Singapore's EPS, Rio Tinto sign charter deal
Singapore-based shipping company Eastern Pacific Shipping (EPS) has entered into a charter agreement with miner Rio Tinto for three LNG dual-fuelled Newcastlemax vessels, with an option for three more, it said on May 4.
The 210,000 dwt ships will be built at the Chinese shipyard New Times Shipbuilding and are scheduled for delivery starting from the second half of 2023.
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“This partnership between EPS and Rio Tinto is another important step forward for industry-wide decarbonisation,” EPS CEO Cyril Ducau said. “We need like-minded companies to come together and use transitional fuels, like LNG, to get there.”
By incorporating LNG, Rio Tinto's CFO Ashley Howard said, the company looks to reduce its carbon footprint.
“We are delighted to include LNG dual-fuel shipping into our future fleet,” said Howard. “This keeps Rio consistent with industry best practice and will provide additional opportunity to meet our emissions reduction goals and overall value management performance.”