Eastern Pacific Shipping Expands Sustainable Fleet with Ammonia-Powered Bulk Carriers

Singapore-based Shipowner, EPS, Secures Four Additional Orders at CSSC Qingdao Beihai Shipbuilding, Reinforcing Commitment to Green Shipping

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Eastern Pacific Shipping (EPS), the maritime firm led by Idan Ofer, has expanded its commitment to sustainable shipping by securing additional orders for ammonia dual-fuel newcastlemax bulk carriers in China. The Singapore-based shipowner has finalized contracts for four more vessels, each boasting a capacity of 210,000 deadweight tons (dwt), at CSSC Qingdao Beihai Shipbuilding. This move brings EPS’s total order count at the shipyard to an impressive 10 vessels.

These new orders come in addition to the six vessels booked by EPS last year, all of which are scheduled for delivery between 2026 and 2027, as reported by shipbuilding databases. The company’s order portfolio now encompasses a diverse range of more than 70 ships, showcasing its commitment to a sustainable and efficient fleet.

Sources suggest that EPS is set to pay approximately $80 million per vessel, amounting to a total investment of $800 million for the entire order of 10 ships. This strategic investment aligns with the evolving landscape of alternative fuels in the maritime industry, as ammonia gains prominence alongside methanol.

In 2023, methanol emerged as the preferred fuel for newbuild projects, boasting a record of approximately 138 ships. However, ammonia also experienced a notable surge in popularity, with 11 vessel orders recorded last year. This shift towards ammonia underscores the maritime sector’s increasing focus on environmentally friendly fuel options, a trend expected to continue with more orders in the pipeline, according to insights from the classification society DNV.

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