Eastern Pacific Shipping

The Singapore-headquartered Eastern Pacific Shipping (EPS), owned and operated under the leadership of Idan Ofer, has recently commissioned the construction of two LNG dual-fuel oil tankers and four ammonia dual-fuel bulk carriers from shipyards in China. This order includes two 111K DWT LNG dual-fuel LR2 product tankers from CSSC Guangzhou Shipbuilding International (GSI), reinforcing Eastern Pacific Shipping (EPS)’s commitment to diversifying its fleet with environmentally friendly vessels. In June 2023, Eastern Pacific Shipping (EPS) placed an initial order for two such vessels from GSI, with an additional option for two more LNG dual-fuel oil tankers. The acquisition cost for each of the first two LNG dual-fuel oil tankers stood at $70 million, with their respective deliveries scheduled for March and December of 2026. While the financial specifics of the subsequent agreement were not disclosed by the Idan Ofer-guided Eastern Pacific Shipping (EPS), the cumulative investment for all four LNG dual-fuel LR2 product tankers is estimated to potentially amount to $280 million. Similarly, Eastern Pacific Shipping (EPS) has confirmed orders for four 210K DWT ammonia dual-fuel newcastlemax bulk carriers. This follows the firming up of orders for three such vessels at CSSC Qingdao Beihai Shipbuilding, slated for delivery in 2027, as of November 2023. These orders build upon three earlier commissions in 2023, with expected deliveries stretching from the third to the fourth quarters of 2026. Eastern Pacific Shipping (EPS) had held options for an additional four 210K DWT ammonia dual-fuel newcastlemax bulk carriers, which have now been fully utilized, bringing the total to ten vessels of this type on order. The agreed price for each ammonia dual-fuel newcastlemax bulk carrier is $80 million, culminating in an $800 million expenditure for the ten vessels, highlighting Eastern Pacific Shipping (EPS)’s substantial investment in sustainable maritime transport solutions. Eastern Pacific Shipping (EPS) is a globally recognized shipowner and operator based in Singapore, specializing in a wide range of maritime services and vessels. Founded on a commitment to safety, environmental sustainability, and operational excellence, Eastern Pacific Shipping (EPS) operates a diverse fleet that includes container ships, dry bulk carriers, oil tankers, chemical tankers, and gas carriers. Under the visionary leadership of Idan Ofer, Eastern Pacific Shipping (EPS) has established itself as a leader in the maritime industry, particularly in the adoption of green technologies and sustainable shipping practices. Idan Ofer is a prominent figure in global shipping and business, known for his strategic foresight and investment acumen. As the principal of the Quantum Pacific Group, Idan Ofer’s interests span various sectors, including shipping, energy, and natural resources. His leadership at Eastern Pacific Shipping (EPS) has steered the company towards innovative solutions for reducing the environmental impact of shipping operations. This includes significant investments in dual-fuel technology, which enables vessels to operate using liquefied natural gas (LNG) or ammonia as cleaner alternatives to traditional heavy fuel oil. Eastern Pacific Shipping (EPS)’s recent orders for LNG dual-fuel oil tankers and ammonia dual-fuel bulk carriers from Chinese shipyards underscore the company’s commitment to leading the shipping industry’s transition to more sustainable fuels. By incorporating these advanced vessels into its fleet, Eastern Pacific Shipping (EPS) not only enhances its operational efficiency but also contributes to the global effort to combat maritime emissions and climate change. Under Idan Ofer’s guidance, Eastern Pacific Shipping (EPS) has been proactive in exploring and implementing eco-friendly technologies, setting a high standard for environmental stewardship within the maritime sector. Eastern Pacific Shipping’s (EPS) focus on sustainability, coupled with its robust fleet management and operational expertise, positions Eastern Pacific Shipping (EPS) as a forward-thinking and responsible player in the international shipping community. 28-February-2024

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has significantly expanded its portfolio of newcastlemax bulk carriers with ammonia dual-fuel capabilities. Eastern Pacific Shipping (EPS) has confirmed orders for four additional vessels, each with a capacity of 210K DWT, at CSSC Qingdao Beihai Shipbuilding in China. This latest order brings Eastern Pacific Shipping’s (EPS) total number of such ships at the yard to ten. These newly ordered ships follow the initial six ships booked last year, which are scheduled for delivery between 2026 and 2027. Singapore-based shipowner and operator Eastern Pacific Shipping’s (EPS) current order book is quite diverse, featuring over 70 new ships. The cost for each ammonia dual-fuel newcastlemax bulk carrier is believed to be around $80 million, amounting to a total of $800 million for all ten ships. In 2023, methanol emerged as the preferred fuel choice for newbuild projects, with approximately 138 ships recorded. However, last year also marked a significant shift towards ammonia as a marine fuel, evidenced by 11 new orders for ammonia-powered ships, with more expected in the future. This trend aligns with the data from the class society DNV, highlighting the growing interest in ammonia as a sustainable fuel alternative in the maritime industry. 21-January-2024

