EMEA News
Ultrabulk Cancels Order, Substitutes for ECO Ship
Danish shipping firm Ultrabulk Shipping A/S (Ultrabulk) says it has cancelled an order for two non-Eco charter vessels and has instead ordered a new ECO Supramax bulker that will drop fuel consumption 10 percent.
The company said it cancelled the order from the Zhoushan Jinhaiwan Shipyard Co. Ltd. in China after the yard did not finish construction within the contract's terms and instead ordered the new 61,000 dead weight tonne (dwt) bulker to be built in Japan.
"The market is still expected to create challenging conditions for the dry-bulk market within the foreseeable future, but with a solid cargo book already in place, it's a natural move for us to conclude our first new ECO-designed Supramax bulker," said Henrik Sleimann Petersen, head of Shipholding.
"By adding this latest ECO-design to our long term fleet, we show our continued support not only to our long term partners in Japan, but also to our long term global cargo partner, sending a strong signal that Ultrabulk is firmly committed to continued growth in the years to come."
The new ship will have an electronic main engine and systems that will improve fuel efficiency by 10 percent compared with similar size Supramax vessels and reduce carbon dioxide emissions by a similar percentage.
The ship is scheduled for delivery in 2015 and will be placed on a long-term time charter for up to 12 years, with Ultrabulk having the option to buy the vessel during the charter period.
In July, Ultrabulk announced that it had ordered a new handysize bulker that would provide a 15 percent reduction in fuel use.
