Japan’s JFE Steel inks charter deals for three LNG-powered bulkers

Japanese steel manufacturer JFE Steel has signed long-term charter deals for three 210,000-ton LNG-powered bulk carriers.

JFE Steel said on Tuesday it would use the Newcastlemax vessels to transport iron ore and coal from overseas locations to its steelworks in Japan.

Moreover, the steel producer signed the three deals with compatriot shipping giants NYK Line, K Line, and MOL.

Designed by Nihon Shipyard, Japan Marine United but also Imabari Shipbuilding will build the LNG-powered vessels and deliver them from the beginning of 2024, according to JFE Steel.

With this move, JFE Steel says it would become the first company in Japan to deploy LNG-fueled ships in the 210,000-ton class.

Each ship will have an overall length of less than 300m, beam of up to 50m, freeboard of up to 25m and draft of up to 18.4m.

In addition, maximum gross tonnage will be 110,800 tons and deadweight capacity will be 210,000 tons.

“JFE Steel’s shift to LNG-powered transportation will support global efforts to create a more carbon-neutral world by reducing greenhouse gas emissions generated during international shipping,” the firm said.

JFE Steel said it also plans to consider using zero-emission ships powered by other eco-friendly fuels such as ammonia and carbon-recycling methane.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

More News Like This

MOL says it will consider both Chinese and Korean yards for new LNG carrier orders

Japan's MOL said it will consider both Chinese and South Korean yards for new orders of liquefied natural gas carriers. This follows recent media reports suggesting that MOL intends to suspend new LNG carrier orders to Chinese shipyards.

MOL orders LNG-fueled VLCC for charter to Idemitsu Tanker

Japan's shipping giant MOL has ordered a new LNG-fueled very large crude carrier (VLCC) to sail under a long-term time charter contract with compatriot Idemitsu Tanker.

China’s Hudong-Zhonghua delivers its 50th LNG carrier

Chinese shipbuilder Hudong-Zhonghua has delivered its 50th liquefied natural gas (LNG) carrier.

ONE plans LNG-powered containership order

Ocean Network Express (ONE), a joint venture of Japan's NYK, MOL, and K Line is eyeing an order for LNG dual-fuel container vessels, according to shipbuilding sources.