Pacific Basin replaces dual-fuel bulker order with conventional-fuelled design
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by Admin
Hong Kong-listed dry bulk shipping company Pacific Basin Shipping Limited (Pacific Basin) on Thursday (16 April) has announced a change to and expansion of its newbuilding programme.
The company entered into agreements that replace its existing order for four 64,000 dwt dual-fuel Ultramax newbuilding vessels with four conventionally-fuelled Ultramax newbuildings of the latest fuel‑efficient design for an aggregate consideration of USD 156.8 million or USD 39.2 million each.
The ships will be built by Nihon Shipyard Co. and Mitsui & Co with deliveries expected between 2009 and mid-2029.
“This change significantly reduces unnecessary near-term capital expenditure and is a financially prudent response to renewed uncertainty around the timing and final shape of a global regulatory framework to drive the maritime green fuel transition, following the failure to adopt IMO’s previously agreed Net-Zero Framework in October 2025 amid political divisions between member states,” the company said in a social media post.
“The agreements also include an option to acquire two dual-fuel (methanol/fuel oil) Ultramax newbuildings, giving us flexibility to re-enter the LEV (Light Electric Vehicles) market later, should regulatory clarity improve,” it said.
Photo credit: Pacific Basin Shipping
Published: 17 April, 2026
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