Shell signed agreements to charter ten new crude tankers powered by dual-fuel liquefied natural gas (LNG) engines, according to the company's release.
Four of the very large crude carriers (VLCCs) have been chartered from Advantage Tankers, three from AET and three from International Seaways. All 10 ships will be built in South Korea by DSME, the first operational from 2022 and be on charter to Shell for seven years. The main engines and vessel design chosen for the ships will mean these tankers have the lowest possible methane slip and highest fuel efficiency including on average 20% less fuel consumption compared to eco VLCC vessels on the water.
Shell continues to significantly invest in LNG for its long-term charter fleet with 14 in service by the end of 2021. This order is expected to bring the total global dual fuel LNG fleet to 475, marking yet another important step on the predicted doubling of LNG-fuelled vessels on the water by 2023, as ship owners respond to customer calls to choose the cleanest technologies available today.
Shell is rapidly making LNG available on global trading routes at major ports in Europe, Asia and North America to meet customer demand with tankers and the bulk and liner segments continuing to grow uptake. By 2023, marine LNG demand is expected to reach around 3.6 million tonnes with 45 bunker vessels expected to be in service.
ABOUT AET
AET is a leading global owner and operator of maritime transportation assets and specialized services, committed to moving energy in a responsible, sustainable and eco-efficient way. Its fleet of about 80 vessels includes two LNG dual-fuel Dynamic Positioning Shuttle Tankers, which are amongst the first ever built in the world. AET is currently building two LNG dual-fuel VLCCs to be delivered from 2022 and the overall orderbook comprises eight vessels. AET is headquartered in Singapore with commercial and operational offices in Malaysia, Houston, London, Brazil, Norway and Uruguay and is a wholly owned subsidiary of Malaysian energy logistics group, MISC Berhad.
ABOUT INTERNATIONAL SEAWAYS
International Seaways, Inc. is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 36 vessels, including 11 VLCCs, two Suezmaxes, four Aframaxes/LR2s, 13 Panamaxes/LR1s and 4 MR tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY.
ABOUT ADVANTAGE TANKERS
Incorporated in 2014, Advantage Tankers demonstrated a strong entry into the tanker sector and with its well experienced management has committed leadership in both efficient and reliable transportation. Currently Advantage has a fleet of five Aframaxes, six suezmaxes, two VLCC’s and five product tankers. Headquartered in Switzerland and chartering offices in London, Advantage has established one of the world’s best reputations in experienced operations with a proactive top down approach.
ABOUT SHELL
Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. Shell uses advanced technologies and takes an innovative approach to help build a sustainable energy future.