UK-based small-scale LNG player Avenir has ordered two 20,000-cbm LNG bunkering and supply vessels at China’s CIMC SOE.
The joint venture of Stolt-Nielsen, Hoegh LNG, and Golar LNG said in a statement on Thursday that the vessels will be delivered in the fourth quarter of 2026 and the first quarter of 2027.
Avenir did not provide the price tag of the order.
The newbuildings will feature new type C tank designs, lower boil-off rates, the latest engine technologies, hull form optimization, and subcoolers which offer carbon emission reductions and minimizes cargo losses compared to other vessels of this size, it said.
Also, the vessel design “enables maximum compatibility and versatility for loading and discharging LNG and bio-LNG to a wide range of receiving vessels and terminals reflecting the growing needs of our customers,” Avenir said.
Second phase of growth
This new investment program marks the second phase of growth for the company, increasing the fleet by 40 percent and 80 percent in terms of total capacity.
“We are pleased to be returning to SOE for our newbuilding program and continuing our relationship with the shipyard where we successfully built our last four vessels,” Jonathan Quinn, managing director of Avenir said.
“With the demand for LNG and bio-LNG as a bunker fuel set to grow over the next decade, these vessels will play a vital role in ensuring security of supply and decarbonizing global shipping markets,” he said.
In May 2022, Avenir took delivery of the 20,000-cbm Avenir Achievement, chartered by Shell, from CIMC SOE, concluding its initial asset development program.
VesselsValue data shows that the price tag for Avenir Achievement, which was ordered back in 2018, was at about $56 million. The data suggests that its newbuild value is at $66.5 million.
Avenir Achievement also has a sister vessel but Avenir sold it to a joint venture consisting of China’s terminal operator Shanghai International Port (SIPG) and Shenergy.
The small-scale player also has four 7,500-cbm LNG bunkering vessels in its fleet, and it owns the Higas terminal located on the Italian island of Sardinia.