The new vessel, which was constructed at Yangzhou Guoyu Shipbuilding Co., Ltd, is Pioneer’s first Green Dolphin ecodesign handysize vessel. The ship’s fuel consumption is about 6 tonnes per day lower than the non-eco design vessels. In addition to eco-friendly efficiencies, Pioneer’s Green Dolphin newbuilding series are equipped with features which offer substantial commercial flexibility such as hull strengthened to Ice Class 1C, fully logs fitted, suitable for the carriage of various dangerous cargoes, grab fitted, ABB Octopus system for fuel consumption optimization, mass flow meters on the bunker line and more. The Falcon Bay will commence a 1 year charter on a floating rate based on the Baltic Handy index plus a premium. The charterer may extend the charter for up to one additional year. The delivery of the Falcon Bay expands the Company’s operating fleet to thirteen handysize vessels and one handymax vessel.