Finnish dry bulk shipping company ESL Shipping has assigned the building of its energy efficient liquefied natural gas (LNG)-fuelled bulk carriers to China's Jinling Shipyard, operated by Sinotrans & CSC Shipbuilding Industry Corporation.

The company said that the agreement reached between the parties "ensures timely delivery and highest quality of the vessels and has no effect on the contract price."

The two new, ice-class 1A ships will be the first LNG-fuelled large bulk carriers in the world, according to ESL Shipping. CO2 emissions per ton of cargo transported will be reduced by more than 50% in comparison to present vessels. The new 25,600dwt ships are expected to start operating in the Baltic Sea during first half of 2018.

"Together with Jinling Shipyard we shall make shipping more sustainable and environmentally aware than ever before," said Mikki Koskinen, Managing Director of ESL Shipping.

The total value of the investment is approximately EUR60m, ESL Shipping earlier said. The ships, announced in November 2015, will be designed by Finnish designer Deltamarin and will feature B.Delta26LNG design, equipped with both dual-fuel main and auxiliary machinery.