China Shipyards Benefit from Lomar Fleet Expansion

Lomar informs it has declared a further three options to build new container vessels at Chinese shipyards, which brings the total number of newbuilding orders in hand to over 20 ships.

The company has declared its final two options in a total order for six 1,100 TEU container vessels from the Yangzijiang shipyard. They are designed by leading Chinese design institute SDARI (Shanghai Merchant Ship Design and Research Institute) and have much improved fuel consumption and the ability to carry up to 220 reefer containers. The vessels will be named Toronto Trader, to be delivered in late 2015 and Tampa Trader, to be delivered in early 2016.

Lomar has also declared a further purchase option within its order for 2190 TEU container ships from China’s Guangzhou Wenchong Shipyard, bringing its total firm orders to five. This vessel is due for delivery in 2015 and is similarly a modern, fuel-efficient design from SDARI.

Other newbuildings within the Lomar fleet include eight firm orders and two purchase options for 64,000 dwt ‘Ultramax’ bulk carriers from the COSCO Group in China.

About Lomar
The company is the shipping subsidiary of the Libra Group, a diversified international business group. The company has a mixed fleet of vessels including containers, bulkers, chemical tankers and LPG as well as offshore vessels. Libra’s other transportation interests include its aviation leasing subsidiary, LCI, which is also involved in the offshore sector and has a recently placed order for a fleet of new generation helicopters from AgustaWestland and Airbus valued at close to $1 billion.