Terntank Orders 2 More LNG Fueled Tankers

By Joseph R. Fonseca
Sunday, June 22, 2014
Chartering Dept of Terntank

Terntank proclaims its options on two sister ships to the two LNG powered product tankers ordered in the autumn of 2013. The oil company NEOT also confirmed that they are taking in two of these on time charter.

Terntank Rederi AS now has four LNG powered 15,000 dwt product tankers on order at the Chinese shipyard Avic Dingheng Shipbuilding Co., Ltd. The ships will be delivered at three-month intervals so that the first one will be delivered in the spring of 2016 and the fourth in the beginning of 2017.
 
Terntank elected to declare its two options because there is considered to be a demand for energy efficient and environmentally adapted tanker tonnage.

Environmental advantages

By using LNG as fuel it is possible to achieve significant environmental advantages in comparison with low-sulphur marine gas oil, which many shipping companies will be switching to when the more stringent sulphur regulations come into force in 2015. LNG reduces emissions of SOx by 90 per cent, NOx emissions by almost 80 per cent, and particulate matter by over 90 per cent. The newly built ships will also emit 35 to 40 per cent lower volumes of CO2 than a conventional tanker today, reports Terntank.

The ships will be fitted a low-speed main engine from Wärtsilä with dual fuel and low-pressure technology. The new engine complies with the emission requirements for IMO Tier III without other exhaust emission systems for NOx during the use of LNG. Bunkering will take place ship-to-ship with bunker ships.

 Cooperation

Two of the new ships will be long-term chartered by NEOT, North European Oil Trade Oy, in Finland. NEOT, which is jointly owned by the cooperative union SOK and the oil company St1 Nordic Oy, currently have three of Terntank’s ships in service: Ternvik, Ternhav and Ternholm. They will continue in service until the new ships have been delivered. The energy consulting company Wega Advisors Oy in Finland has negotiated the agreement between Terntank and NEOT.

“We think Terntank is a high quality company who will be the first ship owner who has the innovative LNG technology in use and they are a local company who knows our trading area very well including ice navigation. We believe LNG technology will help us to ensure continuous operations in the Baltic Sea region by meeting the Sulphur Emission Control Area (SECA) requirements that will become binding from the 1st January 2015. Cooperation with Terntank is also a natural continuation for the cooperation we already have with them including the three time chartered vessel at the moment,” says Satu Mattila, Chartering Manager at NEOT.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

GE Gas Turbines for Japan's New Warship

GE's Marine Solutions announced it will provide IHI, Tokyo, Japan, with two LM2500 aeroderivative marine gas turbines for the Japan Maritime Self Defense Force's (JMSDF) new 8,

WSS Offers ‘One Stop Shop’ Approach to Bunkering

Ship operators who rely on a myriad of companies for their global bunkering needs are wasting time, money and energy, with no guarantee of standardized quality of products and services,

BAE Systems Bags USN Award for Submarine Propulsors

BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The

Tanker Trends

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

A Look Back At The Tanker Market

The fall in the oil price after the summer of 2014, coupled with the decision by OPEC to keep oil production at elevated levels has combined to support an improved tanker market,

TEKEVER Develops Vessel Tracking for Small UAS

TEKEVER will present at Xponential/AUVSI its new vessel detection capabilities for its UAS product lines. Available for TEKEVER’s AR3 and AR4 product lines, the

Energy

Wind-powered Oil Recovery Project Green-lighted

The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that  wind-powered

Keppel Acquires LeTourneau

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International

TOTE LNG Bunker Barge : Crew Training Program

GTT subsidiaries, GTT North America, Inc. and GTT Training Ltd, announce the award of the first contract of its kind for the development and implementation of a

LNG

India Seeks Stake in Iran LNG Terminal

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation,

MOL's LNG Carrier KUMUL Delivered

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced the delivery of the LNG carrier KUMUL at Hudong-Zhonghua Shipbuilding (Group) Co.

China Equipments to Yamal LNG

The first shipment of a ‘core kit’ for Russia’s Yamal LNG project has set sail for northern Russia from the Chinese port of Qingdao.   China's first batch of

Marine Materials

PPG Unveils Subsea Coating System

The PPG protective and marine coatings business is introducing and highlight the new PHENGUARD Subsea coating system.   The new product combination of PHENGUARD

Lerwick Harbor sees Seasonal Boost

The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

News

Wind-powered Oil Recovery Project Green-lighted

The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that  wind-powered

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

US Coast Guard to Unveil Historic Lifeboat

A ceremony unveiling a historic lifeboat as a new static display in Chatham, Mass. is scheduled for 11 a.m. Friday at U.S. Coast Guard Station Chatham.   The

Marine Equipment

Crane Upgrade for Jack-up Vessel Sea Installer

Major modification work will bring A2SEA-owned vessel into line with growing demands of offshore wind industry   Damen Shiprepair Amsterdam (DSAm), part of Damen Shiprepair & Conversion,

Port of London Bridge Simulator Upgraded

The Port of London Authority (PLA) has invested £250,000 to upgrade its ship’s bridge simulator, adding a full tug bridge simulator in a move that is set to enable

Barge Master Wins Innovation Award at OTC

The Barge Master T40 motion compensated knuckle boom crane has been recognized for technological innovation, winning the Spotlight on New Technology Small Business

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1271 sec (8 req/sec)