AsiaDry Cargo

Eastern Pacific and Rio Tinto enter charter for up to six dual-fuel LNG newcastlemaxes

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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