25 February 2020
Polaris Shipping, the world’s largest VLOC owner, took delivery of a 325K DWT VLOC (Very Large Ore Carrier) "M/V SAO JOY" on February 14th, 2020.
Following the delivery of "M/V SAO INDIGO" in December 2019, "M/V SAO JOY" is the 7 th vessel among the 18 newbuilds which were ordered to Hyundai Heavy Industries in 2018 to serve 25-year long term contract concluded with the company’s main customer VALE.
All of the newly-built VLOCs are known as "Economic and Eco-Friendly" ships since they are compliant with IMO’s 2020 regulation through fitting scrubber to control SOx emission and designed to use LNG as a fuel whenever the customer requests.
Since 2016, Polaris Shipping has taken the initiative to replace the old vessels with the state-of-art newbuilds in light of expansion of its fleet and focus on business operation. Through the fleet renewal project in the pipeline, the company aims to secure its competitiveness in the global shipping industry based on its stability and growth.
The 8th newbuid "M/V SAO KAREN" will be taken over in April this year and remaining 10 ships will be fully delivered by 2022.
The 325K dwt, VLOC "M/V SAO JOY". Image by Polaris Shipping.
Polaris Shipping press release