Finnish fuel supply and distribution company NEOT has extended its charter contracts for six vessels owned by the shipping company Terntank. These extended agreements cover six vessels operating from NEOT/St1’s terminal in Gothenburg. The announcement also includes introducing the new wind-assisted methanol-ready vessel series, Hybrid Solution Plus. The initial contract for the new 15,000 dwt Hybrid Solution Plus vessel was signed in March 2023. NEOT’s partnership with Terntank aims to minimize emissions from the maritime transportation value chain and help Terntank achieve its sustainability target of net zero by 2040.
A Decade of Partnership and Innovation
The long-term collaboration between NEOT, Terntank, and WEGA began in 2013, leading to the development of the first liquefied biogas (LBG) powered tankers. In 2018, NEOT became the first Finnish company to use LBG in shipping, marking a significant milestone in sustainable maritime practices.
Commitment to Sustainable Shipping
Marc Scheller, Director of Shipping and Operations at NEOT, expressed satisfaction with the continued partnership, stating, “We are pleased to continue our cooperation with Terntank and extend all our time charter contracts. Terntank is vital to our logistics, enabling us to deliver products efficiently and sustainably. We look forward to working closely with Terntank and the crew onboard the new vessel arriving next year.”
The owners of Terntank, Tryggve Moller, Rigmor Moller, Annika Kristensson, and John Sten, emphasized the strength of their partnership with NEOT, saying, “Terntank and NEOT have enjoyed a strong partnership since 2013, and with this renewal, we are deepening our collaboration. We are incredibly proud and pleased to continue this journey, building on our shared commitment to innovation and sustainability in maritime transport.”
Future Developments
The first ship in Terntank’s Hybrid Solution Plus series is currently under construction and is scheduled for delivery in March 2025. This new series represents a significant step forward in reducing emissions and enhancing sustainability in maritime transportation.
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Source: Offshore Energy
