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Cryo Shipping and Petronas complete largest LNG bunkering operation in Asia

27 Jan 2021

Independent downstream liquified natural gas (LNG) and biogas supply company Cryo Shipping on Tuesday (26 January) performed the largest LNG bunkering operation to date when it supplied 103,500 dwt shuttle tanker Altera Wave in Malaysian waters along the Singapore Strait, it claims.

Norwegian registered shuttle tanker, Altera Wave, is part of a series of innovative newbuildings developed by innovative shipping company, Altera Infrastructure.

According to the company, Altera Wave and her sister ships are among the world’s most environmentally friendly shuttle tankers ever built, as they utilise LNG as primary propulsion fuel. 

The bunker operation was carried out via ship-to-ship delivery where Altera Wave was supplied with LNG from CRYO Shipping’s hired bunker vessel.

The operation was made possible due a partnership between Cryo Shipping and Petronas – the Malaysian state-owned oil & gas company.

“Our good collaboration with Petronas gives us a unique opportunity to offer an optimal LNG bunker service in South East Asia for our customers, and anchors CRYO Shipping’s position as a global player in the international LNG bunker market,” noted the company.

“Our background from shipping has been crucial in gaining market share,” explains managing director, Nicholai H. Olsen.

“It is important for Cryo Shipping to offer LNG supply from bunker vessels combined with delivery from trucks, containers and terminals. Additionally, offering Ship-To-Ship LNG bunkering is crucial in terms of the increasing growth of LNG-powered ships that are expected to be in operation during this decade.

“The market outlook for the next 10 years is strong and exponential growth, and CRYO Shipping’s investments are important to ensure a good market position at the commencement to the disruptive energy market.”

To date, Cryo Shipping has an investment program of USD 100 million for “green” infrastructure including both investment in LNG bunker vessels and small-scale LNG terminals.

Photo credit: Cryo Shipping

Published: 27 January, 2021

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