Vitol Group is adding three LNG bunkering vessels to its shipping fleet. (Source: Shutterstock)
Vitol Group is adding three LNG bunkering vessels to its shipping fleet, the company announced July 3.
A bunkering boat fuels other ships. Vitol acquired one ship through a charter agreement with Avenir LNG and the other two through an order with shipyard CIMC Sinopacific Offshore & Engineering Co. in China.
The ships will be ready for service starting in 2026.
LNG-powered vessels release about 25% less CO2 than other conventional marine fuels, according to the International Council on Clean Transportation, an environmental study group. Ships can also reduce their environmental footprints by using bio-LNG, a sector in which Vitol is also investing in.
Bio-LNG is created using methane generated by organic waste, such as household garbage and sewage.
“Shipowners worldwide are looking to reduce their emissions,” said Vitol’s LNG head Pablo Galante Escobar in a press release. “We are delighted to strengthen our offering to them by investing in LNG/bioLNG bunkering, thereby increasing their options.”
Vitol has traded LNG for 20 years and traded more than 17 million tons in 2023 through the global market, according to the press release.
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