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Published by Jessica Casey,
Editor
LNG Industry,
Vitol has secured three LNG bunkering vessels (LBV) through its shipping company, Vitol International Shipping Pte Ltd (VIS).
The vessels were secured via a 7 – 10 year time charter agreement with Avenir LNG Ltd and an order for two vessels at the CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China.
LNG enables shipowners to reduce their environmental footprint at competitive price levels. When combined with bio-LNG blending, it also offers shipowners a long-term solution for compliance with increasingly stringent emission regulations.
The time charter agreement with Avenir is for one newbuild 20 000 m3 LBV. The time charter will commence at delivery from the shipyard in China in 4Q26 and will serve a period of seven years with options to extend up to 10 years in total. Vitol also ordered one 12 500 m3 and one 20 000 m3 LBV at the CIMC SOE shipyard in China. The vessels will be delivered in 4Q26 and 3Q27 respectively.
Pablo Galante Escobar, head of LNG, EMEA gas & power, Vitol, said: “Shipowners worldwide are looking to reduce their emissions. We are delighted to strengthen our offering to them by investing in LNG/bio-LNG bunkering, thereby increasing their options.”
Read the article online at: https://www.lngindustry.com/small-scale-lng/04072024/vitol-secures-three-lng-bunkering-vessels/
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