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NEOT signs charter deal with Terntank for wind and methanol powered hybrid tankers

16 Mar 2023

Tanker operator Terntank on Wednesday (15 March) said it ordered new wind and methanol powered 15,000 dwt hybrid tankers with 14 cargo tank segregation in November 2022. 

North European Oil Trade (NEOT), which specialises in oil, renewable and feedstock products trading and wholesale in the Nordic countries, will have the first of these newbuildings for the time charter. The vessel will be delivered in March 2025. 

In addition to the Hybrid Solution®, which enables zero emission approach and minimises harmful pollution in ports located in urban areas, the vessel will be prepared for foldable sails for wind-assisted propulsion and dual-fuel engine, enabling the use of green methanol in the future. 

Green methanol is a low-carbon fuel made from either biomass or renewable electricity and captured carbon dioxide.

The Finnish energy service company Wega has supported the ten-year cooperation and innovated the future shipping together with Terntank and NEOT. Wega facilitated the charter agreement between the companies.

“For NEOT it is extremely important to reduce the carbon footprint of our supply chain, and this has been possible with Terntank with whom we have together been front runners in achieving less emission causing cargo transportation by sea. We are very proud to work together with Terntank as our shipping partner and are highly impressed by the pioneering spirit of the company and how they safely operate the vessels. Also, thank you to the professional crew, who never hesitate to go the extra mile if needed. We are looking forward to a bright future and cooperation for many years to come”, says Marc Scheller, Director of shipping and operations, NEOT.

“The long and valuable relationship with NEOT, the company that has ambitious sustainability goals, enables us to continuously develop our vessels and to pilot new innovative environmental technologies onboard. Environment is important for us, and we want to leave it to future generations and set the bar high for next generation tankers”, says Tryggve Möller, owner, Terntank.


Photo credit: Terntank
Published: 16 March, 2023

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