Vitol International Shipping Pte Ltd (VIS), the shipping arm of Vitol, has secured three LNG Bunkering Vessels (LNGBVs) through a combination of time charter agreements and new vessel orders.
Securing the Vessels
Vitol obtained the vessels via a seven to ten-year time charter agreement with Avenir LNG Limited and placed an order for two additional vessels at the CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China. This strategic move aims to support shipowners in reducing their environmental footprint through competitive LNG pricing and bio-LNG blending for long-term compliance with stringent emission regulations.
Time Charter Agreement Details
The agreement with Avenir covers one new build 20,000m³ LNGBV, scheduled for delivery in Q4 2026. The charter will last seven years, with options to extend up to ten years. Additionally, Vitol has ordered one 12,500m³ and one 20,000m³ LNGBV from the CIMC SOE shipyard, with deliveries expected in Q4 2026 and Q3 2027, respectively.
Investment in Emission Reduction
Pablo Galante Escobar, head of LNG, EMEA gas & power at Vitol, emphasized the company’s commitment to helping shipowners reduce emissions by investing in LNG and bio-LNG bunkering solutions, thus expanding their options.
Vitol’s Global LNG Presence
With 20 years of experience in LNG trading and over 17 million tonnes traded worldwide last year, Vitol is expanding its global presence. The company is investing in bio-LNG infrastructure through its subsidiary ViGo Bioenergy and is a leading provider of bunker fuels via Vitol Bunkers. This positions Vitol uniquely to offer a comprehensive range of multi-fuel and decarbonization solutions to its global customers, covering conventional marine fuels, biofuels, LNG, bio-LNG, and methanol.
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Source: Vitol
