Tanker operator Terntank is expanding its long-standing partnership with Finland’s North European Oil Trade (NEOT) through a new time charter deal for one of its methanol and wind assist-ready vessels booked for construction in China.
Last November, the Swedish company, which operates its fleet from Skagen, Denmark, placed an order for up to four battery hybrid 15,000 dwt ships at China Merchants Jinling Shipyard in Yangzhou. The first of these newbuilds will be delivered in March 2025 to NEOT, which currently has six Terntank vessels in service.
The newbuilds, also powered by gasoil and biofuels, have been designed by Kongsberg. The ships will carry chemicals, oil products, and biofuels and be equipped for shore power. In addition to the 40% CO2 reductions Terntank achieved on its previous Avic series, the wind assistance is expected to further reduce the emissions by 8%, excluding the use of green methanol in the future.
During the past ten years, Terntank and NEOT have together piloted the first liquefied natural gas (LNG) and liquefied biogas (LBG)-powered tankers in operation. The pioneering of new technologies continued with the hybrid battery system and shore power connection for tankers in 2020 and the continuous development of just-in-time arrival of vessels. The Finnish energy service company Wega has supported the ten-year cooperation and facilitated the charter agreement between the companies.
“For NEOT it is extremely important to reduce the carbon footprint of our supply chain, and this has been possible with Terntank with whom we have together been front runners in achieving less emission causing cargo transportation by sea,” said Marc Scheller, director of shipping and operations at NEOT.
