Furetank and Algoma order another LNG-powered duo in China

Swedish shipowner Furetank and Canada’s Algoma Central have ordered two more LNG-powered tankers at China Merchants Jinling Shipyard in Yangzhou.

FureBear, the 50/50 joint venture between the two firms that ordered four tankers in August and November last year, will own these vessels as well.

The new order for Vinga series vessels grows the FureBear JV to a total of ten ships under construction, with the first vessel slated for delivery in the first quarter of 2024, according to a statement by Furetank.

Furetank said the vessels will trade in Northern Europe adding that several trends in the market have fueled the companies’ decision to extend their fast-growing joint venture.

The Vinga ships are ice-class 1A 17,999-dwt product tankers designed by Furetank together with FKAB Marine Design.

Also, all of the vessels have dual-fuel capability, run on LNG/LBG or gasoil and are fully equipped for shore power.

In addition, they are designed with a battery hybrid solution and other features that reduce fuel and energy consumption.

The Chinese yard will deliver these two new Vinga ships in the second and the third quarter of 2026.

Furetank did not provide the price tag of the vessels.

The two new orders bring the Vinga vessel series to a total of 19 ships.

All ten FureBear vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg, Sweden.

“We see the upcoming phasing out of older tonnage in the market far exceeding the amount of newbuildings underway,” Lars Hoglund, CEO of Furetank, said.

“Since we launched the Vinga series, no other vessels have been introduced that exceed their environmental performance. This encourages us to expand the series, improving our customer service, while continuously developing and refining the emission-saving technology on board,” he said.

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