Vitol invests in future of LNG bunkering by securing three LNG Bunkering Vessels

Vitol invests in future of LNG bunkering by securing three LNG Bunkering Vessels


Vitol has secured three LNG Bunkering Vessels through its shipping company, Vitol International Shipping Pte Ltd . The vessels were acquired via a seven to ten-year time charter agreement with Avenir LNG Limited and an order for two vessels at the CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China.

LNG offers shipowners a way to reduce their environmental footprint at competitive price levels. When combined with bio-LNG blending, it provides a long-term solution for compliance with increasingly stringent emission regulations.

The time charter agreement with Avenir covers one newbuild 20,000m3 LNGBV. This charter will commence upon delivery from the Chinese shipyard in Q4 2026 and will last seven years, with options to extend up to ten years. Additionally, Vitol has ordered a 12,500m3 LNGBV and another 20,000m3 LNGBV at the CIMC SOE shipyard, set for delivery in Q4 2026 and Q3 2027, respectively.

Mr. Pablo Galante Escobar, head of LNG, EMEA gas & power at Vitol, commented: “Shipowners worldwide are looking to reduce their emissions. We are delighted to strengthen our offering to them by investing in LNG/bioLNG bunkering, thereby increasing their options.”

Vitol, a player in the LNG market for 20 years, traded over 17 million tonnes of LNG globally last year. Through its subsidiary ViGo bioenergy, Vitol has been investing in bio-LNG infrastructure. As one of the leading providers of bunker fuels through its subsidiary Vitol Bunkers, Vitol is uniquely positioned to offer multi-fuel and decarbonisation solutions to its customers worldwide, covering conventional marine fuels, biofuels, LNG & bio-LNG, and methanol.

For more information visit www.mol.co.jp
source: https://tanknewsinternational.com/vitol-invests-in-future-of-lng-bunkering-by-securing-three-lng-bunkering-vessels/

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