NYK Line set to buy 50% stake in Avenir LNG

Norwegian shipping firm Stolt-Nielsen has agreed to sell a 50% stake in bunker supplier Avenir LNG to Japanese shipping firm Nippon Yusen Kabushiki Kaisha (NYK Line).

IMAGE: Avenir LNG's bunker vessel, Avenir Achievement. Avenir LNG

Avenir LNG currently supplies LNG and mass-balanced liquefied biomethane (LBM) at ports across the Baltic and Adriatic regions, including those in Germany, Sweden, Finland, Poland and Italy.

It operates a fleet of five LNG bunkering vessels and has two more under construction for delivery by 2027. The company can offer ship-to-ship, ship-to-truck and ship-to-terminal deliveries, according to its website.

This deal will support the expansion of Avenir’s physical presence on a more global scale "to meet the growing demands of the market", the companies said in a joint statement.

The transaction will be carried out through Stolt-Nielsen’s subsidiary Stolt-Nielsen Gas and is expected to close later this year, subject to regulatory approval.

By Konica Bhatt

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