EPS places orders for LNG dual-fuel tankers and ammonia bulkers

Singapore-based Eastern Pacific Shipping (EPS) has placed an order for two LNG dual-fuel oil tankers and four ammonia dual-fuel bulkers with Chinese shipyards.

The Idan Ofer-controlled diversified shipowner ordered two 111,000 dwt LNG dual-fuel LR2 product tankers from CSSC Guangzhou Shipbuilding International (GSI).

In June last year, the company ordered two such vessels from the shipyard with an option for two more vessels. The price tag for the first two vessels was $70m a piece, with delivery set for March and December of 2026. Although the company did not reveal any financial details for the latest deal, the total bill for the four vessels could reach $280m.

It is a very similar situation with the four newly ordered 210,000 dwt ammonia dual-fuel bulk carriers. EPS firmed up orders for three 210,000 dwt units at CSSC Qingdao Beihai Shipbuilding for delivery in 2027 in November last year. This is in addition to three vessels ordered earlier in 2023, set for delivery between the third and fourth quarters of 2026.

The company had options for four more vessels which have now been exercised. Eastern Pacific Shipping now has ten such ships on order. The agreed price for one vessel was $80m and since all options were exercised the price tag for all ten will be $800m.

The APOLO project, funded by Horizon Europe with more than €7.5 million, started on January 1, 2024. The acronym APOLO stands for “Advanced POwer conversion technoLogies based on Onboard ammonia cracking through novel membrane reactors”.

As informed, the technologies developed for the project will be capable of serving the estimated 30,000 ships with 1 to 10 MW propulsion in operation.