EPS Inks Dual Fuel LNG Charter Deal With RIO TINTO

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EPS entered into an agreement with Rio Tinto for three LNG dual-fuelled Newcastlemax vessels, with an option for three more, says a press release published on their website. 

About the agreement

Singapore-based tonnage provider Eastern Pacific Shipping (EPS) entered into an agreement with leading mining and metal producer Rio Tinto for three LNG dual-fuelled Newcastlemax vessels, with an option for three more. 

The 210,000 DWT ships will be built at New Times Shipbuilding and are scheduled for delivery starting from the second half of 2023. 

Reducing carbon footprint 

EPS’ ESG Policy 

LNG is a major component of EPS’ ESG Policy as it is a readily available and proven way to reduce greenhouse gas emissions. Over the past few years, EPS has developed deep expertise and knowledge in the cleaner alternative fuel. 

As a tonnage provider EPS is ordering a growing number of LNG-powered vessels for its charterers.

LNG dual-fuel shipping 

Rio Tinto is aiming to reduce its carbon footprint with use of LNG-fuelled vessels. “We are delighted to include LNG dual-fuel shipping into our future fleet,” said Ashley Howard, Chief Financial and Operating Officer, Commercial.  

By incorporating LNG, Rio Tinto looks to reduce its carbon footprint.

“We are delighted to include LNG dual-fuel shipping into our future fleet,” said Ashley Howard, Chief Financial and Operating Officer, Commercial. “This keeps Rio consistent with industry best practice and will provide additional opportunity to meet our emissions reduction goals and overall value management performance,” he said.

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Source: EPSShipping

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