EPS and Rio Tinto ink Dual Fuel LNG Charter
04 May 2021
Eastern Pacific Shipping and Rio Tinto enter charter for up to six dual-fuel LNG dry bulk carriers
SINGAPORE, 4 May 2021 – Singapore-based tonnage provider Eastern Pacific Shipping (EPS) announces it has entered into an agreement with leading mining and metal producer 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.
LNG is a major component of EPS’ ESG Policy as it is a readily available and proven way to reduce greenhouse gas emissions. Over the past few years, EPS has developed deep expertise and knowledge in the cleaner alternative fuel.
EPS CEO Cyril Ducau says, “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.”
By incorporating LNG, Rio Tinto looks to reduce its carbon footprint.
“We are delighted to include LNG dual-fuel shipping into our future fleet,” said Ashley Howard, 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,” he said.
About Eastern Pacific Shipping
With a history spanning 60 years, Eastern Pacific Shipping Pte. Ltd. (EPS) is a leading shipping company that is committed to the green and technology-driven growth of the industry. Headquartered in Singapore for the past 30 years, EPS is driven by its mission to be the safe and efficient transportation provider of choice to the shipping industry. Empowering that mission are 5,000 skilled and dedicated sea and shore staff that oversee a versatile fleet of 17 million deadweight-tonnes across three core segments of containership, dry bulk, and tanker vessels. EPS’ shore team is fully integrated with in-house commercial, finance, innovation, IT, legal, manning, operations, and technical departments.