Borealis and IINO Lines Announce Long-Term Charter of Ice-Class VLGC for Sustainable Transport

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Borealis, a global leader in advanced and sustainable polyolefin solutions and a pioneer in polyolefin recycling in Europe, has partnered with IINO Lines, a leading maritime transportation company based in Japan. Together, they announced the long-term charter of a very large gas carrier (VLGC) scheduled for delivery in the first quarter of 2027.

Unique Ice-Class VLGC for Efficient Operations

The new Ice Class IB vessel, with a cargo tank capacity of 93,000 m³, will transport raw materials to Borealis’ petrochemical plant in Porvoo, Finland. This VLGC is the only ice-strengthened vessel of its kind, capable of navigating light ice conditions with icebreaker support, as per the Finnish-Swedish Ice Class Rules. These regulations ensure safe navigation in the Baltic Sea during winter.

Dual-Fuel Technology and Environmental Benefits

Equipped with a dual-fuel engine, the vessel can operate on liquefied petroleum gas (LPG) and low-sulfur fuels. It features a Shaft Generator Motor (SGM) System for generating electrical power from LPG dual fuel, significantly reducing fuel consumption and emissions of nitrogen oxides (NOx), sulfur oxides (SOx), carbon dioxide (CO2), and particulate matter. Additionally, the onshore power supply system allows the vessel to use shore-side renewable electricity while anchored, minimizing its carbon footprint.

Strategic Benefits and Environmental Commitment

Thomas Van De Velde, Borealis Senior Vice President of Base Chemicals and Energy, highlighted the strategic importance of the charter:

“Maximizing opportunities to enhance our independence and flexibility in transporting cost-competitive light feedstock from overseas to our European base chemicals operations is paramount for our competitiveness. The newly signed charter provides us with competitive flexibility and helps reduce the environmental footprint of our transportation operations. This aligns with our strategic Energy & Climate ambitions and demonstrates our commitment to reinventing essentials for sustainable living.”

Long-Term Partnership and Future Prospects

Ryuichi Osonoe, Senior Managing Executive Officer at IINO Lines, expressed pride in this second long-term charter with Borealis:

“We at IINO Lines are profoundly proud of this second long-term charter to provide safe and flexible transportation in response to Borealis’ new raw material procurement strategy. Our extensive experience and know-how in operating LPG Carriers since 1960 will enable more effective and environmentally sustainable transportation, ensuring stable plant operations year-round. We look forward to seeing our vessel safely deliver LPG to Porvoo, even through icy seas.”

Conclusion

This partnership between Borealis and IINO Lines marks a significant step towards more sustainable and efficient maritime transportation, aligning with global environmental goals and enhancing operational stability in challenging conditions.

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Source: Borealis

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