Lomar Committed to Its Large-Scale Fleet Expansion

Lomar has continued its large-scale fleet expansion with the addition of six container ships to its fleet, the declaration of options on its newbuilding orders as well as the placement of new orders for bulk carriers from the COSCO shipyard in China. These latest developments take the company’s fleet to over 60 including purchase options.

The Boston Trader and the New York Trader are 2004 built 1,100 TEU container ships acquired from a German K.G. Additionally Lomar has added four Singaporean built 1078 TEU container ships to its fleet – the Pac Antilia, Pac Aires, Pac Aquarius and Pac Aquila.

Meanwhile, Lomar has declared options on another five newbuildings and announced two new orders, all from Chinese shipyards. Two of the options are for 1,100 TEU container ships from the Yangzijiang shipyard. They are designed by leading Chinese design institute SDARI (Shanghai Merchant Ship Design and Research Institute) and ships have much improved fuel consumption and the ability to carry up to 220 reefer containers. This leaves Lomar with two options still available from the shipyard. Lomar has also declared another purchase option within its order for 2190 TEU container ships from China’s Guangzhou Wenchong Shipyard bringing the total firm orders to four. This vessel is due for delivery in 2016 and the company retains two more purchase options for sister vessels from this shipyard. Finally, Lomar has significantly increased its commitment to ‘Ultramax’ bulk carriers from the COSCO Group in China by making firm two of the options that it held as well as announcing that it holds two new options to purchase. This means that Lomar now holds eight firm COSCO orders plus two remaining options.

The first of Lomar’s ‘Ultramax’ bulk carriers from COSCO will be delivered in January 2014. The ‘Dolphin’ 64,000 dwt vessels are SDARI designed and meet the highest standards for fuel efficiency and environmental compliance, including the latest IACS Common Structural Rules (CSR).

Achim Boehme, CEO of Lomar stated: “We are delighted to be adding to our container fleet while further asserting our commitment to the newbuilding sector with ships that are modern, efficient and well-suited to the demand profile that we see emerging in the bulker and container sectors.”

Lomar is the shipping subsidiary of the Libra Group, a diversified international business group. The company has a mixed fleet of vessels including bulk carriers, container ships, LPG and chemical tankers as well as offshore vessels.

Lomar, January 22, 2014

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