Fednav Orders 10 Bulk Carriers from Oshima

Canadian dry-bulk shipping company Fednav Limited on Thursday announced it has signed an agreement with Sumisho Marine Co., Ltd. (Sumitomo Corporation Group) and Oshima Shipbuilding to build 10 new oceangoing lakers. The ships will be built at Oshima shipyard in Japan, with the first vessel expected to be delivered in mid-2023.

The new Fednav-Oshima designed super-eco lakers represent Fednav's most efficient vessels to date, the company said. Their carbon emissions will be 33% less than the vessels they will replace, including a Nitrogen Oxides (NOx) footprint at least 87% smaller. They will be delivered equipped with Tier III engines and the capability of burning biofuels.

"We are delighted to include these new vessels to our fleet to support the shipping industry and reinforce our commitment to the Great Lakes St. Lawrence Seaway," said Paul Pathy, president and CEO of Fednav. "These new vessels are aligned with our long-term strategy to invest in our future and support our transition toward more sustainable shipping”.

Fednav currently operates a fleet of about 120 bulk carriers trading worldwide, of which 60 are owned.