Forward Maritime Group Inc. announced a letter of intent (LOI) with Jiangsu Yangzijiang Shipbuilding Group Ltd. for the construction of up to 20 Forward Bulker 84 LNG carriers, putting deliveries between 2020 and 2023.
When delivered, these vessels will be trading under the Forward Ships brand.
Jiangsu Yangzijiang Shipbuilding Group, listed on the Singapore Exchange, is one of the largest private shipbuilding groups in the world. “Project Forward” is a joint development project formed and led by Arista Shipping S.A. in 2013 to reduce global ship emissions by promoting the adoption of liquefied natural gas (LNG) as a marine fuel.
Forward Maritime Group Inc., an Arista Group affiliate, and Yangzijiang Shipbuilding Group have agreed by way of the LOI to bring the design to reality.