WAN Hai Lines has placed its second significant order this year for methanol dual-fuel newbuildings, underscoring its commitment to the alternative fuel despite industry headwinds.

The Taiwanese carrier announced deals with two South Korean builders, Samsung Heavy Industries and HD Hyundai Samho, to build four 16,000 teu dual-fuel boxships each, with a combined value of approximately $1.5bn-$1.6bn.

This deal follows Wan Hai’s first dual-fuel orders in August of this year, for up to 20 methanol-powered 8,000 teu ships. Domestic builder CSBC Corp secured 12 vessels, with an option for four more, while Hyundai Samho won the other four units.

Wan Hai said the latest newbuildings align with its long-term development strategy.

The company’s renewed commitment to methanol comes despite wavering industry confidence in the alternative fuel, following Maersk’s shift in its position on using liquefied natural gas as a fuel to reduce emissions.

“Methanol has lower carbon emissions when used as fuel — less than conventional fuel oil and LNG. It helps achieve our long-term ESG target of decarbonisation,” Wan Hai previously told Lloyd's List.

However, the need to burn greener bio-methanol and carbon-neutral e-methanol made with renewables still faces high prices and scarce supply.

According to Alphaliner data, Wan Hai currently ranks 11th among all container carriers, with a total capacity of around 530,000 teu.

This latest order, which has boosted Wan Hai’s orderbook size to more than 300,000 teu, gives the company the potential to surpass Yang Ming and even ninth-ranked Zim, positioning it to break into the top 10 in the near future.