Fairfield Maritime Japan (FMJ) has signed a long-term charter agreement with Finnish renewable fuels producer Neste for two new wind-assisted medium-range (MR) tankers, adding to the growing wave of shipowners and cargo owners investing in fuel-efficient, dual-fuel-ready vessels ahead of tightening international maritime emissions regulations.

The two companies said in a joint press release on Tuesday that the vessels will be built in South Korea and delivered in 2029.

FMJ will finance and manage construction of the 50,000 DWT tankers, which will be built by HD Hyundai. The vessels will be ice class ships designed for year-round operations in the Baltic Sea, enabling them to serve Neste's Porvoo refinery during the winter with icebreaker assistance. Ice class capability is essential for Baltic operations, where winter sea ice regularly disrupts shipping lanes and requires vessels hardened for navigation in frozen waters.

The tankers will initially operate on conventional marine fuels, but they are designed to be retrofitted for methanol propulsion in the future. Methanol has emerged as one of several candidate alternative fuels for maritime decarbonization, and a number of major shipowners have ordered methanol-ready tonnage even as global bunkering infrastructure for the fuel remains limited. The newbuilds will also be equipped with wind-assisted propulsion systems and shore power connectivity, technologies intended to reduce fuel consumption, emissions and operating costs.

"With these new state-of-the-art vessels, we are continuing our efforts to deliver safe and efficient sea transport to and from our Porvoo refinery," Sander Wilgenhof, head of chartering at Neste, said.

The agreement is intended to support cargo transportation to and from Neste's refinery while adding vessels that include fuel-saving technologies and the option to convert to methanol propulsion at a later stage.