The Taiwanese container transportation and shipping company Evergreen Marine recently placed an order to acquire a new fleet of 24 methanol dual fuel containerships for more than $5 billion, according to Offshore-Energy.

The construction deal will reportedly be divided between Nihon Shipyard, a joint venture between Japan Marine United Corporation and Imabari Shipbuilding Co., Ltd., and Samsung Heavy Industries.

Samsung Heavy Industries will be tasked with constructing 16 16,000-TEU methanol duel fuel containerships that carry a price tag of $180 million to $210 million per ship, according to Evergreen Marine. Meanwhile, Nihon Shipyard is expected to build the eight remaining ships under the same terms. Evergreen Marine’s total investment will reportedly be $5.04 billion.

The new fleet of 24 ships will likely be completed and delivered to Evergreen Marine between 2026 and 2027.

Orders in the shipping transportation sector featuring methanol-powered engines now reportedly exceed 100 ships. This recent order of methanol-powered vessels coincides with a revised shipping strategy adopted by the International Maritime Organization earlier in July that aims to achieve net-zero greenhouse gas emissions by or around 2050.