Yangzijiang to Build Project Forward’s 20 LNG-Fueled Bulkers
- Business & Finance
China’s Jiangsu Yangzijiang Shipbuilding has signed a Letter of Intent (LOI) for the construction of up to twenty LNG-fueled bulk carriers for Forward Maritime, a part of Arista Shipping Group.
The Kamsarmax vessels, to be built under Arista Shipping’s Project Forward initiative, would feature 84,000 dwt.
Although Forward Maritime did not provide any details on when it expects to sign firm contracts for the units, it said that the bulk carriers are scheduled to join the fleet between 2020 and 2023.
Following delivery, the units will trade under the Forward Ships brand.
Project Forward, formed and led by Arista Shipping in 2013 to combat global ship emissions by promoting the adoption of LNG as marine fuel, suggested the design of the Kamsarmax-size bulk carrier to reduce the cost of transportation at sea, modernize the shipping industry and define the new standard of vessel for International Maritime Organization’s 2020 emission rules and beyond.
The partners of the project include Gaztransport & Technigaz, which has designed the containment systems, classification society American Bureau of Shipping, Shell Western LNG, Wärtsilä and ship designer Deltamarin.