Chinese owner Shandong Shipping is said to have lifted its Guaibamax bulk carrier newbuilding order at Qingdao Beihai Shipbuilding Heavy Industry to six vessels.
It is believed to have signed for two more methanol dual-fuelled 325,000-dwt ships at the yard some time ago, but the deal was not reported.
Officials at Shandong Shipping have been contacted for comment.
State-owned Qingdao Beihai is scheduled to deliver four vessels in 2027 and two in 2028.
The price of the newbuildings has not been disclosed but brokers estimate that the methanol dual-fuelled ships would cost at least $130m each.
Shipping sources said three Chinese leasing companies are the “real owners” of the Guaibamaxes and they have chartered the ships out to Shandong Shipping.
The shipping giant is said to have bareboat chartered the vessels against long-term contracts of affreightment from Brazil’s Vale.
Details of the charter and COA deals have not yet emerged.
Shipping players said Vale has been planning to replace some of its chartered conventional marine gasoil-powered VLOCs with new greener dual-fuel vessels to reduce its carbon footprint since 2023.
It was reported to have asked shipyards for quotes for 14 LNG and methanol dual-fuel ships.
Vale is also behind the order of two 325,000-dwt ore carriers that Cosco Shipping Bulk (Cosco Bulk) placed at Cosco Shipping Heavy Industry Yangzhou early this year.
Cosco Bulk said the ship is designed for large capacity to meet the loading of bauxite, iron ore and other goods of different densities.
It said the 325,000-dwt bulkers will be the world’s first large-scale methanol dual-fuel powered ore carriers to be put into operation. Cosco Bulk is scheduled to take delivery of the first vessel in the fourth quarter of 2026.
Vale has committed to a 40% cut in carbon emissions by 2030, in line with the goal of the International Maritime Organization.
The Rio de Janeiro-based company is one of the world’s top-three minerals producers. Vale’s iron-ore production output for 2023 reached 321m tonnes.
Two weeks ago, the mining giant said it is expecting its ore production volumes for 2024 to increase by between 3% and 4%, to between 323m and 330m tonnes.
