Shell pens long-term charters for 14 LNG-fuelled tankers

Illustration; Image courtesy of Teekay

The Hague-based LNG giant Shell has agreed to charter a fleet of new liquefied natural gas-fuelled crude oil and products tankers in order to decarbonize shipping.

Shell’s subsidiary, Shell Tankers Singapore, agreed a long-term deal to charter a fleet of ten LNG dual-fuel Aframax crude oil tankers from Sinokor Petrochemical.

The vessels are currently under construction at Samsung Heavy’s yard in South Korea and are scheduled for delivery in 2021.

Separately, Shell agreed long-term charters for four new LNG dual-fuel oil products tankers from institutional investors advised by J.P. Morgan, with delivery of the vessels also expected from 2021.

Mark Quartermain, Shell’s VP for crude trading and supply, said: “LNG is already a commercially competitive way to reduce emissions from ships, including those delivering oil to our customers. This is an important step in Shell’s wider drive to help decarbonize the shipping sector, both as a leading supplier and user of LNG.

The International Maritime Organization has set a goal to reduce total annual greenhouse gas emissions from shipping by at least 50 percent by 2050, compared to 2008. Compared to some marine fuels, LNG can cut greenhouse gas emissions from ships by up to 21 percent, according to an emissions study by Thinkstep.

LNG is also virtually free of sulfur and particulates, enabling ship operators to significantly reduce their local emissions.

Share this article

Follow LNG World News


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >