New Times Shipbuilding is expected to win orders from mining giant BHP for five LNG Newcastlemax bulk carriers valued at $330 million, which will be the first LNG bulk carrier to be built by New Times.
Singapore-based Eastern Pacific Shipping (EPS) has signed a letter of intent with New Times to build five 208,000 DWT LNG-powered Newcastlemax bulk carriers The new ship is scheduled for delivery in 2022 and will be leased by BHP.
At the time, industry insiders speculated that the high cost of ships and the lower price of low-sulphur fuel might have been the main reasons for BHP to cut plans to build LNG - powered Newcastlemax bulk carriers.
A conventional Newcastlemax bulk carrier costs about $50m, while a standard LNG carrier of the same type costs about $64m each, and high prices mean BHP will have to pay higher rents.
So far this year, New Times has delivered 6 vessels, and ensured delivery of 28 ships throughout the year. At present, New Times Shipbuilding has an order for 59 ships with 8.15 million dwt, and the production task is scheduled to 2022.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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