Pacific Basin has replaced its order for four dual-fuel Ultramax newbuildings with four conventionally-fuelled Ultramax vessels featuring the latest fuel-efficient design. This adjustment reduces near-term capital expenditure amid uncertainty over the global regulatory framework for maritime green fuel,
following the failure to adopt IMO’s Net-Zero Framework in October 2025. The company also secured an option to acquire two dual-fuel Ultramax ships, allowing flexibility to re-enter the low-emission vessel market if regulatory clarity improves. Additionally, Pacific Basin agreed with JNS to order two more Handysize newbuildings, matching the design of four vessels ordered in December. The fleet renewal aims to meet customer demand, comply with tightening fuel-efficiency regulations, and support long-term shareholder value.
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