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) is increasing its investment in environmentally friendly shipping by ordering four more ammonia dual-fuel newcastlemax bulk carriers. This move aligns with the growing demand from companies like BHP and Rio Tinto, who are currently in the market for up to six newcastlemax bulk carriers for iron ore transportation. Idan Ofer-led shipowner and operator Eastern Pacific Shipping (EPS), known for its focus on steel transportation, is reportedly expanding its significant order book with these new dual-fuel bulk carriers. According to shipbrokers, Eastern Pacific Shipping (EPS) has revisited Qingdao Beihai Shipbuilding Heavy Industry in China to commission these 210,000 DWT ammonia dual-fuel newcastlemax bulk carriers, which are presumably optional additions to their existing orders. This latest agreement brings Eastern Pacific Shipping’s total number of similar ammonia dual-fuel ships ordered from Qingdao Beihai Shipbuilding Heavy Industry to ten. 3-January-2024

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS), led by CEO Cyril Ducau and owned by Idan Ofer, has committed to expanding its fleet with additional ammonia dual-fuel newcastlemax bulk carrier newbuildings in China. Diversified shipowner Eastern Pacific Shipping (EPS) has confirmed orders for three (3) more 210K DWT units at CSSC Qingdao Beihai Shipbuilding, scheduled for delivery in 2027. Additionally, Eastern Pacific Shipping (EPS) has placed four (4) more ammonia dual-fuel newcastlemax bulk carrier newbuildings as optional orders, potentially increasing its total orders at the yard to ten (10) bulk carriers. This recent order follows an earlier booking of three (3) ships this year, which are expected to be delivered between the third and fourth quarters of 2026, along with options for three (3) additional ships. It is believed that Eastern Pacific Shipping (EPS) is paying approximately $80 million per ship, amounting to a total of $480 million for six (6) ships, and potentially reaching $800 million if all the optional orders are exercised. This significant investment underscores Eastern Pacific Shipping’s (EPS) commitment to incorporating environmentally friendly technology in its fleet expansion strategy. 10-November-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS), led by CEO Cyril Ducau and owned by Idan Ofer, has intensified its commitment to ammonia dual-fuel bulk newcastlemax carriers in China. Eastern Pacific Shipping (EPS) has expanded its order for ammonia-powered newcastlemax bulk carriers at Qingdao Beihai Shipbuilding Heavy Industry. Originally, Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) had placed an order for three 210K DWT ammonia dual-fuel bulk newcastlemax carriers in August 2023. However, Eastern Pacific Shipping (EPS) has now exercised options to add three (3) more ammonia-powered newcastlemax bulk carriers to their order, bringing the total to six (6) ammonia dual-fuel newbuildings at Qingdao Beihai Shipbuilding. This expansion demonstrates Singapore-based shipowner and operator Eastern Pacific Shipping’s strong interest in this sustainable and innovative shipping technology. 30-October-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) is purportedly commissioning as many as six ammonia-propelled newcastlemax bulk carriers from Chinese shipyards. The procurement, entailing three (3) ammonia-propelled newcastlemax bulk carriers with an option for three (3) additional ammonia-propelled newcastlemax bulk carriers at Qingdao Beihai Shipbuilding Heavy Industry, is prevalently appraised by numerous shipbrokers to approximate $80 million for each ammonia-propelled newcastlemax bulk carrier, aggregating to $480 million in total. This contrasts with the conventionally fueled counterparts, which hold a valuation near $65 million in China. Additionally, methanol dual-fuel alternatives elevate the cost by approximately another $10 million. Idan Ofer-led shipowner and operator Eastern Pacific Shipping (EPS) will take the delivery of 210K DWT ammonia-propelled newcastlemax bulk carriers in 2026. These ammonia-propelled newcastlemax bulk carriers are equipped with the avant-garde dual-fuel engines crafted by MAN Energy Solutions. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) had the distinction of receiving the world’s inaugural dual-fuel LNG suezmax tanker in 2022, has forged an alliance with the Dutch firms OCI and MAN. This collaboration aims to pioneer methanol and ammonia-driven engines for an array of vessels, encapsulating the ammonia dual-fuel gas carrier. Up to this juncture, orders for bulk carrier new buildings have incorporated provisions for ammonia or methanol-readiness, anticipating potential retrofits as these fuels ascend to prominence. Noteworthy deviations to this trend, beyond Eastern Pacific Shipping’s (EPS) newcastlemax bulk carriers, encompass methanol-fueled kamsarmax bulk carriers commissioned by J. Lauritzen and Cargill in the preceding months. 5-September-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) controlled 2023 built dual-fueled newcastlemax bulk carrier 209K DWT MV Mount Cook’s LNG bunkering in Zhoushan garnered television spotlight. Featured prominently on China Central Television, Idan Ofer-led shipowner and operator Eastern Pacific Shipping’s pioneering LNG refuelling in Zhoushan marked a noteworthy first for the port. This avant-garde LNG replenishment venture has catapulted Eastern Pacific Shipping (EPS) to national prominence in China. The fuelling of the Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) controlled 2023 built dual-fueled newcastlemax bulk carrier 209K DWT MV Mount Cook was unprecedented at the anchorage just beyond Zhoushan port. MV Mount Cook is chartered by Anglo-Australian minerals and mining giant Rio Tinto. 