Fednav signs agreement for ten newbuildings

New Ocean-going Lakers represent the most efficient vessels to date for Fednav

Fednav Limited, Canada's largest dry bulk shipping group, has signed an agreement with Sumisho Marine Co., Ltd. (Sumitomo Corporation Group) and Oshima Shipbuilding to build ten new Ocean-going Lakers. The ships will be built at Oshima shipyard in Japan, with the first vessel expected to be delivered in mid-2023.

The new Fednav-Oshima designed super-eco Lakers represent the most efficient vessels to date for Fednav. Their carbon emissions will be 33% less than the vessels they will replace, including a Nitrogen Oxides (NOx) footprint at least 87% smaller. They will be delivered equipped with the latest technology, including Tier III engines and the capability of burning biofuels.

The new Lakers will support Fednav's sustainability goals, making them an essential asset for the future. "We are delighted to include these new vessels to our fleet to support the shipping industry and reinforce our commitment to the Great Lakes St. Lawrence Seaway," said Paul Pathy, President and CEO of Fednav. "These new vessels are aligned with our long-term strategy to invest in our future and support our transition toward more sustainable shipping”.

Fednav is a privately owned shipping company and is the largest international dry-bulk shipping group in Canada. It operates a most modern fleet of about 120 bulk carriers trading worldwide, of which 60 are owned. The company employs 300 office staff worldwide -195 in its Montreal headquarters - and maintains commercial offices in Antwerp, Charlotte, Hamburg, Rio de Janeiro, Singapore and Tokyo.