fuel vessel from Oshima Shipbuilding.
On July 8, 2024, ORIX revealed that through Santoku Senpaku (headquartered in Osaka, President Junichi Taga), it had placed orders for two methanol-fueled Kamsarmax bulk carriers with Tsuneishi Shipbuilding and one conventional fuel bulk carrier with Oshima Shipbuilding. The release did not disclose the delivery dates or ship prices. This marks the first time the ORIX Group has ordered methanol-fueled vessels. ORIX acquired Santoku Senpaku in February 2024, and these new orders are the first since the acquisition.
The two Kamsarmax bulk carriers will be built at Tsuneishi Group (Zhoushan) Shipbuilding in China, while the bulk carrier from Oshima Shipbuilding will be constructed at the Koyagi Shipyard in Nagasaki City.
The Kamsarmax vessels ordered by Santoku Senpaku from Tsuneishi Shipbuilding will achieve a 15% reduction in CO2 (carbon dioxide) emissions and a 95% reduction in SOx (sulfur oxides) emissions compared to conventional ships, thanks to the use of methanol and advanced ship design.
The vessels built by Tsuneishi Shipbuilding are expected to achieve net-zero CO2 emissions during operation in the future by utilizing green methanol, produced from CO2 and renewable energy-derived hydrogen.
On February, 2024, ORIX announced that it would have acquired all issued shares of the major shipowner Santoku Senpaku. Following the completion of this acquisition, ORIX inherited all of Santoku Senpaku’s operations, including its fleet of 67 vessels and ship management business. While the acquisition price remains undisclosed, ORIX’s investment is estimated to be around 300 billion yen in enterprise value, including liabilities. Santoku Senpaku was exploring new growth strategies due to a leadership transition. ORIX, with over 50 years of experience in ship ownership and leasing, successfully completed a significant M&A deal with Santoku Senpaku.