G2 Ocean Strengthens Fleet: 6 Ammonia and Methanol-Ready Vessels Ordered

Open hatch specialist G2 Ocean is expanding and decarbonizing its global fleet by ordering six 65,400 dwt future-fuel-ready newbuilds and retrofitting existing tonnage with advanced AirWing™20 jet sails. Backed by shareholders Gearbulk and Grieg Maritime Group, the new 2029-delivery vessels fill a crucial mid-market capacity gap while complementing an ongoing ten-ship mega-bulk carrier delivery program. This multi-layered investment strategy optimizes operational flexibility for project and forestry cargoes while shielding the company and its customers from tightening international maritime emission regulations.

Bergen | May 26, 2026 – In a major strategic play to reinforce its dominance in the global breakbulk and industrial parcel trades, open hatch specialist G2 Ocean has unveiled a comprehensive, multi-layered fleet expansion and decarbonization strategy.

The joint venture, established in 2017 by Norwegian shipping heavyweights Gearbulk and Grieg Maritime Group, is executing a dual-track program. The operator is securing next-generation, future-fuel-ready newbuild assets while aggressively retrofitting advanced wind-assisted propulsion systems (WAPS) onto its existing core tonnage.

At the center of this latest capital deployment is a firm order for six 65,400 deadweight ton (dwt) open hatch gantry crane (OHGC) vessels from China’s New Dayang Shipbuilding, coupled with a pioneering agreement to install cutting-edge jet sail technology on its existing fleet.

Plugging the Mid-Market Capacity Gap

The addition of the six 65,400 dwt OHGC vessels, scheduled to enter G2 Ocean’s commercial pool starting in 2029, represents a calculated tactical expansion aimed at addressing a clear capacity gap in the breakbulk and project cargo sectors.

Currently, G2 Ocean’s massive fleet of over 120 open hatch and conventional bulk carriers is split between larger 72,000 dwt gantry-equipped vessels and smaller, highly versatile units operating in the 36,000 to 55,000 dwt range.

Fleet Segmentation and the New Tonnage Bridge

• Lower Tier Tonnage: 36,000 to 55,000 dwt vessels (flexible, handysize/handymax class for smaller ports).
• The New Strategic Bridge: 65,400 dwt newbuilds (the “sweet spot” providing optimized capacity without sacrificing port accessibility).
• Upper Tier Tonnage: 72,000 dwt vessels (large-scale gantry crane operations for high-volume corridors).

By introducing a 65,400 dwt deadweight class, the company provides forestry, steel, and project cargo shippers with an optimized mid-market platform that yields excellent economies of scale without restricting access to draft-constrained or infrastructure-limited ports.

“As a global service provider, we believe it is essential to maintain a highly flexible fleet so that we can tailor solutions for our customers’ needs,” says Arthur English, Chief Executive Officer at G2 Ocean. “This investment continues the development of our geared fleet of both jib craned and gantry craned vessels.”

Technical Specifications: The New 65,400 dwt Class

The upcoming vessels are designed specifically for the complex, high-stowage-factor requirements of industrial breakbulk, maximizing internal volume and cargo handling efficiency:

• Deadweight Capacity: 65,400 tonnes
• Volumetric Capacity: Approximately 79,400 m³
• Hold Configuration: Eight box-shaped open hatch cargo holds engineered with completely square profiles and no understow/overhangs, ensuring pristine handling of sensitive forest products.
• Cargo Gear: Two heavy-duty travelling gantry cranes designed for swift, weather-protected loading and discharging cycles.
• Flexibility Features: Integrated tween decks within the cargo holds to allow distinct separation and optimal intake of mixed or multi-tiered parcel cargoes (e.g., combining high-density metals with delicate wood pulp).

Financed via Structured Asset Allocation

Demonstrating the strong backing of its parent organizations and institutional ship finance, the ownership structure of the six-ship newbuilding program splits capital risk across diverse corporate balances:

The choice of New Dayang Shipbuilding Co. in Yangzhou, China, reflects the yard’s established track record in constructing highly specialized, high-spec bulk and multi-purpose designs.

The Broader Tonnage Pipeline: The 82.3k DWT “N-Class”

The 2029-delivery gantry vessels are only one part of G2 Ocean’s broader fleet renewal pipeline. They will sit alongside a parallel, massive newbuilding campaign already underway: the delivery of ten 82,300 dwt “N-Class” open hatch vessels spanning 2026 through 2029.

The vanguard of this ultra-large series, the Star Norge, was officially delivered in January 2026 and has already entered active service, loading its maiden 14,200-tonne pulp cargo in Paranaguá, Brazil, bound for Asian markets. These 225-meter mega-open-hatchers feature crane capacities ranging up to 120 tonnes, targeting long-haul, high-volume commodity corridors where maximizing tons-per-mile is critical to driving down unit emissions and freight costs.

