Polaris Shipping delivers its 3rd newly-built 325,000DWT VLOC

20 February 2019

Polaris Shipping has delivered one 325K DWT, VLOC (Very Large Ore Carrier) ‘MV. SAO FABIAN’ today.

The company has distinguished itself as a global shipping company by locking in the long-term contracts up to 25 years for 18 VLOCs with VALE in 2017, followed by successful ship financing through ‘Newbuilding Support Program’ in which state-run financial institution participated in 2018.

‘MV. SAO FABIAN’ is the 3rd vessel among the 18 newbuild series ordered to Hyundai Heavy Industries and she will be deployed to service long-term contracts with VALE upon delivery.

The 3 received newbuilds including ‘MV. SAO FABIAN’ and 15 vessels awaiting for the delivery are eco-friendly and high efficient : they are ‘LNG ready’ which is designed to be prepared for using LNG as a fuel and have installed scrubber in order to reduce the Sulphur oxide emission.

These qualities will enable the fleets to comply with IMO 2020 Global Sulphur regulation which will enter into force in 2020.

“We will do our best effort to solidify our soundness as a global VLOC carrier as we are prepared for our second take-off through securing long-term contracts supported by the relationship of trust with our charterers and rejuvenating our VLOCs with state-of-art vessels” said the company official.

The 4th newbuilding ‘MV. SAO GRACE’ is expected to be delivered on April 2019.

The 325K dwt, VLOC "MV. SAO FABIAN".   Image by Polaris Shipping.

The 325K dwt, VLOC "MV. SAO FABIAN".   Image by Polaris Shipping.

Polaris Shipping press release