Eastern Pacific Shipping charters LNG-powered bulkers to Rio Tinto

Singapore’s Eastern Pacific Shipping said it has signed a deal to charter up to six LNG-powered dry bulk carriers to mining giant Rio Tinto.

EPS said in a statement on Tuesday the duo entered into the deal for three LNG dual-fueled Newcastlemax vessels, with an option for three more.

In addition, China’s New Times Shipbuilding will build the 210,000 DWT ships and deliver them starting from the second half of 2023.

“This partnership between EPS and Rio Tinto is another important step forward for industry-wide decarbonisation. We need like-minded companies to come together and use transitional fuels, like LNG, to get there,” EPS CEO Cyril Ducau said in the statement.

EPS did not provide any additional information but several shipbrokers said last month that the price tag of the six vessels would reach about $400 million.

Moreover, brokers said that South Korea’s H-Line Shipping also chartered up to six similar LNG-powered bulkers to London-based Rio Tinto. China’s Qingdao Beihai Shipbuilding Heavy Industry would build these vessels.

Most Popular

Chevron, China’s ENN seal second LNG SPA

US energy giant Chevron has signed a second LNG sales and purchase agreement with Chinese independent gas distributor ENN.

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

CoolCo always looking at acquisitions, CFO says

LNG carrier owner CoolCo is always on the lookout for potential acquisitions, according to CFO John Boots.

CoolCo expects LNG carrier charter rates to strenghten

LNG carrier operator Cool Company (CoolCo) expects that LNG carrier charter rates will strengthen as several large projects come online and ramp up production volumes. The shipping firm noted that chartering activity during the second quarter remained subdued.

China’s Hengli wins orders for LNG-powered vessels

China’s Hengli Heavy Industry, a part of Hengli Group, has secured orders for LNG dual-fuel containerships and tankers.

EPS welcomes new LNG-powered PCTC in its fleet

Singapore’s Eastern Pacific Shipping took delivery of another LNG-powered pure car and truck carrier in China.