International Seaways taps V.Group to manage its dual-fuel LNG VLCC newbuilds

US tanker owner International Seaways has contracted shipmanagement and marine services firm V.Group to manage three of its dual-fuel very large crude carriers (VLCCs) currently under construction in South Korea.

The LNG-fuelled VLCC trio, which is being built by Daewoo Shipbuilding & Marine Engineering (DSME), will join V.Group’s fleet management and will be employed on long-term charters with supermajor Shell. 

“International Seaways’ trust in V.Group recognises the considerable investments we have made in our LNG capabilities and leadership. This success, combined with our work with LNG and LNG dual-fuelled vessels in France mean we are well poised to support the growth of the global LNG fleet – a strategic priority for V.Group,” said René Kofod-Olsen, CEO at V.Group.

In addition to being powered by dual-fuel LNG engines, the newbuilds will also feature optimised hull forms and propellers, wake improvement ducts, and rudder bulbs to further improve vessel efficiency.

“At International Seaways, we are strongly committed to both advocating for and implementing leading ESG practices. LNG provides a solid window of opportunity for the shipping industry to decarbonise and we see the future of INSW working more in the LNG segment,” added William Nugent, senior vice president at International Seaways.

The New York-listed owner announced the order for Shell’s charter in March last year. The vessels are scheduled for delivery in the first quarter of 2023.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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