Safe Bulkers takes delivery of Cyprus register’s first methanol dual-fuel bulk carrier

Zhoushan, China. Safe Bulkers has received Kypros Island, making it the first methanol dual-fuel bulk carrier registered under the Cyprus flag and the first such vessel in the company’s fleet. Shipping Deputy Minister Marina Hadjimanolis named the ship at a Chinese shipyard during her working visit to the country.

New vessel combines alternative fuel and efficiency features

Japan’s Tsuneishi Shipbuilding built the 81,200-deadweight-tonne Kamsarmax at its yard in Zhoushan. The vessel can use methanol or conventional marine fuel while transporting standard dry bulk commodities, including coal, grain and iron ore.

The delivery establishes Cyprus’ presence in an emerging dry bulk segment, where ships using alternative fuels are still considerably less widespread than in container shipping. It also brings a substantial Safe Bulkers investment in cleaner vessel technology into operation.

Alongside the dual-fuel system, Tsuneishi has incorporated hull changes to improve efficiency and aerodynamic elements intended to cut wind resistance. A sizeable methanol tank sits towards the stern, preserving much of the cargo-carrying capacity associated with Kamsarmax vessels.

Kypros Island entered the water on June 25 at Tsuneishi’s Xiushan Island yard, near Zhoushan. Delivery preparations followed, with October 11 to 16 set aside for sea trials ahead of the formal naming ceremony.

Limassol contracts underpin fleet renewal

The project’s links with Limassol date to October 2023, when Tsuneishi disclosed an order for two ships involving Safe Bulkers and the Japanese trading group Itochu Corporation. Contracts covering the methanol-powered Kamsarmax vessels were signed at Safe Bulkers Tower in Limassol, with deliveries initially envisaged from the latter half of 2026 through the opening half of 2027.

The second dual-fuel methanol Kamsarmax is expected in January 2027. Both ships belong to a broader fleet replacement programme under which Safe Bulkers is retiring older vessels in favour of designs that use less fuel and comply with stricter environmental requirements.

Safe Bulkers’ most recently published fleet update, covering July 24, listed 46 ships with an aggregate capacity of approximately 4.5 million deadweight tonnes. Its orderbook comprised ten vessels due for delivery through 2029.

The company had also finished environmental improvements on 25 ships already in service. Those works included changes intended to lower resistance through the water and enhance energy efficiency.

Cyprus promotes a larger, more modern register

The addition coincides with Cyprus’ efforts to bring more modern vessels under its flag. During much of October, Hadjimanolis held meetings in Japan and China with shipbuilders, shipowners and maritime executives, promoting both the register and the broader services provided by Cyprus’ shipping sector.

Speaking at an October 15 reception in Tokyo, Hadjimanolis reported growth of 27 per cent in the Cyprus register since September 2023, taking it to a 25-year high.

Kypros Island’s arrival comes as the government pursues the parallel objectives of enlarging the register and attracting newer vessels with greater efficiency.