Terntank has extended its relationship with charterer North European Oil Trade (NEOT) after the latter agreed to charter its latest green tanker newbuildings.
The 15,000-dwt chemical/product/biofuels tankers are on order at China Merchants Jinling Shipyard, Yangzho for delivery by the spring of 2025.
In addition to being dual-fuel methanol and biofuel-ready, the Kongsberg-designed ships will also be ready to use foldable sails for wind-assisted propulsion.
NEOT, which currently has six of Terntank’s vessels on charter, did not disclose the length of the charter or the rates.
Over the last decade, NEOT and Terntank said they have piloted the first LNG and liquefied biogas (LBG)-powered tankers in operation, with NEOT said to be the first Finnish company to use fossil-free LBG in shipping in 2018.
The pioneering of new innovative technologies is said to have continued with a hybrid battery system and on-shore power connection as the first tankers in the world in 2020.
Terntank and NEOT have also developed just-in-time arrival of vessels to optimise their speed during the voyage to ensure the availability of berths when arriving at port.
Finnish energy service company Wega, which has supported the 10-year cooperation and innovation between Terntank and NEOT, facilitated the latest charter agreement between the companies.
“For NEOT, it is extremely important to reduce the carbon footprint of our supply chain,” NEOT director of shipping and operations Marc Scheller said.
“This has been possible with Terntank, with whom we have together been front runners in achieving less emission-causing cargo transportation by sea.”
Terntank owner Tryggve Moller said the long and valuable relationship with NEOT has enabled the shipowner to continuously develop its vessels and to pilot new innovative environmental technologies onboard.
“Environment is important for us, and we want to leave it to future generations and set the bar high for next generation tankers,” he said.
NEOT Group specialises in oil, renewable and feedstock products trading and wholesale in the Nordic countries. In addition, it supplies significant amounts of fuel to the shipping and aviation sectors.
