New ships are the latest in an eco-friendly fleet that embraces technological advancements and exceeds required Environmental Standards
New York, NY – April 8, 2024 — U.S.-based shipping company Foremost Group (“Foremost”) took delivery of two new Capesize bulk carriers at Imari shipyard in Saga prefecture, owned by Namura Shipbuilding Co., Ltd, Japan.
Each ship is approximately 181,500 metric tons deadweight carrying freight comprised of major dry bulk commodities such as iron ore and bauxite. NYK is the charterer and has contracted these ships for a long-term Charter. . The Charterer determines the type of cargoes carried and the ports called.
The ships are among the first delivered to comply with the International Maritime Organization (IMO) Energy Efficiency Design Index (EEDI) phase 3 requirements, making them among the most eco-friendly ships on water in the world. The ships also have among the most favorable ratings from IMO’s operational energy efficiency measure, the Carbon Intensity Index (CII). Special design features include hull optimization, a MAN B&W electronically controlled engine, propeller optimization, rudder fin and rudder bulb, upgraded energy-saving paint, and flow-straightening fins, among others. The vessels are upgraded to be able to run on biofuels continuously, which can further reduce CO2 emissions. These two new capesize vessels join the rest of the company’s fleet that is the vanguard of eco-friendly ships that emphasize environmental protection.
NYK is one of the largest and most reputable shipping companies in the world. Foremost has a number of ships chartered to NYK. These two ships, especially their modifications for continuous biofuel consumption, contribute to NYK’s ESG strategies. This is a reflection of Foremost Group & NYK’s commitment to protecting the environment and leaving a future legacy for the industry.
Mr. Hiroaki Nishiyama, Managing Executive Officer, Chief Executive of Dry Bulk Division, said, “We are extremely honored to have developed a firm partnership with a distinguished global company like Foremost Group. We have had long standing relationship for many years and our relationship expanded furthermore with these two newbuilding vessels. NYK has set a goal to cut GHG emissions 45% by 2030. In order to achieve the goal, those two cutting edge vessels with the latest environmentally friendly technologies will play a very important role in our fleet. We are confident that this contract with Foremost Group will give us great strength in the future direction and development of NYK’s Dry Bulk business.”
Mr. Kensuke Namura, President of Namura Shipbuilding, said: “We are delighted and proud to announce the successful completion and delivery of the two vessels, marking a memorable milestone as first newbuilding project with the Foremost Group. We are confident that the vessels will contribute to further development of Foremost Group as well as the vessels’ charterer, NYK. We remain committed to further cultivating the relationship we have built with the Foremost Group.”
Dr. James Chao, Founder and Chairman of Foremost Group, said: “Foremost has a long history of building ships in Japan and being responsible stewards of the environment. We are pleased to have this strong relationship with Namura Shipbuilding, a company with a stellar reputation. We also take pride in our decades-long relationship with the charterers, NYK. At Foremost, we believe in building long term mutually beneficial relationships. And, we always believe that we are performing a valuable service for the world – to facilitate the movement of cargoes to fuel economic growth worldwide and improve the standard of living around the world. Our mission statement of honor, integrity and performance guides us in everything we do every day. These two ships, especially their modifications for continuous biofuel consumption, contribute to NYK’s ESG strategies. This partnership reflects our mutual cooperation, our value alignment and commitment to the environment and future generations.”
Foremost Group is an American shipping company, founded 60 years ago by founder and Chair, Dr. James S. C. Chao. It has a fleet with an average fleet age of less than 5 years old. It charters its ships to world-class charterers to aid in their bulk commodities movements. The Charterers determine the routing of the ships.