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Vitol Lines Up Three LNG Bunkering Vessels

Maritime Activity Reports, Inc.

July 3, 2024

© alexlmx / Adobe Stock

© alexlmx / Adobe Stock

Commodities trader Vitol has secured three LNG bunkering vessels to support its worldwide operations.

The agreements were made through Vitol’s shipping company, Vitol International Shipping.

The vessels were secured via a seven to ten year time charter agreement with Avenir LNG and an order for two vessels at the CIMC Sinopacific Offshore & Engineering shipyard in Nantong, China.

The time charter agreement with Avenir is for one newbuild 20,000m3 LNGBV, and will commence at delivery from the shipyard in China in fourth quarter of 2026, serving a period of seven years with options to extend up to ten years in total.

Vitol also ordered one 12,500 m3 and one 20,000 m3 LNGBV at the CIMC SOE shipyard in China. The vessels will be delivered in the fourth quarter of 2026 and third quarter 2027 respectively.

 “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,” said Pablo Galante Escobar, head of LNG, EMEA gas & power.

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.