29-August-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) stands on the cusp of commissioning the world’s inaugural ammonia-fueled bulk carriers. Esteemed companies like BHP and Rio Tinto might engage these ammonia-fueled bulk carriers, propelled by the sophisticated MAN ES engines. Idan Ofer-led Eastern Pacific Chartering (EPC) is on the brink of sealing an agreement for the globe’s pioneering ammonia-fueled bulk carrier constructions in China. The imminent accord for these six (6) ammonia dual-fueled 210K DWT newcastlemax bulk carriers, which is nearing its culmination, carries an estimated worth of approximately $480 million in its entirety. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) CEO Cyril Ducau proclaimed his firm’s unwavering dedication to the advancement of alternative fuel sources. 24-August-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) sold 2012 built capesize bulk carrier 175K DWT MV Mount Apo to Hamburg-based shipowner and operator Peter Döhle for around $24.7 million. Hamburg-based shipowner and operator Peter Döhle has gracefully expanded its collection of dry bulk carriers by acquiring the company’s grandest bulk carrier yet. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) is led by Idan Ofer. 2012 built capesize bulk carrier 175K DWT MV Mount Apo was constructed at Jiangsu Rongsheng and outfitted with a scrubber. Hamburg-based shipowner and operator Peter Döhle’s dry bulk division commands and oversees around 30 bulk carriers. 21-August-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has inked a Framework Cooperation Agreement (FCA) to forge a partnership focused on the creation of renewable energy and eco-friendly fuel solutions with China Power International Development Limited. Per this accord, both Idan Ofer-led shipowner and operator Eastern Pacific Chartering (EPC) and China Power International Development Limited will jointly endeavor to pioneer and promulgate sustainable energy resolutions for the maritime sector, notably including green ammonia and verdant methanol. Eastern Pacific Chartering (EPC) and China Power International Development Limited acutely acknowledge the urgent imperative to shift to low-emission alternatives. Eastern Pacific Chartering (EPC) and China Power International Development Limited alliance will permit them to harness their mutual expertise and thus hasten advancements in this crucial domain. The initiation of this Framework Cooperation Agreement (FCA) coincides with a period wherein the momentum for alternative marine fuels and innovative power methodologies has reached unprecedented levels. A plethora of governmental edicts and lofty corporate environmental pledges underscore the unequivocal consensus that sustainability initiatives require expedited momentum. This concord will equip both sectors with pragmatic and expansive solutions conducive to worldwide decarbonization and the conservation of our environment. In the preceding months, Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has secured several distinguished contracts. In May, Eastern Pacific Shipping (EPS) formalized an agreement for the procurement of four (4) expansive ammonia bulk carriers from China’s esteemed Jiangnan Shipbuilding. A mere few days subsequent to this, Eastern Pacific Shipping (EPS) committed to two (2) 115K DWT tanker new buildings from CSSC Guangzhou Shipyard International, retaining an option for an additional pair. 23-July-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has elegantly seized upon Elantra’s contemporary suezmax tanker, committing a substantial sum of approximately $76 million. Idan Ofer-led Eastern Pacific Chartering (EPC) has acquired the 2018 built MT Elandra Osprey (ex MT Energy Trophy) from the Vitol-endorsed consortium. MT Elandra Osprey (ex MT Energy Trophy), in its earlier venture, procured this tanker from the Restis family’s tanker entity, Golden Energy Management for a sum of $62 million back in 2019. The valuation of pre-owned crude carriers has escalated, touching a pinnacle unseen in a decade and a half, propelled by the reshaped international oil commerce in the aftermath of Russia’s encroachment upon Ukraine. In this fervent marketplace, where the quest for obtainable tonnage has secondhand vessels nearing the price tags of newly minted ones, BIMCO’s (Baltic and International Maritime Council) premier shipping connoisseur, Niels Rasmussen, earlier this annum, highlighted a surge in the worth of suezmax tankers with five years under their belt, at a staggering 85% of freshly commissioned tankers. This transaction, a premiere of its nature this year, has already sculpted a standard for recently constructed South Korean suezmax tankers. 27-June-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has solidified its commitment to additional tanker constructions with CSSC Guangzhou Shipyard International (GSI). Idan Ofer-led shipowner and operator Eastern Pacific Chartering (EPC) has secured a reservation for as many as four (4) LNG dual-fuel aframax/LR2 product tankers. The duo of resolute 115K DWT tankers, each valued at an approximate $70 million, are slated for delivery in March and December of 2026. Furthermore, the agreement presents opportunities to acquire two additional tankers, potentially elevating the entire transaction to a grand total of $280 million. Singapore-based shipowner and operator Eastern Pacific Shipping’s (EPS) renewed engagement with CSSC Guangzhou Shipyard International (GSI) is reminiscent of their groundbreaking collaboration which resulted in the world’s premiere dual-fuel LNG suezmax tanker in 2022. 7-June-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has penned an agreement for four (4) VLACs (Very Large Ammonia Carriers) with Jiangnan Shipbuilding. These 93,000 cubic meters vessels represent the inaugural VLACs (Very Large Ammonia Carriers) commissioned in China. These 230-meter long LPG dual-fueled marvels are capable of conveying ammonia, as well as other liquefied petroleum gases, encompassing propane and butane. This recent acquisition further cements Jiangnan Shipbuilding’s predominant stature in the realm of VLACs (Very Large Ammonia Carriers), with the Jiangnan Shipbuilding boasting about a quarter of the worldwide market share for this particular vessel classification. 7-May-2023

