Lomar completes decade-long $1-billion fleet renewal program

Libra Group’s shipping subsidiary, Lomar, has recently completed its $1-billion newbuilding investment program of 43 containerships and bulk carriers. The delivery this summer of the Bremen Trader, a 1,774 TEU container vessel from the COSCO Guangdong Shipyard in China marks a decade of commitment to bringing newly-built into the Lomar fleet. It is almost 10 years since a first Letter of Intent was signed for a series of eight SDARI designed 64,000 dwt ‘Ultramax’ bulk carriers. This was followed by a fleet of 35 container vessels ranging from 1,100 to 2,700 TEU capacity. The vessels were all built at major Chinese shipyards and delivered between 2014 and 2021.

The major commitment to newbuilding vessels represents Lomar’s strategic renewal and modernization of its fleet. All of the new ships are well-suited to current and anticipated customer requirements and designed and meet the highest standards for fuel efficiency and environmental compliance.

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