Lomar Returns to Chinese Yards for More

Lomar, a subsidiary of the Libra Group, has declared options on another five newbuildings and announced two new orders, all from Chinese shipyards.

Two of the options are for 1,100 TEU container ships from the Yangzijiang shipyard. They are designed by leading Chinese design institute SDARI (Shanghai Merchant Ship Design and Research Institute) and ships have much improved fuel consumption and the ability to carry up to 220 reefer containers. This leaves Lomar with two options still available from the shipyard.

Lomar has also declared another purchase option within its order for 2190 TEU container ships from China’s Guangzhou Wenchong Shipyard bringing the total firm orders to four. This vessel is due for delivery in 2016 and the company retains two more purchase options for sister vessels from this shipyard.

Finally, Lomar has significantly increased its commitment to ‘Ultramax’ bulk carriers from the COSCO Group in China by making firm two of the options that it held as well as announcing that it holds two new options to purchase. This means that Lomar now holds eight firm COSCO orders plus two remaining options.

The first of Lomar’s ‘Ultramax’ bulk carriers from COSCO will be delivered in January 2014. The ‘Dolphin’ 64,000 dwt vessels are SDARI designed and meet the highest standards for fuel efficiency and environmental compliance, including the latest IACS Common Structural Rules (CSR).

These latest developments take the company’s fleet to over 60 including purchase options.

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Press Release, January 22, 2014