Project Forward, a joint development project funded by Greek company Arista Shipping, has announced that its affiliate Forward Maritime has signed a letter of intent with China’s Yangzijiang Shipbuilding for the construction of up to 20 LNG-fuelled bulk carriers.
The vessels will be trading under the Forward Ships brand, with deliveries scheduled between 2020 and 2023.
Project Forward was formed 2013 to combat global ship emissions by promoting the adoption of LNG as a marine fuel. The company introduced the design of a LNG-fueled kamsarmax bulk carrier, which aims to reduce the cost of transportation at sea and meet the new standard of vessel for IMO’s 2020 emission rules and beyond.
The partners of Project Forward include ABS, Shell, GTT, Wärtsilä and ship design firm Deltamarin.
Arista Shipping, which is controlled Alexander Panagopulos, currently runs a fleet of four bulk carriers.