Alphatanker, part of AXS Marine, is reporting that a landmark project for LNG-fuelled bulk carrier newbuildings is being scaled back.
Mining giant BHP’s widely reported Green Corridor project is being cut back in size by 65%.
BHP had put out a tender 11 months ago for up to 14 newcastlemax newbuilds to be powered by LNG fuel to move around 10% of its iron ore exports. Alphatanker is reporting that this tender has now been cut to five 208,000 dwt ships.
“So far, the dry bulk sector has lagged the cruise, ferry, liner and tanker sectors in taking up LNG with many plans put on the table by owners and charterers but no LNG-propelled bulker project has come to fruition as yet,” Alphatanker noted in its most recent weekly report.