According to shipping industry media, on August 4, Beihai Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC), together with CSSC Shipping, officially signed a construction contract with South Korea’s Polaris Shipping in Qingdao for four 210,000 dwt tri-fuel ore carriers.

The newly contracted 210,000-tonne tri-fuel ore carriers represent Beihai Shipbuilding’s latest generation of its independently developed "Sirius" series flagship vessels, which set a benchmark in green, intelligent, and efficient design among global ore carriers. The vessel adopts a Newcastlemax-type scale design and is equipped with an ethanol/methanol/fuel oil tri-fuel power system, with ethanol serving as the primary fuel. Compared to traditional heavy fuel oil, this configuration can reduce greenhouse gas emissions by approximately 90%. The design also reserves the option for future conversion to ammonia or LNG fuel, offering the shipowner a flexible low-carbon transition pathway.

In terms of energy-saving technologies, the vessel is fitted with a wind-assisted propulsion system—rotor sails, variable frequency drives, high-voltage shore power, shaft generators, and other advanced energy-saving devices to comprehensively reduce operational carbon emissions. The cargo hold structure has been specially designed to carry Class A cargoes under the IMSBC Code that are liable to liquefaction, and is equipped with a comprehensive structural stress monitoring system to ensure hull structural safety throughout the voyage.

This project marks another major breakthrough for Beihai Shipbuilding in Vale’s green-fuel vessel programme, following the previous order for 325,000 dwt ethanol/methanol tri-fuel ore carriers for Vale.

It is understood that Vale has previously initiated a tender for approximately 20 high-specification 210,000 dwt tri-fuel Newcastlemax-type ore carriers, planning to operate the fleet through long-term time charters of over 25 years or long-term contracts of affreightment (COA). Shandong Shipping, South Korea’s HMM, and Polaris Shipping were selected as the cooperating shipowners for this project. Among them, HMM disclosed an order for eight Newcastlemax vessels earlier last month, with a total value of USD 843 million; Shandong Shipping plans to order six units; and Polaris Shipping’s four-vessel order now signed represents an integral part of this programme. These vessels will become the world’s first tri-fuel Newcastlemax-type ore carriers, forming a core component of Vale’s green shipping strategy.

Notably, Polaris Shipping has recently also signed a construction contract with Hengli Heavy Industry for 2+2 units of 210,000 dwt conventional-fuel Newcastlemax-type bulk carriers, also for Vale’s long-term charter programme.

Founded in 2004, Polaris Shipping is one of South Korea’s leading large dry bulk shipping companies. It currently operates a fleet of more than 40 vessels, including 27 owned vessels, primarily very large ore carriers (VLOCs) of 300,000 dwt and above, as well as two LR2 product tankers and two feeder container vessels. This contract represents the first cooperation between Polaris Shipping and Beihai Shipbuilding, marking the establishment of strategic mutual trust between the two parties in the green vessel segment.

Beihai Shipbuilding continues to consolidate its global leadership in the large bulk carrier sector. With the addition of these four new orders, some of its delivery slots have now been extended to 2031. To date, Beihai Shipbuilding has achieved full coverage of green-fuel options across its branded vessel types, including ethanol/methanol tri-fuel, LNG dual-fuel, methanol dual-fuel, and ammonia dual-fuel solutions.

It is worth noting that since the beginning of this year, Beihai Shipbuilding has secured a series of major green-vessel orders, reflecting strong market recognition of its technological capabilities and construction standards. On July 16, Beihai Shipbuilding also signed an order with ICBC Financial Leasing and COSCO Shipping Bulk for four 210,000 dwt bulk carriers, featuring methanol- and ammonia-ready designs.

Looking ahead, Beihai Shipbuilding will continue to deepen its efforts in green vessel R&D and intelligent manufacturing, driven by technological innovation to support the low-carbon transformation of the global shipping industry. The company remains committed to providing global customers with more environmentally friendly, efficient, and intelligent vessels, consistently enhancing the "Beihai Manufacturing" brand and steadily advancing toward its goal of becoming a world-renowned shipbuilding enterprise.