Singapore-based tonnage provider Eastern Pacific Shipping (EPS) has entered into an agreement with miner Rio Tinto for three LNG dual-fuelled newcastlemax vessels, with an option for three more. The 210,000 dwt ships will be built at New Times Shipbuilding and are scheduled for delivery starting from the second half of 2023. No price for the newbuilds has been revealed.
EPS CEO Cyril Ducau commented, “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. I am inspired by this partnership because it fulfills our sustainability ambitions and sends a clear signal that greener shipping is possible today.”
“We are delighted to include LNG dual-fuel shipping into our future fleet,” said Ashley Howard, Rio Tinto’s chief financial and operating officer, commercial. “This keeps Rio consistent with industry best practice and will provide additional opportunity to meet our emissions reduction goals and overall value management performance.”
Eastern Pacific has a fleet of over 170 vessels.