Australia’s Fortescue Metals Group (FMG) has joined the list of miners opting for LNG-fuelled bulkers to ship iron ore to China or Japan.
The world’s fourth-largest mining company is making a significant shipping strategy shift by putting out a tender to charter up to 10 dual-fuel, 209,000-dwt bulker newbuildings that may cost $700m to build.
According to shipping industry sources, FMG is seeking to charter five newcastlemaxes that will be able to run on LNG and conventional fuel.
