Eastern Pacific adds three more 210,000-dwt bulker newbuildings to its original order at Qingdao Beihai Shipbuilding Heavy Industry
Idan Ofer-controlled Eastern Pacific Shipping has raised its tally of ammonia dual-fuelled newcastlemax bulker newbuildings at Qingdao Beihai Shipbuilding Heavy Industry by declaring options, according to TradeWinds.
Shipbuilding players following the newbuilding activities of the Singapore-based company said it had added three more 210,000-dwt bulker newbuildings to its original order for a trio of ships in August.
Eastern Pacific chief exec Cyril Ducau declined to comment on the company’s newbuilding activities when contacted.
A source familiar with the latest deal said the contract confirms Eastern Pacific’s belief in the viability of ammonia as a fuel.
In September, Eastern Pacific inked memorandums of understanding with parties including the Maritime & Port Authority of Singapore, American Bureau of Shipping, Lloyd’s Register and Chinese yards Qingdao Beihai Shipbuilding, Jiangnan Shipyard and HD Hyundai Heavy Industries to develop ammonia-burning engines.
The shipping outfit said the ammonia engines by MAN Energy Solutions would be an inflection point for the maritime industry and are expected to create a pathway for wide-scale adoption across shipping.
The diversified shipowning company disclosed that it has ordered ammonia dual-fuel propulsion systems for a series of very large ammonia carriers, or VLACs, and newcastlemax bulk carriers at Chinese shipyards. It also has two VLACs on order at HD HHI.
It was then reported to have contracted Jiangnan Shipyard to build six 93,000-cbm gas carriers and three 210,000-dwt bulk carriers at Qingdao Beihai Shipbuilding.
Sources said the latest three newbuildings at Qingdao Beihai were options.
Eastern Pacific is said to be paying about $80m per ship. The yard is slated to deliver the first three newbuildings between the third and fourth quarter of 2026 and the remaining three ships between the first and second quarter of 2027.
It is not known if Eastern Pacific has lined up employment for the six bulk carriers. But mining giants BHP and Rio Tinto are said to be planning to charter up to six ammonia dual-fuel newcastlemax bulkers to ship iron ore cargoes and the mining duo are potential charterers.
Eastern Pacific controls more than 250 vessels and 23m dwt across container ships, dry bulk and tankers.
