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ORIX places first order for eco bulk carriers

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Dry Bulk,

ORIX Corporation has announced that it has placed an order for two TESS66 AEROLINE bulk carriers, a new model developed by TSUNEISHI SHIPBUILDING Co., Ltd. This is the first order of the new model as a shipowner. The two vessels will be built by TSUNEISHI GROUP (ZHOUSHAN) SHIPBUILDING, Inc. and are expected to be delivered in 2023.

Currently, based on the Energy Efficiency Design Index (EEDI), an environmental regulation from the International Maritime Organization (IMO) regarding the reduction of CO2 emissions, new bulk carriers are required to comply with EEDI Phase 2 which mandates a CO2 reduction of 20% from the standard value. The vessels being ordered this time satisfied in advance with EEDI Phase 3 (30% reduction from the standard value) which will be applied to new vessels starting from 2025. They can be expected to have lower environmental impact and better fuel efficiency compared to existing vessels.

ORIX began a second-hand ship leasing business in Japan in the latter half of the 1960s and has been carrying out ship finance on an international scale since the first half of the 1970s. For a period extending over nearly 50 years, ORIX has been acquiring shipping-related expertise ranging from ship finance and investment (owning and operations), sales and purchases, broking, including through the establishment in 1977 of Perseus Shipping Co., Ltd (now ORIX Maritime Corporation), a company which operates vessels. Currently, ORIX owns 25 vessels, mainly bulk carriers, and provides them to first-class companies such as grain trading houses and power companies worldwide.

ORIX will continue to use the experience and expertise it has cultivated to actively engage in reducing environmental impact while contributing to the realisation of a sustainable society through corporate activities.

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