Polaris Shipping orders four tri-fuel Newcastlemax vessels from CSSC Beihai Shipbuilding, enhancing eco-friendly shipping capabilities.
Polaris Shipping Secures Four Tri-Fuel Newcastlemax Vessels
South Korean Polaris Shipping has placed an order for four 210,000 dwt Newcastlemax ore carriers with CSSC Beihai Shipbuilding. The vessels will be equipped to use ethanol, methanol, and fuel oil, and will feature rotor sails, shaft generators, and high-voltage shore power systems.
The order weight of China's large dry bulk carriers has been strengthened by a new contract with high alternative fuel flexibility. According to a report by Seatrade Maritime dated August 5, CSSC Beihai Shipbuilding has signed a firm construction contract with South Korea's Polaris Shipping for four 210,000 dwt Newcastlemax vessels.
The propulsion system of the new vessels will be designed for the use of ethanol, methanol, and fuel oil. The project will also allow for future conversion to ammonia or LNG. The rotor sails, shaft generators, and high-voltage shore-power connection aim to reduce fuel consumption and, in particular, emissions in port.
90% Reduction Projected by the Shipyard
Beihai Shipbuilding announced that it anticipates approximately a 90% reduction in greenhouse gas emissions when operating in ethanol mode compared to heavy fuel oil. This figure is not an independent operational measurement; it is a shipyard projection dependent on the production method of the ethanol used, life cycle accounting, and the actual voyage profile. Therefore, it should not be presented as definitive environmental performance.
The contract price and exact delivery schedule have not been disclosed. Reports indicate that the shipyard's order book has exceeded 100 vessels and 23 million dwt, with some delivery slots extending to 2031. This intensity suggests that the delivery time and shipyard slot for modern Newcastlemax tonnage have become as strategic as the minimum vessel price.
China Received 82.3% of New Ship Orders by DWT in the First Half
According to official data from China's Ministry of Industry and Information Technology, Chinese shipyards completed the construction of 36.5 million dwt of vessels in the first half of 2026, accounting for 62.2% of the global total. New orders reached 121.06 million dwt, representing 82.3% of the global market, while the order book reached 363.25 million dwt, or 71.2% of the total.
Maritime Impact: The order indicates that a multi-fuel and conversion reserve strategy is emerging instead of tying the large dry bulk fleet to a single fuel. Beihai's delivery schedule extending to 2031 could create opportunities for Turkish shipyards and equipment manufacturers in niche vessels, conversion projects, and subsystem exports; however, it may also increase price and capacity pressure in standard large tonnage.
Source: SeaNews Türkiye
