Denmark’s Celsius charters four LNG carriers to Gunvor’s unit

Denmark’s Celsius Tankers, a unit of Celsius Shipping, has signed long-term charter deals for four newbuild LNG carriers with Clearlake Shipping, a subsidiary of energy trader Gunvor.

This deal boosts the total to nine 180,000-cbm LNG carriers that Celsius chartered to Gunvor’s unit following a deal for four vessels announced in October 2021.

LNG Prime reported in December last year, citing shipbuilding sources, that Celsius ordered four 180,000-cbm LNG carriers at China Merchants Heavy Industry in Jiangsu.

Celsius confirmed in a statement issued on Monday that the Chinese shipbuilder will build and deliver the vessels in 2026 and 2027.

The firm said the vessels will feature MAN ME-GA engines and will be built to ABS class with Enviro+ notation.

“These vessels’ highly efficient design minimizes CO2 emissions and methane slip from operations via installation of air lubrication, enhanced reliquefication capacity, optimization of hull shape and use of the best available paint system to reduce the vessels’ friction in water,” it said.

Including this order in China and ten vessels on order at South Korea’s Samsung Heavy Industries, the company’s LNG fleet now counts 18 180,000-cbm vessels.

JV with ArcLight Capital Partners, Gunvor to own stake in two vessels

Celsius said in the statement that it has formed a joint venture with an affiliate of US-based investor ArcLight Capital Partners to fund two of the LNG carriers.

In addition, Gunvor will have a “significant” equity interest in the other two newbuildings, the first for any independent LNG trading company, demonstrating the strength of Gunvor’s global position in the LNG market, Celsius said.

Geneva-based energy and LNG trader Gunvor reported a record net profit of $2.36 billion in 2022.

“We are very pleased to further expand our relationship with Celsius while demonstrating our commitment to the industry, both as charterers and now through our first major equity investment in LNG carriers,” the company’s co-head of LNG, Kalpesh Patel, said in the statement.

“We are very pleased to continue the growth of the LNG fleet and to expand the relationship with Clearlake and Gunvor,” Celsius chairman, Jeppe Jensen, said.

Jensen noted that the firm delivered its first vessel, Celsius Copenhagen, in 2020 to Clearlake to serve a long-term charter deal, and the relationship with Clearlake has further strengthened with this latest transaction.

Most Popular

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

GTT develops new LNG fuel tank

French LNG containment giant GTT has developed a new cubic-shaped LNG fuel tank for commercial vessels, with a particular focus on LNG-fueled container vessels.

More News Like This

Celsius, Caravel order LNG bunkering duo in China

Denmark’s Celsius Tankers, a unit of Celsius Shipping, and Hong Kong-based Caravel Group have formed a joint venture and ordered two large LNG bunkering vessels in China.

Samsung Heavy bags orders for six LNG carriers

South Korean shipbuilding giant Samsung Heavy Industries has secured contracts worth $1.54 billion to build six liquefied natural gas (LNG) carriers.

EPS welcomes new LNG-powered PCTC in its fleet

Singapore’s Eastern Pacific Shipping took delivery of another LNG-powered pure car and truck carrier in China.

GAC’s first LNG-powered PCTC launched in China

China Merchants Jinling Shipyard in Weihai has floated out GAC’s first LNG-powered pure car and truck carrier.