Norway-based developer of small scale liquefied natural gas (LNG) sea transport and bunkering vessels Kanfer Shipping on Tuesday (19 October) said it has signed a yard agreement with Taizhou Shipyard, China to construct two 6,000 cbm tailor-made LNG bunkering and distribution vessels during the end of May.
The development is currently in concrete discussions for chartering the vessels to solid counterparts and implementing additional measures to make the newbuilds presentable to the charterers.
Kanfer Shipping notes it will be able to share more about the development, including an option for additional two ships, in time to come.
The shipping market currently has a total of 175 dual fuelled ships in operation and an additional order of 250 vessels will be made by the end of the year. Kanfer Shipping expects an increase in number of dual fuelled ships emphasising LNG as the transition fuel.
However, the LNG prices are higher compared to other fossils making it an area of concern to some market players causing a delay to bunkering and distribution operations, states the company.
“We are however not concerned about finding a home for these ships and we also believe that the LNG prices will eventually fall,” it states.
Photo credit: Kanfer Shipping AS
Published: 20 October, 2021
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