Bahamian shipowner Campbell Shipping Ltd. has signed an order with Tsuji Heavy Industries (Jiangsu) Co., Ltd. located at Zhang Jia Gang, China for two 37,500 dwt double-hull log fitted bulk carriers, with an option for two more.

These ships, which will be classed by ABS and fly the Bahamas flag, will be 179.9 meters length overall, with a 30.4 meters beam, a scantling draft of 10.2 meters and a service speed of 13.9 knots. Their prime movers will be MAN B&W 5S50ME-9.2 Tier II diesels, one of the engine maker's latest and most fuel efficient Tier II compliant engines.




"We consider this an excellent fuel efficient futuristic design, complying with most up-to-date rules and regulations and meeting anticipated commercial requirements," said Lowell Mortimer, Chairman and CEO of Campbell Shipping, on behalf of the buyers. "The vessels represent what the maritime industry has come to expect from GTRC: a good ship at a fair price for both buyer and seller, built to high quality standards and delivered on time." 

The vessels are being built to the "Seatransporter" series design developed by Nassau, Bahamas, based Algoship Designers, with basic, classification and production designs produced by Smart Engineering and Design Solutions Ltd. (SEDS), an engineering firm with offices in Nassau and Kochi, India. Both companies are affiliates of the GTR Campbell Marine Consultants (GTRC), which will be providing project management services in the shipyard .

ABS and Algoship closely cooperated during the design development of the Seatransporter design including detailed full ship FEM analysis. . Extensive CFD, resistance, self propulsion, maneuvering, seakeeping and cavitation tests were carried out the Wageningen and Berlin facilities of MARIN (Maritime Research Institute of the Netherlands). MARIN played a significant role in the research and development carried out by Algoship on hull forms and energy saving devices for the Seatransporter design.

"This contract is the first bright light in today's otherwise dark newbuilding market " said GTRC President Antony Prince after the signing. "The timing is now ripe to select the best shipyards before the coming rush, to lock in the best prices and delivery schedules for 2012/13 and be ready to take advantage of an anticipated jump in charter rates." Unlike other ship sizes the handysize bulk carrier sector offers the best opportunity among all bulk carrier sizes due to advanced age profile of the existing fleet, relatively low order book, not so fuel efficient designs and booming economies in the developing world with poor port facilities.

July 27, 2011

Share this post