Avenir LNG announces the Time Charter for Avenir’s first Newbuild 20,000cbm LNG Bunker Vessel with Vitol International Shipping Pte. Ltd
03 Julio 2024 - 3:00AM
Avenir LNG announces the Time Charter for Avenir’s first Newbuild
20,000cbm LNG Bunker Vessel with Vitol International Shipping Pte.
Ltd
London, 3rd July 2024, Avenir LNG Limited (NOTC: AVENIR or the
“Company”) announces it has executed a Time Charter Party (“TCP”)
with Vitol International Shipping Pte Ltd (“Vitol”) for Avenir’s
first newbuild 20,000cbm LNG Bunker Vessel. The time charter to
Vitol will commence at delivery from the shipyard in China in Q4
2026 and will serve a period of 7 years with options to extend up
to 10 years in total.In April 2024, the Company announced it had
ordered 2 x 20,000cbm LNG Bunker Vessels with Nantong CIMC
Sinopacific Offshore & Engineering Co. Ltd which due for
delivery Q4 2026 and Q1 2027.This agreement with Vitol solidifies
Avenir’s position as a leading owner and operator of LNG bunker
vessels. Concluding the charter on the first newbuild demonstrates
the markets confidence in Avenir’s investment strategy as well as
securing long term sustainable cashflow for the group and our
shareholders over the next decade. This transaction increases the
company’s third-party charter revenue backlog including options to
over $205 million including options.Mr. Jonathan Quinn, Managing
Director, Avenir LNG, commented:“We are pleased to be partnering
with Vitol to support their LNG Bunkering business. This new
charter agreement demonstrates a continued strengthening we are
seeing in the market, and that Avenir continues to play a pivotal
role in providing modern and efficient vessels to enable the growth
of LNG as a marine fuel. We look forward starting this long-term
relationship with Vitol who we will serve with the same safe,
reliable and operationally excellent service that our customers
have come to expect from Avenir.”Mr. Pablo Galante Escobar, Head of
LNG, EMEA Gas & Power of Vitol added:“We are very pleased to
have concluded this contract with Avenir, a leader in the provision
of LNG Bunkering Vessels; thereby strengthening our LNG and Bio-LNG
Bunkering offering to customers worldwide.”About Avenir LNG
LimitedAvenir is a leading midstream LNG & BioLNG company
focussed on serving small scale demand for the maritime sector,
industrial consumers, and power generation. We own and operate a
fleet of 5 modern LNG Bunker and Supply Vessels with 2 vessels
under construction and a small-scale LNG terminal in Sardinia,
Italy.
- Avenir Vitol Press Release - 030724