High North Traders Built In China

The programme commissioned by US-headquartered Pangaea Logistics Solutions has entailed four 1A ice class, gearless vessels of 95,758dwt, assigned to Danish subsidiary Nordic Bulk Carriers.

The handover of the fourth newbuild, Nordic Siku, marked the conclusion of the first ice-breaking bulker project in southern China. The tonnage has been financed through a bareboat charter structure involving affiliates of Hong Kong-listed CSSC Shipping.

The investment has markedly strengthened Pangaea’s niche business capabilities in Arctic and sub-Arctic transportation. Lead vessel Nordic Nuluujaak made a transit of Russia’s Northern Sea Route (NSR) during late October and early November, transporting ore to China from Baffinland Iron Mines’ Milne Inlet terminal in the Canadian Arctic archipelago.

A long-term contract of affreightment with Baffinland was a cornerstone of the latest fleet development initiative. The new bulkers have been developed by Shanghai Merchant Ship Design & Research Institute (SDARI) with regard to the specific needs of shipping the particularly high-grade ore in challenging Arctic conditions.

To ensure the requisite ice-going power as well as open-water laden speeds, each of the ships is fitted with an MAN six-cylinder G60ME-C diesel, a design that can turn out 17,000kW at its nominal maximum continuous rating. Direct drive is made to a fixed pitch propeller, and the installation achieves IMO Tier III compliance by way of high pressure selective catalytic reduction (SCR) technology.

Pangaea’s quartet ranks among the most efficient tonnage available for Arctic trade and each vessel has DNV’s CLEAN citation.

While premium business in Arctic, sub-Arctic and Baltic regions is the key target, the new generation lends itself to the broad international spread of bulk commodity trading conducted by the company, including grains, iron products and steel feedstock, bauxite, alumina, coal, cement/clinker, dolomite and limestone.

Baffinland is currently permitted to ship 6m tonnes of iron ore per year from Milne Inlet in Nunavut. The Canadian corporation is looking to double shipments and to build a 110km railway between the Mary River mine and Milne Inlet and add a berth at the port to support the increased output.

The GSI-built bulkers have been placed under the husbandry of SCF Management Services (Dubai), and are registered at Majuro in the Marshall Islands.

MAIN PARTICULARS – Nordic Nuluujaak