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has heralded the triumphant installation of Value Maritime’s Filtree mechanism aboard its managed MT Pacific Cobalt, in the illustrious port of Rotterdam. This exquisite Filtree system, adept in purifying sulphur and eliminating an astounding 99% of particulate contaminants, encompasses Value Maritime’s innovative carbon capture and storage (CCS) module. This module boasts the capability to ensnare up to 40% of CO2 emanations from both the vessel’s primary and supplementary engines. The CO2 is ensnared using a bespoke chemical, judiciously stored within an onboard reservoir, which, during the retrofitting process, was meticulously recoated and repurposed for this exact intent. This reservoir now brims with ample space, effortlessly capturing in excess of 200 tonnes of CO2 during a singular maritime journey. Upon reaching its capacity, the chemical is expertly siphoned out upon docking and handed over to prospective beneficiaries, including greenhouse enterprises or synthetic fuel magnates, granting them the luxury to liberate the CO2 at their discretion. Additionally, the CO2 holds the potential to integrate into carbon sequestration channels, post which, the chemical is diligently returned to the vessel, primed for another cycle of CO2 capture. In Singapore-based shipowner and operator Eastern Pacific Shipping’s (EPS) relentless quest for impactful change, Eastern Pacific Shipping (EPS) curated a diverse spectrum of solutions tailored for myriad vessel categories. The initiation of this state-of-the-art gas purification system dawned in the brisk mid-January of 2023 in Rotterdam, reaching its culmination in a mere 17 days. 15-February-2023

 

The United States has proclaimed that Iran orchestrated the recent assault on Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) controlled product tanker MT Pacific Zircon. Idan Ofer-led Eastern Pacific Chartering (EPC) reported that product tanker MT Pacific Zircon, laden with gas oil, encountered a missile strike in international waters approximately 150 miles from Oman on a Tuesday. Fortunately, all onboard personnel were unscathed, though the aft section of the MT Pacific Zircon bore some trivial damages. Having meticulously evaluated the accumulated data, US National Security Adviser assert with conviction that Iran executed this assault utilizing a UAV, a lethal mechanism they’re progressively wielding both directly and through their allies across the Middle East. The authoritative voice of the US Central Command announced today that the strike was the handiwork of an Iranian-constructed drone. An Iranian-origin unmanned aerial apparatus orchestrated a unilateral strike on the product tanker MT Pacific Zircon. While the perpetrator of the assault remains unidentified, Iran stands prominently under scrutiny. Recounting past events, a product tanker MT Mercer Street, managed by Eyal Ofer’s Zodiac Maritime, was beleaguered by drone strikes near Oman’s coast in the Arabian Sea. 16-November-2022

