Polaris Shipping, South Korea's leading dry-bulk shipping company, has signed a contract with Hengli Heavy Industry (Dalian) for two firm plus two optional 210,000-DWT Newcastle-type bulk carriers. This marks Polaris Shipping's first newbuilding order in seven years and significantly boosts Hengli Heavy Industry's bulk carrier order backlog. The contract includes
two confirmed vessels with options for an additional two, each priced at approximately 80 million US dollars. Delivery of the newbuilds is scheduled for the second half of 2028. The bulk carriers will feature conventional-fuel propulsion systems equipped with scrubbers to comply with environmental regulations for deep-sea iron-ore shipping routes. This order reflects Polaris Shipping's strategic move to renew its fleet with large-capacity vessels designed for iron-ore transport. The adoption of scrubber technology aligns with current maritime environmental standards, ensuring the vessels meet emissions requirements. The deal also strengthens Hengli Heavy Industry's position in the bulk carrier newbuilding market.
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