JFE STEEL SIGNS CHARTERS FOR 3 x JAPANESE BUILT DF NEWCASTLEMAXES

The deal represents the first long-term charters for an LNG-fuelled bulk carrier by JFE Steel, as well as the first order for LNG-fuelled vessels of this size from a Japanese shipyard. The dual-fuel Newcastlemax will achieve a 40% reduction in of CO2 emissions compared with the Energy Efficiency Design Index (EEDI) baseline.

The order confirms a recent acceleration in interest in LNG-fuelled propulsion from the bulk sector overall. It also represents the first order for a dual-fuel bulker from an end-user (steelmaker) in the seaborne iron ore and metallurgical coal markets. The Motorship notes that BHP, Rio Tinto and Anglo American have recently agreed long-term charters for the carriage of iron ore by dual-fuel bulker.

The newbuilding ordered by K-Line will also feature the first commercial installation of a French Seawing wind-assisted propulsion system upon a bulker. The Motorship reported that K Line was conducting trials upon the Seawing system in 2019. The system is mounted on the bow of the vessel and is unfolded via simple operation from the bridge under certain wind conditions.