Japan's Mitsui E&S sees rising demand for dual-fuel engines 

In the third quarter of its fiscal year ending 31 March 2025, the company reported a 34% year-on-year increase in orders for marine propulsion systems, measured in million yen. Mitsui E&S attributed this growth to rising demand for larger marine and dual-fuel engines.

Mitsui E&S disclosed it has begun the world’s first test operation of a large-bore, low-speed ammonia dual-fuel engine along with a commercial ammonia fuel supply system. The company stated the project builds on pioneering R&D efforts by its licensor, MAN Energy Solutions.

However, the company’s focus is not limited to ammonia. Mitsui E&S also announced the delivery of a methanol dual-fuel engine to Tsuneishi Shipbuilding, emphasising its efforts to expand testing facilities for methanol-fuelled propulsion in response to increasing customer demand.

During its financial results announcement, Mitsui E&S also underscored the strength of Japan’s shipbuilding sector, noting some shipyards are now receiving inquiries for projects with delivery dates as far as 2029. "Japanese shipyards have secured sufficient volumes of work on hand," the company stated.

Despite intensified competition from China and South Korea, Japan remains a preferred choice for newbuilding projects, particularly in the bulk carrier segment.

Protectionism concerns 

Mitsui E&S also expressed concerns over the rise of protectionist policies worldwide, which could impact global trade dynamics.

With the new US administration taking office, there is a possibility that domestic policies will shift toward unilateralism and transactional approaches, the company noted in its earnings report.

If other major economies prioritise national interests over global co-operation, we could see a trend toward protectionism, potentially leading to geopolitical confrontations and economic uncertainty, Mitsui E&S warned.