Switzerland-based commodity trading giant Vitol has expanded its LNG bunker fleet via a time charter deal with Avenir LNG and an order for two vessels at the CIMC Sinopacific Offshore & Engineering shipyard in China.
The time charter with small-scale liquified natural gas player Avenir LNG was for the company’s first 20,000 cu m LNG bunker newbuild. The time charter will begin at delivery from the shipyard in China in the fourth quarter of 2026 and will last seven years with options to extend up to 10 years in total.
Avenir ordered two 20,000 cu m LNG bunker vessels in April from Nantong CIMC Sinopacific Offshore & Engineering due for delivery in the fourth quarter of 2026 and the first quarter of 2027. This order increases Avenir’s third-party charter revenue backlog including options to over $205m including options.
Furthermore, Vitol ordered one 12,500 cu m and one 20,000 cu m LNG bunker vessel at the CIMC which will be delivered in the fourth quarter of 2026 and the third quarter of 2027, respectively.
