London, 25th April 2024, Avenir LNG Limited (NOTC: AVENIR or the “Company”) announces today that it has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering Co. Ltd (“SOE”) in China, a subsidiary of CIMC Enric, for two 20,000cbm LNG Bunker & Supply Vessels which are scheduled to be delivered in Q4 2026 and Q1 2027.
The newbuildings will feature new Type C tank designs, lower boil off rates, the latest engine technologies, hull form optimisation, and subcoolers which offer carbon emission reductions and minimises cargo losses compared to other vessels of this size. The vessel design enables maximum compatibility and versatility for loading and discharging LNG and BioLNG to a wide range of receiving vessels and terminals reflecting the growing needs of our customers. This major new investment programme marks the second phase of growth for the Company, increasing the fleet by 40% and 80% in terms of total capacity. This order will further enhance Avenir’s position as a leading provider of LNG Bunker Vessels.
Jonathan Quinn, Managing Director, commented:
"We are pleased to be returning to SOE for our newbuilding programme and continuing our relationship with the shipyard where we successfully built our last four vessels. We look forward to welcoming these two new state-of-the-art vessels to our fleet in 2026 and 2027. With the demand for LNG and BioLNG as a bunker fuel set to grow over the next decade, these vessels will play a vital role in ensuring security of supply and decarbonising global shipping markets."
About Avenir LNG
Avenir is a leading midstream LNG & BioLNG company focussed on serving small scale demand for the maritime sector, industrial consumers, and power generation. We own and operate a fleet of 5 modern LNG Bunker and Supply Vessels with 2 vessels under construction and a small-scale LNG terminal in Sardinia, Italy.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
