Greek shipowner Danaos has awarded a contract for four methanol fuel-ready 7,200 twenty-foot equivalent unit (TEU) containerships.

The ships are planned to be built at Daehan Shipbuilding in South Korea, with delivery scheduled in the first half of 2024.

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The methanol fuel-ready vessels will feature open-loop scrubbers. They will be built in accordance with the latest requirements of the International Maritime Organization (IMO) in relation to Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III.

Danaos CEO Dr John Coustas said that the four vessels are at the forefront of new technology and will feature the latest specifications on emissions requirements.

Coustas added: “The current world developments are pointing out to significantly elevated fuel prices in the future and bearing in mind the uncertainty of green fuel availability we are following a strategy of investing into the most fuel-efficient vessels together with scrubbers that will minimise the fuel cost while maintaining the option to modify the vessels into green methanol use when the fuel will be available.

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“This strategy removes the risk of technical obsolescence while it delivers short and medium-term benefits on the fuel cost front. Further, the midsize segment is the one which is most underbuilt, and replacement will be required.”

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Last month, Danaos placed an order for two methanol-ready 7,100TEU containerships in China.

Planned to be built at Dalian Shipbuilding, the two new vessels are scheduled for delivery in the second and third quarters of 2024.

Danaos owns a fleet of 77 containerships, which includes six containerships on order with deliveries scheduled in 2024.