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has clinched an enduring charter agreement with the American maritime and logistics conglomerate, Crowley, encompassing four (4) LNG-propelled ontainerships. Commissioned to be crafted by the illustrious Hyundai Mipo Dockyard of Korea, these 1,400 TEU our (4) LNG-propelled ontainerships are set for a grand unveiling in 2025. This addition will enhance Crowley’s illustrious fleet, fortifying the logistical linkages from US terrains to the shores of Nicaragua, Honduras, Guatemala, and El Salvador. These quartet of maritime marvels are pivotal in propelling Crowley’s ambitious expansion within our logistical endeavours across the United States, Central America, and the Caribbean. Moreover, their adoption of LNG and state-of-the-art emissions mechanisms underscores our unwavering allegiance to groundbreaking innovation and a decarbonised maritime sphere, resonating with Crowley’s overarching sustainability vision. Endowed with sophisticated high-pressure ME-GI engines, procured from MAN Energy Solutions, these four (4) LNG-propelled ontainerships are designed to diminish methane emissions to almost imperceptible magnitudes, thereby cementing their stature as the zenith of environmental efficiency in their echelon. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) CEO Cyril Ducau stated that upon their majestic debut, these four (4) LNG-propelled ontainerships shall epitomize IMO (International Maritime Organization) 2030 compliance a commendable half-decade in advance, poised to play a pivotal role as both the global arena and maritime sector pivot towards purer energy paradigms. 19-September-2022

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) commissioned an ammonia dual-fuel gas carrier. In accordance with a meticulously drafted MOU (memorandum of understanding), ammonia dual-fuel gas carrier is set to be constructed by the renowned South Korean shipbuilding magnate, Hyundai Heavy Industries (HHI). Ammonia dual-fuel gas carrier shall be categorized by the prestigious American Bureau of Shipping (ABS) and will proudly sail under the distinguished flag of Singapore.Eastern Pacific Shipping (EPS) divulged that this ammonia dual-fuel gas carrier will stand as a pioneering entity, being the inaugural ship to be bestowed with a MAN Energy Solutions G60 two-stroke dual-fuel ammonia engine and with anticipations of its inaugural voyage as early as the year 2025. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) CEO Cyril Ducau stated that the our maritime sector is poised at a juncture where diversification is imperative to incrementally diminish and ultimately eradicate emissions. This compels Eastern Pacific Shipping (EPS) to unceasingly channel resources and innovation into alternative marine fuels. Ensuring the right solution for the right segment at the precise moment is paramount. Transitioning to ammonia as a quintessential marine fuel is, for Eastern Pacific Shipping (EPS) and the broader shipping ndustry, the next epochal leap forward. 5-June-2022

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has elegantly acquired four LNG carriers formerly under the ownership of Russia’s Sovcomflot, sealing the deal for a sum slightly exceeding $700 million. Idan Ofer-led shipowner and operator Eastern Pacific Chartering (EPC) procured these LNG carriers from the revered Dutch financial institution, ING. These LNG carriers, christened MT SCF Timmerman, MT SCF Barents, MT SCF Mitre, and MT SCF Melampus, carry prestigious charters associated with Shell. In light of the stringent sanctions imposed by the EU and UK governing bodies, financial institutions were endowed with a transitional grace period to disengage from Russian contractual bindings, mandating a definitive severance with Russian corporations by May 15. Russian shipowner and operatorSovcomflot, reflecting upon its strategic assets, expressed aspirations to divest a portion of its fleet. Novoship, a notable subsidiary of Sovcomflot, successfully offloaded two vessels, fetching a handsome amount of approximately $14 million for two seasoned 47K DWT ships crafted by Hyundai Mipo, illustriously named Pamir and Elbrus. In the initial tumultuous days of the conflict with Ukraine, another pair of vessels of equivalent age, an MR and an aframax, found new ownership. The ship formerly known as MT Tuchkov Bridge has been rebaptized as MT Valor, and the 2005-built aframax, once called MT Cangjie, now sails under the title MT NS Challenge. 15-May-2022

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has chosen to commission two additional LNG-powered car carriers from China Merchants Jinling Shipyard. This transaction forms an extension of the preliminary agreement, each with a capacity of 7,000 CEU, the previous year, incorporating a provision for an added pair for around $87 million apiece. The financial details for the newly contracted duo, scheduled for completion in 2025. In the preceding June, Idan Ofer-led shipowner and operator Eastern Pacific Chartering (EPC) had also engaged in a contract for up to six (6) car carriers anticipated for delivery in 2024. With this recent decision, Eastern Pacific Chartering’s (EPC) procurement ledger now enumerates a total of twelve vessels, each ranging between 7,000 CEU to 7,050 CEU in capacity. 13-February-2022

