Dry bulk shipping firm Pacific Basin Shipping has ordered four vessels from Jiangmen Nanyang Ship Engineering featuring fuel-efficient technology.

The 40,000 dwt vessels were ordered at a total value of about $119.2 million, Pacific Basin said in a press release last week.

The vessels will feature a modern, fuel-efficient open-hatch design. They will be fitted to carry log cargoes, offering lower bunker fuel consumption and greater cargo-carrying flexibility than earlier standard handysize designs.

The order doubles Pacific Basin’s current newbuilding programme, which also includes four dual-fuel ultramax vessels announced in November 2024.

However, the company opted for conventionally powered vessels, citing the lack of proven dual-fuel designs in this segment and uncertainty following the postponement of the IMO‘s planned Net Zero Framework.