Canadian bulk carrier operator Fednav has signed a shipbuilding contract with Japan’s Sumisho Marine and Oshima Shipbuilding for ten lake-fitted bulkers, with the first vessel expected to deliver in mid-2023. No price has been revealed.

The lakers will be delivered with Tier III engines and the capability of burning biofuels. Fednav said the newbuilds will be its most efficient vessels to date, reducing carbon emissions by 33% compared to the vessels they will replace.

“These new vessels are aligned with our long-term strategy to invest in our future and support our transition toward more sustainable shipping,” said Paul Pathy, president and CEO of Fednav.

The Montreal-headquartered company operates a fleet of around 120 bulk carriers, of which 60 are owned.