Norway's Cryo Shipping is stretching its LNG bunkering services out into Asia.
The company said it has set up a new hub focusing primarily on Singapore to meet growing demand outside its European heartland.
The Bergen-based company's owner and managing director, Nicholai Olsen, said a bunkering of Altera Infrastructure's 103,000-dwt shuttle tanker Altera Wave (built 2021) in Singapore at the end of January was part of setting up the service in Asia.
The company has now completed the refuelling of Altera's newest shuttle tanker, the 103,000-dwt Altera Wind (built 2021), with almost 1,900 cbm of LNG.
"Initially we're targeting to serve shipowners with LNG bunkers in Singapore, Malaysian and Indonesian ports," Olsen told TradeWinds.
"It involves ship-to-ship bunkering, ie larger LNG fuel stems for deepsea shipping."
Spot deals on offer
Cryo offers spot LNG bunkering with no long-term contracts required.
"We shall ensure repeat bunkering by offering excellent service for our customers like we have done for Altera Infrastructure," the CEO said.
Cryo has noted a significant increase of interest in LNG as fuel for deepsea shipping.
"It's strategically important for us to provide LNG bunker services within the major trade lanes to support deepsea shipping’s energy transition from dirty oil to clean gas," Olsen added.
The company uses a combination of bunker vessels and trucks.
Exponential growth?
"The market outlook for the next 10 years is strong and exponential growth, and Cryo Shipping is targeting a lead position in the disruptive marine energy market," said Olsen.
TradeWinds reported in January that Cryo is set to place an order for a pair of LNG bunker vessels for its European operations.
Olsen is in talks to order two bunker vessels of between 5,000 cbm and 6,000 cbm for delivery in 2023.
The company claimed a record for its first Altera refuelling, saying it was the largest LNG-fuelled merchant ship to be supplied with LNG from a bunker vessel in Asia.
