Lomar Eyes More Container Vessels at Chinese Yards

Lomar, the shipping subsidiary of the Libra Group, has declared further three options to build new container vessels at Chinese shipyards. The company now has over 20 firm newbuilding orders for container ships and bulk carriers within its fleet of over 60 vessels.

The company has declared its final two options in a total order for six 1,100 TEU container vessels from the Yangzijiang shipyard. They are designed by leading Chinese design institute SDARI (Shanghai Merchant Ship Design and Research Institute) and have much improved fuel consumption and the ability to carry up to 220 reefer containers. The vessels will be named Toronto Trader, to be delivered in late 2015 and Tampa Trader, to be delivered in early 2016.

Lomar has also declared a further purchase option within its order for 2190 TEU container ships from China’s Guangzhou Wenchong Shipyard, bringing its total firm orders to five. This vessel is due for delivery in 2015 and is similarly a modern, fuel-efficient design from SDARI.

This further commitment to newbuilding container vessels is part of the strategic refreshment and renewal of Lomar’s fleet. The company states that this process will ensure that its vessels are well-suited to current and anticipated customer requirements.

Other newbuildings within the Lomar fleet include eight firm orders and two purchase options for 64,000 dwt ‘Ultramax’ bulk carriers from the COSCO Group in China.

Lomar has a mixed fleet of vessels including containers, bulkers, chemical tankers and LPG as well as offshore vessels. Libra’s other transportation interests include its aviation leasing subsidiary, LCI, which is also involved in the offshore sector and has a recently placed order for a fleet of new generation helicopters from AgustaWestland and Airbus valued at close to $1 billion.

Press Release, March 7, 2014

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Posted on March 7, 2014

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