Concordia Damen Bags JP Morgan’s Dual Fuel Barges Order

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  • Concordia Damen signs a contract for 40 eco-friendly dual fuel barges.
  • The 110 x 11.5 metres vessels will have LNG propulsion extreme shallow draught capabilities.
  • The delivery of the first vessel will be in November 2021.

Concordia Damen signed a contract for 40 eco-friendly dual fuel barges with institutional investors advised by J.P. Morgan Asset Management, says a news published on their website.

Contract partner companies 

These 40 barges will be chartered by Shell and operated by the VT Group/Marlow. The broker of the lease was reported to be Frachtcontor Capital Partners.

The VT Group specializes in inland shipping, transporting minerals, chemical products, bio fuels and lubricants. The Parsifal tankers will transport mineral oils between Antwerp, Amsterdam, Rotterdam and the Rhine network.

The capacity of the cargo ships

The 110 x 11.5 metres vessels will have LNG propulsion and extreme shallow draught capabilities – 2800 ton on 3.25 metre draught – in order to maximize cargo carrying capacity on Dutch, Belgian and German canal and river networks.

The reliability of Concordia Damen

Martin van Veen, freight trading manager, of Shell explained the choice of Concordia Damen, saying, “Concordia Damen has a proven track record in the delivery of products that are highly efficient and sustainable.”

Additionally, they have demonstrated their capabilities in the delivery of shallow draught vessels, which was crucial for this project. 

Chris Kornet CEO Concordia Damen said they were grateful to have received the order. “This is yet again a validation of our efforts towards greater levels of sustainability in the inland shipping sector.”

Andy Dacy, Global Head of Transportation at J.P. Morgan Asset Management, said: “We are excited and honored to partner with Shell and Concordia Damen on this innovative and sustainable inland waterway project.”

About the project

Concordia Damen will begin construction of the tankers in December this year. The delivery of the first vessel will be in November 2021.

After that, the yard will deliver another vessel each month, completing the order by December 2024.

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Source: Damen

 

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