Contracts and TendersEuropeLNG as Fuel

V.Group to manage LNG-powered VLCC trio

By LNG Prime Staff
V.Group to manage LNG-powered VLCC trio
DSME held a keel-laying ceremony for the first out of three LNG-powered ships in May 2022 (Image: International Seaways)

UK-based ship management firm V.Group has won a contract to manage three LNG dual-fuel very large crude carriers owned by International Seaways and chartered by Shell.

These vessels are currently under construction in South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME) and would be joining V.Group’s fleet management in the first quarter of 2023, according to a statement by V.Group.

In addition to their LNG-powered engines, the ships also feature optimized hull forms and propellers, wake improvement ducts, and rudder bulbs to further improve vessel efficiency.

“This success combined with our work with LNG and LNG dual-fueled vessels in France mean we are well poised to support the growth of the global LNG fleet; a strategic priority for V.Group,” the company’s CEO René Kofod-Olsen said.

“We see LNG as the primary transition fuel to meet shipping’s decarbonization goals,” he said.

V.Group did not reveal any additional details regarding the contract.

Earlier this year, its unit V.Ships won a contract to manage one LNG-powered very large crude carrier, Eagle Valence, owned by Malaysia’s AET and chartered by France’s TotalEnergies.

Such as International Seaways, AET also chartered three LNG dual-fuel VLCCs to Shell while Advantage Tankers chartered four vessels.

Shell announced these deals in March last year. DSME will build all of the ten ships.

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