Avenir LNG signs charter extension deals for two of its bunker vessels

UK-based LNG supplier Avenir LNG has secured another two-year charter agreement for its LNG bunker vessels Avenir Advantage and Avenir Accolade.

PHOTO: Avenir LNG’s bunker vessel Avenir Accolade. Avenir LNG

Future Horizon, a joint venture between Avenir LNG and MISC, has signed a new two-year charter extension agreement for the 7,500 cbm capacity Avenir Advantage with PETCO Trading Labuan Company Ltd (PTLCL), a subsidiary of Malaysian state-owned PETRONAS.

The agreement will aid PTLCL supply LNG as bunkering fuel to customers in Malaysia and Southeast Asia. Avenir Advantage has been chartered to PETRONAS since 2020.

Avenir LNG has also secured a time-charter agreement for the 7,500 cbm capacity Avenir Accolade with NFE Transport Partners, a division of US-based energy firm New Fortress Energy (NFE), for a duration of up to two years.

Prior to this, Avenir Accolade was engaged in a three-year bareboat charter contract with Hygo Energy Transition, which is also a subsidiary of NFE. In a bareboat charter contract, a company leases a vessel without a crew or additional services.

According to classification society DNV data, Avenir Advantage was delivered in 2020 and has been operating in Asia, especially in Malaysia. On the other hand, Avenir Accolade was delivered in 2021 and has been operating in the Americas, specifically Brazil.

By Tuhin Roy

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