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has prohibited the shipping of coal on the company’s bulk carriers. Idan Ofer-led Eastern Pacific Chartering (EPC) is the foremost prominent shipowner to adopt the no coal cargo policy. Eastern Pacific Shipping (EPS) is cleaning up the companies by renouncing the most contaminated fossil fuel. Eastern Pacific Shipping (EPS) declared the coal ban in the company’s 2022 ESG Policy (Environmental, Social, and Governance Policy) this week. Idan Ofer-controlled shipowner and operator Eastern Pacific Shipping (EPS) supports the Glasgow Climate Pact that targets the phasing down of coal, which is considered the most important contributor to climate change. Eastern Pacific Shipping (EPS) believes that decarbonization is not solely about decreasing engine emissions. Eastern Pacific Shipping (EPS)) strives to play a miniature role in creating one of the world’s most harmful contaminants that is hard to access. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) is dedicated to preserving the marine ecosystem and the environment. In November 2021, six European dry bulk shipping companies aim to decrease transportation coal. Diversified shipowner and operator Eastern Pacific Shipping (EPS) one of six founding partners of the Global Centre of Maritime Decarbonisation, has also partnered with Singapore-based Nanyang Technological University for an ammonia bunker investigation. Eastern Pacific Shipping (EPS) has evolved into a shipping industry leader in the energy transition. Eastern Pacific Shipping (EPS) bulk carriers are commercially managed by Idan Ofer-led Eastern Pacific Chartering (EPC). Currently, Eastern Pacific Shipping (EPS) owns and operates 38 bulk carriers that comprise 13 LNG dual-fuel newcastlemax newbuilding bulk carriers. 24-January-2022

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has entrusted GoodFuels with the provision of biofuel for its sophisticated 2010 built MR tanker 47K DWT MT Pacific Beryl. GoodFuels delivered an exquisite bio-fuel oil analogous to residual fuel to MT Pacific Beryl. This fuel’s efficacy is slated to undergo rigorous evaluation onboard the MT Pacific Beryl, and will subsequently be scrutinised across other distinguished vessels under the purview of Eastern Pacific Shipping (EPS) in the imminent future. Idan Ofer-led shipowner and operator Eastern Pacific Chartering (EPC) articulated that their embrace of biofuels resonates with their holistic environmental, societal, and governance ethos, which vehemently advocates for the exploration and incorporation of diverse marine alternative fuels to profoundly curtail greenhouse gas emissions in the present epoch. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) holds the conviction that such alternative marine fuels are pivotal bridging solutions that will inexorably chart the course for a comprehensive maritime decarbonisation, ensuring nature’s sanctity for the epochs to come. 15-October-2020

 

Court battle emerged from a charter of Idan Ofer-led Eastern Pacific Chartering (EPC) controlled 2019 built ultramax bulk carrier 61K DWT MV Divinegate by Pola Maritime in 2019. MV Divinegate was re-delivered to Eastern Pacific Chartering (EPC) after less than two months, but a dispute broke out over unpaid hire. Pola Maritime announced the company was setting off numerous costs and expenses it claimed to have incurred during the charter, which was governed by English law. To secure its claims for funds owed, Eastern Pacific Chartering (EPC) arrested 2012 built handysize bulk carrier 37K DWT MV Pola Devora in Gibraltar on 2 July 2020. Eastern Pacific Chartering (EPC) told that the company examined Lloyd’s List Intelligence report that described Pola Maritime as the beneficial owner of MV Pola Devora. Nevertheless, Pola Maritime was simply the time charterer and the actual owner was Pola Rise OOO. Eastern Pacific Chartering (EPC) released MV Pola Devoraon on 6 July 2020. However, Eastern Pacific Chartering (EPC) denies the arrest was wrongful. Eastern Pacific Chartering (EPC) has claimed approximately $100K in London, while Pola Maritime has counterclaims of up to $139K, plus a claim for damages of $54K in the wrongful-arrest dispute. The wording of the sole English jurisdiction clause in the charter party was adequately wide to allow Pola Maritime to make the wrongful arrest claim in the United Kingdom. English Court’s commitment to upholding exclusive jurisdiction clauses and to construing them in a form that allows adequately related or connected claims to be dealt with in the same forum. Under the 1952 Arrest Convention, any claim for damages for wrongful arrest should be dealt with under the law of the country where that ship arrest took place. 15-July-2021

 

