Geneva-based energy trader Vitol has ordered two liquefied natural gas (LNG) bunkering vessels from China’s CIMC Sinopacific Offshore & Engineering in Nantong.
Vito revealed the order in a statement issued on Wednesday.
CIMC SOE will build for Vitol’s unit Vitol International Shipping one 12,500-cbm and one 20,000-cbm LNG bunkering vessel.
According to Vitol, the company will take delivery of the vessels in the fourth quarter of 2026 and the third quarter of 2027.
Vitol did not reveal the price tag of the deal.
In addition to the order, the trader also just signed a seven-year charter deal for one LNG bunkering vessel with UK-based small-scale player Avenir LNG.
CIMC SOE is also building this 20,000-cbm vessel which will start serving Vitol in the fourth quarter of 2026.
Pablo Galante Escobar, head of LNG, EMEA gas & power, Vitol said in the statement shipowners worldwide are looking to reduce their emissions.
“We are delighted to strengthen our offering to them by investing in LNG/bio-LNG bunkering, thereby increasing their options,” he said.
Vitol boosted its LNG volumes in 2023 to about 17.3 million tonnes of LNG on the back of higher demand in Europe.
The firm, which entered the LNG market in 2006, reported LNG volumes of about 14 million tonnes in 2022, 12.9 million tonnes in 2021, 10 million tonnes in 2020, and 10.5 million tonnes in 2019.
Besides trading LNG, Vitol has also been investing in bio-LNG infrastructure for vehicles through its subsidiary ViGo Bioenergy.
The trader says it is also one of the world’s largest providers of bunker fuels, through its subsidiary Vitol Bunkers.