Consort Bunkers ordering up to 20 x IMO Type II bunker tankers in region of USD $350 million
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by Admin
Singapore-based bunker supplier and logistics services provider Consort Bunkers Pte Ltd (Consort) could be investing in up to 20 units of IMO Type II bunkering vessels capable of carrying conventional bunkers, biofuels (of up to B100), as well as methanol, learns Manifold Times.
Consort’s fleet renewal strategy to transition the company into a green and renewable marine fuels supplier formally started in 2023.
“In April 2023, we started the first phase of our fleet renewal plan by contracting six ‘L’ series 6,500 dwt IMO Type II bunker tankers with China Merchants Jinling Shipyard (Nanjing) Co., Ltd.,” Mr SK Yeo, Founder of Consort Bunkers, told the bunkering publication.
“We further exercised the option in January 2024 to increase the number of newbuild ‘L’ series 6,500 dwt IMO Type II bunker tankers from six to nine ships.”
He highlighted Pearl Legacy [pictured], the first of these newbuildings, will be delivered to Consort in August; the vessel is expected to arrive in Singapore around October to start bunkering operations.
In July 2024, Consort activated the second phase of its fleet renewal operation by placing an order to COSCO SHIPPING Heavy Industry (Guangdong) Co.,Ltd. for four newbuild ‘O’ series 7,999 dwt IMO Type II bunker tankers.
To date, the firm’s committed orders at both shipyards totals 13 IMO Type II bunkering tankers with delivery by end of 2026.
Consort retains the option to exercise additional bunker tankers and if activated, Consort’s newbuilding order for IMO Type II bunker tankers will increase to 20 units with delivery extended a year to 2027.
“These ships are going to be deployed within the Singapore, United Arab Emirates (UAE), and Europe regions as bunkering vessels when delivered,” Mr Yeo informed.
“The bigger picture is for the company to endeavour to move forward and get ourselves prepared for methanol bunkering which will take place in the future.
“But before this development becomes mainstream, these vessels will still support both conventional marine fuel and biofuel bunkering operations.”
Related: Singapore-based Consort Bunkers, ClassNK and partners team up on multi-fuel bunkering ships
Related: Consort Bunkers receives “Pearl Khaoyai”, prepares for IMO 2030/2050 with IMO Type 2 bunker tanker orders
Photo credit: Consort Bunkers
Published: 8 July 2024
