Berge Bulk LNG-fuelled newcastlemaxes

Singapore based shipowner and operator Berge Bulk spend $540 million for up to eight (8) dual-fuelled newcastlemax bulk carriers with two (2) options. James Marshall led Berge Bulk has commissioned Shanghai Waigaoqiao Shipbuilding (SWS) to construct LNG-fuelled newcastlemax bulk carriers for delivery at the end of 2021 and in early 2022. Furthermore, Berge Bulk is in discussions with Qingdao Beihai Shipbuilding Heavy Industry for a similar newbuilding order. Berge Bulk is paying around $67 million for each LNG-fuelled newcastlemax bulk carrier newbuildings. Currently, conventional Tier III compliant newcastlemax bulk carrier costs around $53 million, LNG-fuelled newcastlemax bulk carrier costs an additional $14 million. Singapore based shipowner and operator Berge Bulk will become the first company to sign up for LNG-fuelled newcastlemax bulk carriers. Latest orders are in line with Berge Bulk’s fleet renewal and expansion. In 2019, Berge Bulk scrapped three (3) VLOCs (Very Large Ore Carriers):
• MV Berge Denali (289K DWT 1992 Built)
• MV Berge Manaslu (263K DWT 1992 Built)
• MV Berge Bureya (289K DWT 1993 Built)
In October 2019, Berge Bulk acquired 2014 built capesize bulk carrier 176K DWT Berge Orizaba (ex MV Bulk Success) from Shanghai HNA Marine Shipping for $24.5 million. In 2020, Berge Bulk is entering ultramax segment with the newbuilding deliveries of 63K DWT MV Berge Yotei and 63K DWT MV Berge Tateyama. Currently, Singapore based shipowner and operator Berge Bulk has a fleet of 71 ships.