ASP Successfully Takes Delivery of Vietnam’s First Two Methanol Dual-Fuel MR2 Oil/Chemical Tankers

Guangzhou, China – On November 20, 2025, Asia Pacific Shipping Company Limited (ASP) took delivery of ASP RAINBOW, a methanol dual-fuel MR2 oil/chemical tanker, at Guangzhou Shipyard International (GSI), a subsidiary of China State Shipbuilding Corporation (CSSC).

The delivery marked an important milestone in ASP’s fleet development programme. On the same day, ASP RAINBOW was officially delivered and named, while her sister vessel, ASP SUNSHINE, was also jointly named.

The two vessels are the first commercial vessels in Vietnam to feature methanol dual-fuel technology, representing an important step in ASP’s fleet renewal and its investment in technologies that support a more efficient and sustainable maritime future.

Investing in Methanol Dual-Fuel Technology

ASP RAINBOW and ASP SUNSHINE are MR2 oil/chemical tankers capable of operating on both conventional marine fuel and methanol.

The adoption of methanol dual-fuel technology provides greater operational flexibility while supporting ASP’s long-term fleet modernisation strategy. As the maritime industry responds to increasingly stringent environmental requirements and the transition towards lower-carbon fuels, ASP sees alternative-fuel technologies as an important part of the development of a future-ready fleet.

The introduction of these vessels marks ASP’s first step in bringing methanol dual-fuel technology into its fleet and reflects the company’s continued investment in modern tonnage and more efficient vessel technologies.

A Milestone in ASP’s Fleet Renewal Programme

ASP RAINBOW and ASP SUNSHINE are the first vessels delivered under ASP’s methanol-powered MR2 newbuilding programme with GSI, initiated in 2024.

The programme forms part of ASP’s broader strategy to expand and modernise its tanker fleet through investment in new-generation vessels.

By combining modern vessel design with alternative-fuel capability, ASP is working to strengthen the efficiency, flexibility and long-term competitiveness of its fleet while preparing for the evolving requirements of international maritime transportation.

The delivery of ASP RAINBOW and ASP SUNSHINE also provides a foundation for ASP’s continued fleet renewal and its long-term development as a Vietnamese shipowner serving international markets.

Strengthening Vietnam–China Maritime Cooperation

The successful completion of the project reflects close cooperation between Vietnamese and Chinese companies across shipowning, shipbuilding and maritime finance.

Key partners involved in the project include:

• Asia Pacific Shipping Company Limited (ASP) – Project owner and shipowner.
• Guangzhou Shipyard International (GSI) – Shipyard responsible for the construction of the vessels.
• China State Shipbuilding Corporation (CSSC) – GSI’s parent group and a major partner in the project.
• CSSC (Hong Kong) Shipping Company Limited – Financial partner supporting the project.

The delivery and naming ceremony brought together senior representatives from ASP, GSI and CSSC Leasing, marking the successful completion of an important newbuilding project and further strengthening cooperation between the two countries' maritime industries.

Building a Modern and Future-Ready Fleet

ASP continues to invest in a diversified and modern fleet covering oil, chemical, gas and dry bulk vessels. The company’s current fleet development programme combines vessel acquisitions with newbuilding projects designed to strengthen its long-term shipowning platform.

The delivery of ASP RAINBOW and ASP SUNSHINE is an important part of this strategy. Their methanol dual-fuel capability complements ASP’s subsequent investment in modern MR2 oil/chemical tankers, including ASP MAPLE and ASP CEDAR, delivered in 2026.

Together, these investments demonstrate ASP’s continued focus on fleet renewal, operational efficiency and the adoption of technologies that support the transition towards more sustainable maritime transportation.

Looking Ahead

The delivery of ASP RAINBOW and ASP SUNSHINE marks an important step in ASP’s journey to develop a modern, efficient and future-ready tanker fleet.

ASP will continue to invest in newbuilding projects, develop its operational and technical capabilities, and build long-term partnerships across the international maritime industry.

Through responsible shipowning and continuous fleet development, ASP aims to contribute to the long-term transformation of maritime transportation and support the global shipping industry's ambition towards Net Zero by 2050.

About Asia Pacific Shipping

Asia Pacific Shipping (ASP) is an independent, wholly private Vietnamese shipowner and operator of tankers and bulk carriers. Founded by experienced maritime professionals, ASP has grown from bulk carrier operations into a diversified shipowning business with an expanding tanker fleet and a long-term newbuilding programme.

ASP combines shipowning, commercial operations and technical management to operate its fleet safely, efficiently and reliably across international markets.

Today, ASP's fleet spans oil, chemical, gas and dry bulk segments, with 42 vessels, including 25 in operation and 17 under construction, representing more than 3 million DWT in total deadweight.