Fincantieri Bay Shipbuilding has agreed to partner with PNE Marine Holdings (“PNE”), an affiliate of Polaris New Energy (“Polaris”) to build a second 5,500 cubic meter (CBM) LNG bunker barge. This new barge will be a sister vessel to the LNG bunker barge Clean Canaveral, which will deliver to Polaris in mid-November.
Fincantieri Bay Shipbuilding is the main commercial business unit of Fincantieri Marine Group in the United States.
Demand for economical supply of LNG fueling the maritime sector is growing rapidly. Over the next several years 400 new vessels utilizing LNG are expected in service. LNG is the leading solution to fuel the maritime sector as the industry advances its sustainability goals through a transition to lower carbon fuels. The new articulated tug and barge adds to Northstar’s growing fleet delivering LNG to cruise ships, container vessels, bulk carriers, car carriers, and tankers that are in service or on order today.
The 5,500 cubic meter ATB will be fitted with four 1,375 CBM IMO Type C tanks. It will utilize a cargo handling system designed and developed by Wartsila. Upon completion, the vessel will be 340’ overall length, 66’ beam, and 32’-10” deep. The ATB will be an Oceans Classed ABS barge.
PNE and Polaris are subsidiaries of Northstar Terminals, a portfolio company of funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
About Northstar Terminals
Northstar Terminals is focused on the production and delivery of LNG as a clean transportation fuel through its subsidiaries: Northstar Jacksonville, PNE Marine Holdings and Polaris New Energy
Northstar Jacksonville has a fifty percent ownership in JAX LNG, a partnership with Pivotal LNG, a subsidiary of Berkshire Hathaway Energy, which operates a 120,000 gal per day LNG plant and marine terminal in Jacksonville, Florida. The JAX LNG facility is currently being expanded to 360,000 gallons per day and four million gallons of storage.
PNE Marine Holdings and Polaris New Energy are wholly owned subsidiaries providing marine transportation logistics to meet the growing demand for LNG as a maritime fuel.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments,
with $158 billion in assets under management as of September 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide.
About Fincantieri Bay Shipbuilding
Located in Sturgeon Bay, Wisconsin, Fincantieri Bay Shipbuilding (FBS) is an industry leader in the construction, conversion, and repair of large ships – tracing its rich history back more than 100 years. The diversified FBS portfolio includes articulated tug-barge units, dredges and dredging support equipment, automated loading carriers, ferries, and offshore support vessels. On the repair side, FBS is an expert at managing critical deadlines in the repair and sustainment of bulk carriers and other Great Lakes Fleet ships.
Shipbuilding facilities at the 63-acre plant include a large graving dock, a U.S. Navy-certified drydock, and lifting capacity to meet the most demanding requirements. Erection buildings are climate-controlled and equipped with sophisticated computer-aided manufacturing equipment. Fincantieri’s skilled workforce has extensive shipyard construction experience, in-house engineering, and a management team focused on client satisfaction and on-time delivery. Fincantieri Bay Shipbuilding is an operating unit of Fincantieri Marine Group (FMG), the United States division of global shipbuilding giant, Fincantieri.
About Fincantieri
Fincantieri is one of the world’s largest shipbuilding groups and has built more than 7,000 vessels in over 230 years of maritime history. A leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, From high-complexity unique vessels and ferries to mega-yachts, ship repairs and conversions, systems, and components production, and after-sales services, Fincantieri operates in the United States through its subsidiary Fincantieri Marine Group (FMG). This company, which serves commercial and government customers in the USA, including the U.S. Navy and Coast Guard, has three shipyards (Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding, and Fincantieri ACE Marine) located in the Great Lakes.
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