Avenir LNG pens charter deal for first LNG bunker vessel

UK-based midstream LNG and bioLNG company Avenir LNG has executed a time charter party with Vitol International Shipping, a unit of Switzerland's Vitol, for its first newbuild 20,000 m³ LNG bunker vessel, the company announced on July 3.

The time charter to Vitol will commence upon delivery from the shipyard in China in Q4 2026 and will serve a period of seven years, with options to extend up to 10 years in total.

In April 2024, Avenir announced that it had ordered two 20,000 m³ LNG bunker vessels from China’s Nantong CIMC Sinopacific Offshore & Engineering, scheduled for delivery in Q4 2026 and Q1 2027.

This transaction increases Avenir’s third-party charter revenue backlog, including options, to over $205mn, the company stated.