S6 Ep24: Paul Hexter, President, Waterfront Shipping

In this conversation, Paul Hexter lifts the veil on some of the practical challenges that Waterfront Shipping experienced since the first seven methanol dual-fuel vessels joined its fleet in 2016. He emphasises the central role of onboard teams and shipowners in solving technical teething issues around pilot fuel and lubricating oil, and in helping improve the technology from the first to the second and third generations of dual-fuel ships.
Today, 19 of the company’s 30 deep-sea tankers are able to use methanol as fuel.
Paul reports that the company has run its vessels on conventional methanol and some bio-methanol for over 245,000 hours to date, and that the fleet is currently operated on methanol ‘quite often’ in the current fuel price environment.
He also outlines his vision for the transition to green methanol, revealing that Waterfront Shipping is already using some bio-methanol as fuel to ensure compliance with FuelEU Maritime regulations.
While Waterfront Shipping does not currently have more vessels on order, the company aims to stick to methanol dual-fuel technology for future newbuild orders.
Asked about trends in the alternative-fuelled orderbook, which show that LNG has overtaken methanol in newbuild orders since the second half of 2024, Paul argues that ‘there is definitely room for multiple alternative fuels in the market,’ and highlights that methanol ‘makes a lot of sense’ as a fuel option, given that it doesn’t need cryogenic treatment and pressurisation and few modifications are needed to existing bunkering infrastructure and processes.
He also comments on the IMO member states’ decision to postpone the Net-Zero Framework by a year. While many owners may defer newbuild or retrofit decisions amid the uncertainty, he points out that the industry as a whole remains supportive of a transition towards more sustainable fuels, and believes the delay might give companies a chance to further evaluate their options.