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Pacific Basin Shipping (02343.HK) Adjusts Shipbuilding Plan, Replaces Planned Dual-Fuel Vessels with Conventional Fuel Vessels
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Pacific Basin Shipping (02343.HK) announced that, in light of uncertainties regarding the timing and specific details of the introduction of a global regulatory framework to promote the maritime green fuel transition, the company has reached an agreement with Nihon Shipyard Co. and Mitsui & Co. to terminate the contract signed in November 2024 for the construction of four 64,000-deadweight-tonne dual-fuel newbuilding Ultramax bulk carriers. At the same time, the company entered into new agreements with Nihon Shipyard Co. and Mitsui & Co. to replace the terminated contract, ordering four 64,000-deadweight-tonne conventional fuel newbuilding Ultramax bulk carriers featuring the latest energy-efficient designs, at a total consideration of approximately USD157 million. Delivery is expected between 2028 and mid-2029. The company stated that converting the order for four dual-fuel Ultramax vessels to conventional fuel vessels will reduce unnecessary near-term capital expenditure and represents a prudent financial response to uncertainties over the timing and specific details of the global regulatory framework. (ss/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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