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

China’s gas imports continue to rise

Natural gas imports during the last month reached about 11.99 million tonnes, rising 18.2 percent compared to 10.14 million tonnes...

PetroVietnam Gas to supply LNG to EVN’s power plant

According to separate statements by PV Gas and EVN, the duo signed the MoU on October 4. The deal includes...

Adnoc Gas drops plan to upgrade Das Island LNG export terminal

"While not proceeding with the LNG2.0 project, we will continue to invest in Das Island, particularly as it remains...

More News Like This

China’s XSI wins order from EPS to build LNG-powered tankers

XSI said in a statement on Monday the order includes four 113,600 dwt LNG dual-fuel vessels. The vessels, designed by...

H-Line, Hyundai Glovis take delivery of new LNG-fueled PCTC

China’s Guangzhou Shipyard International (GSI) has delivered another LNG-powered pure car and truck carrier to South Korean owner H-Line...

EPS hits new LNG bunkering milestone

Singapore’s Eastern Pacific Shipping has completed its 250th ship-to-ship LNG bunkering operation, as the company’s fleet of LNG-powered ships...

CoolCo eyes shorter deal ahead of long-term charter for first LNG newbuild

CoolCo has seven TFDE LNG carriers it acquired from Golar LNG and the four LNG carriers it purchased from its...