G2 Ocean fleet expands with up to four additional dual-fuel vessels

April 10, 2024

In 2027, these 82,300 deadweight ton ammonia/methanol-ready vessels will further enhance G2 Ocean’s capacity to serve customers more efficiently, effectively, and sustainably.

G2 Ocean, the world’s largest shipping operator in the Open Hatch segment, is delighted to announce the further expansion of its fleet with up to four 82,300 deadweight ton (dwt) ammonia/methanol-ready Open Hatch vessels.

The new vessels, provided by Gearbulk, one of G2 Ocean’s valued shareholders and pool partners, will not only improve G2 Ocean’s carrying capacity but also contribute to its commitment to becoming a net-zero emissions company by 2050.

“We are excited to further strengthen our fleet with these next-generation vessels,” says Arthur English, Chief Executive Officer at G2 Ocean.

“This expansion increases our carrying capacity and demonstrates our dedication to further grow our company while providing best-in-class services to our worldwide customers.”

Significant milestone

The contract signed by Gearbulk with the shipyard CSSC Huangpu Wenchong Longxue is firm for two vessels, with an option to purchase two more. The first two vessels will be delivered to the G2 Ocean pool in the first half of 2027.

“This contract for four newbuildings marks a significant milestone for Gearbulk as these vessels are set to be the largest and most efficient in the company’s history,” says Kristian Jebsen, CEO, Gearbulk Holding AG.

“With this investment, we are not only enhancing our operational efficiency but also reaffirming our dedication to meeting the evolving needs of global trade. It’s a proud moment for Gearbulk, and we look forward to the positive impact these vessels will bring to our customers.”

Eight dual-fuel vessels

In addition to these new vessels, G2 Ocean previously announced that Grieg Maritime Group, shareholder and pool partner, will be providing four ammonia-ready vessels to its fleet in 2026. This will bring the total number of dual-fuel 82,300 dwt Open Hatch vessels to eight.

With a carrying capacity of 82,300 dwt, dual-fuel engines, 120 metric tonnes crane capacity, and tween decks, these vessels will be the largest, most environmentally friendly, and technologically advanced carriers in the G2 Ocean fleet, and be well suited to the company’s long-haul pulp trades.

“Collaboration with our shareholders, Gearbulk and Grieg Maritime Group, on design alignment, reflects our shared commitment to growth as well as meeting the requirements of our customers,” English explains.

G2 Ocean currently operates approximately 120 vessels. The company is dedicated to continuing to expand its fleet to support its global trade network.

“As we continue to work on newbuilding projects, we remain steadfast in our commitment to providing customers worldwide with safe, reliable, flexible, and sustainable shipping solutions tailored to their needs,” English concludes.

About the ammonia/methanol-ready vessels

The vessels will have eight cargo and a capacity of 82,300 deadweight ton. With an overall length of 225 meters and a beam of 36 meters, the vessel design has been designated as ‘Pulpmax’.
The vessels will have 4 electro-hydraulic jib cranes with safe working load (SWL) lifting capacity of 2 x 75 metric tonnes and 2 x 120 metric tonnes.
The vessels will be equipped with dual-fuel engines allowing them to operate both on fuel oil and ammonia/methanol. Dedicated deck space on either side of the accommodation has been incorporated into the vessel design for the future installation of fuel tanks for alternative fuels.
The vessels will be built by CSSC Huangpu Wenchong Longxue in China. The first two vessels will be delivered to the G2 Ocean pool in the first half of 2027.