Singapore based shipowner and operator Eastern Pacific Shipping (EPS) has embraced aboard the students which are children of Eastern Pacific Shipping (EPS) employees. Idan Ofer-led Eastern Pacific Shipping (EPS) established The Sammy Ofer EPS Scholarship Fund in honor of his father Sammy Ofer. Due to coronavirus pandemic, a welcome ceremony was held online. The Sammy Ofer Eastern Pacific Shipping (EPS) Scholarship Fund offers scholarships to the children of Eastern Pacific Shipping’s (EPS) employees. Sammy Ofer and the Ofer family have continuously appreciated education and hard work as the foundations of success. Children of Eastern Pacific Shipping’s (EPS) employees will be able to study at universities in their home countries. 13-August-2020

 

Singapore based shipowner and operator Eastern Pacific Shipping (EPS) has ordered five (5) LNG-fuelled newcastlemax bulk carriers 208K DWT at New Times Shipbuilding, China. Eastern Pacific Shipping’s (EPS) order is backed by a charter deal with iron ore giant BHP. New Times Shipbuilding is going to deliver the first newcastlemax bulk carrier in 2022 to Eastern Pacific Shipping (EPS). Eastern Pacific Shipping’s (EPS) charter deal is going to start in 2022 with BHP. Idan Ofer-led Eastern Pacific Shipping (EPS) is going to pay $66 million for each LNG-fuelled ­newcastlemax bulk carrier. In December 2019, Eastern Pacific Shipping (EPS) ordered LNG-fuelled newcastlemax bulk carriers 209K DWT at Shang­hai Waigaoqiao Shipbuilding (SWS). Aussie iron ore giant BHP has been showing interest in chartering cleaner LNG-fuelled ships. 22-July-2020

 

Singapore based shipowner and operator Eastern Pacific Shipping (EPS) sold 2019 built ultramax bulk carrier 61K DWT MV Divinegate for around $23 million. In 2017, Eastern Pacific Shipping (EPS) ordered MV Divinegate at Dalian Cosco KHI Ship Engineering. To completely focus on capesize segment, Eastern Pacific Shipping (EPS) has been selling handysize and ultramax bulk carriers. In March 2020, Idan Ofer led Eastern Pacific Shipping (EPS) 2010 built supramax bulk carrier 53K DWT MV Bridgegate for $10 million. Eastern Pacific Shipping’s (EPS) handysize bulk carriers are advancing the 10-year life-span which will attract many shipowners. Eastern Pacific Shipping (EPS) put its supramax fleet into the C Transport Maritime (CTM) Pool. Eastern Pacific Shipping (EPS) operates most of its handysize bulk carriers on short period charters or spot voyages. Eastern Pacific Shipping (EPS) chartered-out panamax bulk carriers to Indian mining companies. 10-June-2020

 

Singapore based shipowner and operator Eastern Pacific Shipping (EPS) sold 1993 built VLOC (Very Large Ore Carrier) 290K DWT MV Shagang Giant to green ship recycling in India. However, MV Shagang Giant demolition deal was hit by Indian coronavirus lockdown in India. MV Shagang Giant sale did not materialize as force majeure was called by the Indian authorities on ships calling at Indian ports due to coronavirus pandemic. MV Shagang Giant steamed to Karachi from India. Under Eastern Pacific Shipping’s (EPS) new corporate ship recycling policy, MV Shagang Giant was sold to India based Shree Ram ship-breaking yard which is in line with environmental, social, and governance (ESG) prospectus. MV Shagang Giant was sold to Indian ship-breaking yard Shree Ram at the beginning of 2020 for $370 per ldt (Lightweight Displacement Tonnage). Green ship-breaking yard Shree Ram is very well known as one of India’s most advanced demolition yards in terms of its environmental and safety standards. Green ship-breaking yard Shree Ram is closely connected to cash buyer NKD Maritime and has been serving giant shipowners such as Gearbulk and NYK Line. According to sale and purchase (S&P) shipbrokers, MV Shagang Giant will be scrapped in Karachi. Although, Pakistan does not have any ship-breaking yards in line with Eastern Pacific Shipping’s (EPS) environmental policies. Currently, Eastern Pacific Shipping’s (EPS) fundamental focus is the health and safety of people. Eastern Pacific’s environmental, social and governance (ESG) policy commits the company to scrap ships at green ship-breaking yards which have a statement of compliance with the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships. Unfortunately, Indian lockdown due to coronavirus has been preventing ships from beaching in India and other ship recycling centers in the subcontinent and the Far East. 21-April-2020

