Rio Tinto Charters Up to Six Bulkers from Eastern Pacific Shipping

Singapore-based tonnage provider Eastern Pacific Shipping (EPS) said on Tuesday it has entered into an agreement with mining and metal producer Rio Tinto to charter three newly built liquefied natural gas (LNG) dual-fueled Newcastlemax bulk carriers, with an option for three more.

The 210,000 DWT ships will be built in China at New Times Shipbuilding and are scheduled for delivery starting from the second half of 2023.

EPS CEO, Cyril Ducau, said, “This partnership between EPS and Rio Tinto is another important step forward for industry-wide decarbonization. We need like-minded companies to come together and use transitional fuels, like LNG, to get there. I am inspired by this partnership because it fulfills our sustainability ambitions and sends a clear signal that greener shipping is possible today.”

“We are delighted to include LNG dual-fuel shipping into our future fleet,” said Ashley Howard, chief financial and operating officer, commercial, Rio Tinto. “This keeps Rio consistent with industry best practice and will provide additional opportunity to meet our emissions reduction goals and overall value management performance.”