Rio Tinto Charters Two Methanol-Capable Newcastlemax Bulk Carriers

Rio Tinto has signed a contract with NS United Kaiun Kaisha (NSU) to charter two methanol-capable dual-fuel Newcastlemax bulk carriers for delivery from 2028 onwards.

The agreement reflects Rio Tinto’s long-term approach to shaping its freight portfolio by future-proofing the fleet today while industry regulations on decarbonization continue to evolve.

Rio Tinto Head of Commercial Operations, Laure Baratgin, said: “Shipping is entering a period of significant transition, but the pace, direction and economics of alternative fuels remain uncertain. Our focus is on building flexibility into our portfolio so we are prepared for how the industry may evolve, while continuing to operate safely and competitively.

“Our role as a charterer is to work with owners who are willing to taking a long-term view. Futureproofing the fleet takes a shared commercial effort across the value chain, and we are glad to enable this.”

NSU President, Kazuma Yamanaka, said: “From an owner’s perspective, long term operability and safety come first. Methanol capability is one of several features that provides flexibility as regulatory and market requirements continue to evolve.”

Rio Tinto’s fleet strategy recognizes the potential for a multifuel future. The company also continues to explore a range of lower carbon fuel options like ammonia as possible mid-to-longer term solutions while technology, infrastructure and safety frameworks mature.