G2 Ocean’s fleet is strengthened with up to four ammonia-ready 82,300 dwt Open Hatch vessels, a 55,889 dwt Semi Open vessel, and shareholder options declared on previously leased vessels as part of the company’s fleet strategy.

G2 Ocean fleet strengthened to improve service offerings

As part of G2 Ocean’s sustainable growth strategy, the company is pleased to announce the next step of its fleet expansion programme:

  • In 2026, up to four ammonia-ready 82,300 deadweight tons (dwt) Open Hatch vessels will be delivered to the G2 Ocean pool by its shareholder the Grieg Maritime Group, providing customers with more sustainable transportation options.
  • Further, the m/v Cove Pearl, a 55,889 dwt Semi Open vessel built at Oshima Shipbuilding in 2014 is purchased by G2 Ocean’s shareholder Gearbulk and will enter the G2 Ocean pool on 1 June 2023 under the name Maple Arrow.
  • These deliveries mark the next step of G2 Ocean’s fleet development programme which will enable the company to continue to grow the business while reducing its greenhouse gas emissions.
  • Additionally, Gearbulk declares a purchase option on 9 previously leased vessels. These vessels will remain in the G2 Ocean pool and be transferred to Gearbulk in-house technical ship management over 2023.

“We look forward to welcoming the vessels to our fleet. They will be a valuable addition to G2 Ocean and will contribute to strengthening our service offerings,” says Arthur English, Chief Executive Officer of G2 Ocean.

“The investment made by Grieg represents a bold step forward in their commitment to G2 Ocean, our customers, and the environment. Thanks to the support of our shareholders the “core” fleet will continue to provide high-quality shipping services to our customers, while also contributing to a more sustainable future,” he adds.

Net zero by 2050

G2 Ocean is committed to reducing its greenhouse gas emissions per transported unit by a minimum of 40% by 2030 compared to 2008 levels and has set the ambition of becoming a net-zero emissions company by 2050.

The vessel deliveries are an important step forward in achieving the company’s goals of reducing its carbon footprint and providing customers with more sustainable shipping solutions.

“At G2 Ocean, we acknowledge, due to the nature of our business, that we have an important role to play in lowering emissions. The new vessels will help us to reduce our environmental impact in the areas in which we operate and is a step in the direction for us to achieve our ultimate emissions goal of net zero,” Arthur says.

G2 Ocean, together with its shareholders, the Grieg Maritime Group and Gearbulk, continues to work on further fleet renewal initiatives to meet future capacity requirements across our trading areas.

About the vessels

The Ammonia-ready Open Hatch vessels

  • The contract between Grieg Maritime Group and CSSC Huangpu Wenchong Longxue involves building two ammonia-ready vessels, with an option for a further two.
  • At 82,300 dwt, the new ships will dwarf the 52,800 dwt L-class, previously the latest and largest vessels in the Grieg fleet.
  • The ships will be ammonia ready with a MAN B&W 5S60ME engine and prepared for tanks holding 3,000 m3 of ammonia on deck.
  • The overall length of the vessels is 225 meters, with a beam of 36 meters and a draft of 13,85.
  • The Marine Design and Research Institute of China (MARIC) has designed the vessel based on specifications and proposals from Grieg Shipbrokers and G2 Ocean.
  • CSSC Huangpu Wenchong Longxue shipyard will deliver the first of the four vessels in the spring of 2026, with the following three throughout the year.
  • The ship is ideally suited for the G2 Ocean long-haul pulp trades with eight holds and four electro-hydraulic jib cranes with an individual capacity of 75 tonnes. When lifting in tandem, the cranes can handle cargo of up to 105 tonnes.
  • All ships will be DNV classed and have the Norwegian NIS flag, with Bergen as the home port.

The Maple Arrow (Formerly named Cove Pearl)

  • 55,889 dwt
  • Built at Oshima Shipbuilding in 2014
  • Overall length: 189.9 m
  • Beam: 32.26 m
  • Draft: 12.568 m
  • Cranes: 30 mt x 4
  • 5 cargo holds