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CRYO Shipping establishes LNG physical bunker supply in South East Asia

05 Apr 2021

Norwegian downstream liquified natural gas (LNG) and biogas supply company CRYO Shipping (CRYO) on Friday (2 April) said it is establishing its LNG bunker service in South East Asia, which was marked by an LNG bunkering operation completed by CRYO in the Singapore Strait last week.

Altera Infrastructure’s (formerly Teekay) newest shuttle tanker, M/T Altera Wind, received almost 1,900 cbm of LNG fuel from CRYO. This is Altera’s second shuttle tanker to be supplied with LNG from CRYO in South East Asia.

The company said it is continuously expanding their operational service to meet growing demand.

In January, CRYO 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.

“We see a significant increase of interest in LNG as fuel for deep sea shipping, and it’s strategic important for us to provide LNG bunker services within the major trade lanes to support deep sea shipping’s energy transition from dirty oil to clean gas,” said CRYO’s managing director, Nicholai H. Olsen.

“CRYO is challenging the traditional and established multi-international energy companies, and representing the opposite to the large gas majors by offering lean, flexible and cost-effective LNG fuel supplies.

“Our background and passion for shipping has been crucial in gaining market share. The bunker service is based on our experience and understanding of how dynamic, unique and operationally demanding the shipping industry is.

“The market outlook for the next 10 years is strong and exponential growth, and CRYO Shipping is targeting a lead position in the disruptive marine energy market.”

Related: Cryo Shipping and Petronas complete largest LNG bunkering operation in Asia


Photo credit: CRYO Shipping
Published: 5 April, 2021

 

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