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) has ordered LNG dual-fuelled newcastlemax bulk carriers for around $560 million at China State Shipbuilding Co (CSSC). Up to now, Idan Ofer-led Eastern Pacific Shipping (EPS) invested a total of $3 billion in LNG dual-fuelled newbuildings. Previously, Diversified shipowner and operator Eastern Pacific Shipping (EPS) ordered two (2) LNG dual-fuelled newcastlemax bulk carriers at state-owned Shanghai Waigaoqiao Shipbuilding (SWS) with two (2) options. On the same occasion, Eastern Pacific Shipping (EPS) ordered two (2) LNG dual-fuelled suezmax tankers at Guangzhou Shipyard International (GSI) with two (2) options. Idan Ofer-led Eastern Pacific Shipping (EPS) is preparing to order the LNG-fuelled crude carriers. When Eastern Pacific Shipping (EPS) receives the delivery of LNG dual-fuelled ships will be emitting extremely less greenhouse gasses than current ships. Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) is assured to be operating with the China State Shipbuilding Co (CSSC) to cooperate for decarbonization and the conservation of the environment. Currently, China State Shipbuilding Co (CSSC) is the world’s biggest shipbuilding group. Furthermore, Eastern Pacific Shipping (EPS) has 17 LNG-fuelled containerships secured at Hyundai Heavy Industries and LNG dual-fuelled LR2 tankers under construction at New Times Shipbuilding. Giant mining companies are showing interest in chartering Eastern Pacific Shipping’s (EPS) cleaner LNG fuel-burning bulk carriers. Eastern Pacific Shipping (EPS) bulk carriers are commercially managed by Idan Ofer-led Eastern Pacific Chartering (EPC). 5-December-2019

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) controlled fleet increases by almost $700 million in a year. Furthermore, diversified shipowner and operator Eastern Pacific Shipping (EPS) ordered $1.8 billion worth of vessels. Currently, Idan Ofer-led Eastern Pacific Shipping (EPS) held its rank as Singapore’s biggest shipowner. In 2018, Eastern Pacific Shipping (EPS) ordered four (4) LR2 tankers and seven (7) ULCVs (Ultra Large Container Vessels). After Eastern Pacific Shipping (EPS), Singapore’s biggest shipowners are Ocean Network Express (ONE), Ocean Tankers, Pacific International Lines (PIL), and Hafnia respectively. 10-April-2019

 

Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) put the company’s supramax fleet in CTM Pool (C Transport Maritime Pool). Idan Ofer-led Eastern Pacific Shipping (EPS) controlled supramax bulk carriers joined the RSA (Supramax Revenue Sharing Agreement). In 2017, Eastern Pacific Shipping (EPS) joined the RSA (Supramax Revenue Sharing Agreement) with one ship. Afterward, Eastern Pacific Shipping (EPS) added four (4) supramax bulk carriers to the RSA (Supramax Revenue Sharing Agreement). CTM Pool (C Transport Maritime Pool) stated the return of the Eastern Pacific Shipping (EPS) emphasized the core strengths of the RSA (Supramax Revenue Sharing Agreement), which is its flexibility. CTM Pool (C Transport Maritime Pool) controlled the RSA (Supramax Revenue Sharing Agreement) has no minimum period and just a three-month exit notice, plus no withdrawal fees and zero day-to-day management expenses. RSA (Supramax Revenue Sharing Agreement) only charges a 1.25% commission. Currently, CTM Pool (C Transport Maritime Pool) controlled RSA (Supramax Revenue Sharing Agreement) has 17 members with 65 bulk carriers. Eastern Pacific Shipping (EPS) bulk carriers are commercially managed by Idan Ofer-led Eastern Pacific Chartering (EPC). 4-April-2019

 

Idan Ofer led Singapore based shipowner and operator Eastern Pacific Shipping made a quick profit on a capesize dry bulk carrier which was bought for $18 million in November 2016 and sold for $28 million. Eastern Pacific Shipping bought capesize dry bulk carrier 2009 built 179K DWT MV Mount Meru (ex MV Hanjin Cape Lambert) for just $18 million in November 2016 from bankrupted Hanjin Shipping. Now, Eastern Pacific Shipping sold the ship to Arne Blystad’s Songa Bulk for $28 million. Singapore based shipowner and operator Eastern Pacific Shipping has a fleet of 80 ships. 13-April-2017

 

Eastern Pacific Shipping bought 2016 Japanese built capesize bulk carrier 180K DWT M/V Aquacargo which is the second similar capesize bulk carrier acquired for $33 million. In January 2016, Eastern Pacific Shipping bought 182K DWT MV Mount Hermon (ex MV Megalodon) from Star Bulk Carriers for $35 million. 8-March-2016