Shandong Shipping orders four methanol-fueled bulkers for charter with Vale

China state-owned shipping company Shandong Shipping Corporation has been linked to an order of four methanol dual fuel bulkers from compatriot Qingdao Beihai Shipbuilding Heavy Industry.

The 325,000 dwt vessels will be time chartered to Brazilian mining giant Vale, according to a recent report from Intermodal.

Each unit will cost $130 million, the Greece-based shipbroking and market research company informed.

The Capesize ore carrier quartet is scheduled for delivery between January and April 2027, data provided by VesselsValue shows.

The company has been on a major ordering spree for bulk carriers. In April this year, Shandong Shipping made a major investment in newbuild vessels by ordering twelve 82,000 dwt Kamsarmaxes at Jiangsu New Hantong Ship Heavy Industry. The 96,800 cbm ships, slated for delivery in 2024 and 2025, will be equipped with carbon capture and storage technology as the company strives to reduce carbon emissions of its fleet.

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Each of the bulkers is valued at about $33.5 million. The deal was reportedly the largest newbuild order ever made by Shandong Shipping.