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

Financing secured for Manzanillo LNG-to-power project

Manzanillo Gas & Power has secured financing for its Manzanillo LNG-to-power project in the Dominican Republic, which includes a floating storage and regasification unit (FSRU).

ALNG expects to enter LNG trading by year-end

Norway’s ALNG, the owner of two TFDE LNG vessels, expects to enter LNG trading with its first transaction by the end of this year, according to interim CEO Jens-Julius Ramdahl Nygaard.

ExxonMobil dishes out $1.1 billion in Rovuma LNG contracts

US energy giant ExxonMobil and its partners in the planned Rovuma LNG project in Mozambique have awarded $1.1 billion in pre-investment contracts for long-lead upstream equipment.

More News Like This

EPS wraps up 700th STS LNG bunkering op

Singapore’s Eastern Pacific Shipping has completed its 700th ship-to-ship LNG bunkering operation as the company’s fleet of LNG-fueled vessels continues to expand.

SK Shipping’s LNG fleet to rise to 32 vessels after asset swap deal

SK Shipping's fleet of liquefied natural gas (LNG) carriers will double to 32 vessels as part of an asset swap deal with H-Line Shipping announced by South Korean private equity firm Hahn & ​Co.

EPS seals refinancing deal for CoolCo LNG carriers

Singapore-based Eastern Pacific Shipping has signed a syndicated financing transaction for eleven liquefied natural gas (LNG) carriers owned by its unit CoolCo.

EPS in 600th STS LNG bunkering op

Singapore’s Eastern Pacific Shipping has completed its 600th ship-to-ship LNG bunkering operation as the company’s fleet of LNG-fueled vessels continues to expand.