Retrofitting for the Energy Transition: Jet Sails on Star Kirkenes

While newbuilds pave the way for the next decade, G2 Ocean is tackling the immediate carbon footprint of its operational fleet via wind-assisted propulsion systems (WAPS). The company has selected its 49,924 dwt general cargo vessel, Star Kirkenes (built in 2009, 209 meters LOA), to serve as the pioneer testbed for this technology.

Wind Propulsion Trial Overview: Star Kirkenes

Critical Engineering Integration

For open hatch operators, the primary barrier to wind-propulsion retrofits has always been the physical footprint of the sails. Rigid sails or rotor sails typically interfere with the travel paths of heavy gantry cranes or the swing radius of jib cranes, potentially compromising port turnaround times.

G2 Ocean confirms that the AirWing™20 configuration has been engineered to ensure that the jet sails will not compromise crane visibility or hatch cover clearances, preserving 100% of the vessel’s operational flexibility and cubic capacity. If the Star Kirkenes trials deliver the anticipated reductions in fuel oil consumption, G2 Ocean intends to scale the technology rapidly across its remaining 120+ vessel fleet.

Future-Fuel Ready Architecture

From an energy and bunkering perspective, the most critical aspect of the new 65,400 dwt order is its future-fuel-ready propulsion design. The ships will be delivered with structural and technical provisions allowing for retrofits to zero- or near-zero carbon marine fuels, specifically ammonia or methanol, as soon as global supply infrastructure, safety frameworks, and dual-fuel engine availability mature.

This multi-fuel optionality acts as a crucial hedge against regulatory penalties under the EU Emissions Trading System (EU ETS) and impending FuelEU Maritime mandates, protecting the asset values of the fleet through the 2030s and 2040s.

Long-Term Alignment

“This investment demonstrates our continued commitment to renewing our fleet, supporting our customers, and strengthening our operational platform while ensuring that we remain competitive for the long term.” said, Kristian Jebsen, Chairman of Gearbulk and G2 Ocean

“The Open Hatch business is the core of our long-term strategy. We are happy to be able to support G2 Ocean in remaining a high-quality, flexible, and efficient service provider through this investment.” said, Matthew Duke, Chief Executive Officer at Grieg Maritime Group

Market Context

G2 Ocean handles over 3,500 port calls across nearly 70 countries annually, controlling critical supply chains for core industrial commodities like forestry products (pulp and paper account for nearly 47% of its volume), aluminum, steel, and heavy project cargo.

By simultaneously investing in mid-size flexibility, mega-tonnage efficiency, wind retrofits, and future-fuel alternative propulsion designs, the operator is positioning itself to insulate both its balance sheet and its customers’ scope 3 supply chain metrics from the volatility of the ongoing maritime energy transition.

About G2 Ocean

Established in 2017, Bergen, Norway-headquartered G2 Ocean is one of the world’s largest commercial ship operators within the specialized open hatch and breakbulk segments. The company was formed as a joint venture combining the fleets and expertise of two premier global shipping heavyweights: Gearbulk and Grieg Maritime Group.

Key Operational Metrics & Global Footprint

• Fleet Strength: Operates a highly versatile fleet of over 120 open hatch gantry crane, jib crane, and conventional bulk vessels ranging from Handysize to Ultramax tonnage.
• Global Network: Manages a complex network covering 37 distinct trade lanes across six continents, completing over 3,500 port calls in nearly 70 countries annually.
• Corporate Structure: Driven by over 300 maritime professionals across 15 global locations, including primary operational hubs in Bergen (HQ), Singapore, and Atlanta, alongside a dedicated regional office in Dubai.

Core Commodities & Specializations

G2 Ocean operates via a highly flexible asset deployment model, offering a mix of regular liner, semi-liner, and tramp services. The company is a critical supply chain partner for several core industrial sectors, regularly transporting:

• Forest Products: Pulp, paper, and timber (accounting for nearly half of total moving volumes).
• Metals & Minerals: Aluminum, steel, granite, and industrial minerals.
• Project Cargo: Specialized industrial modules, wind energy components (blades and towers), mining machinery, and heavy infrastructure components weighing up to several hundred tonnes.

In alignment with tightening international greenhouse gas regulations, G2 Ocean has committed to an aggressive environmental agenda. The operator is actively targeting a minimum 40% reduction in greenhouse gas emissions per transported unit by 2030 (against a 2008 baseline), with the ultimate corporate objective of achieving net-zero emissions by 2050 through multi-fuel newbuild architecture and wind-assisted fleet retrofits.

Source: G2 Ocean