Titan will retrofit 12,000 cu.m Seapeak Vision and its sister ship with bunkering capabilities
Amsterdam-headquartered low and nil emission gasoline provider Titan has acquired two 12,000 cu.m fuel carriers from Seapeak. Both inbuilt 2011, they’re listed on the Seapeak fleet list as LPG carriers however are recognized within the Equasis information base as mixture LNG/LPG carriers. Titan will probably be retrofit them to supply LNG bunkering capabilities, enabling them to each transport and bunker LNG, liquefied biomethane (LBM), and, within the longer-term, hydrogen derived e-methane.
The 152 x 19.8 meter sisters vessels will be a part of Titan’s fleet in March this yr. They will function within the Mediterranean and Northwestern Europe and can cater for elevated demand for LNG and LBM (bio-LNG) in these areas.
The vessels and their retrofits are being financed by Sole Shipping Group via a long-term bareboat constitution leasing construction. Sole Shipping Group is a significant European supplier of economic leasing constructions. Titan was suggested on this transaction by Endegeest Consulting BV.
Titan’s increasing fleet already contains a mixture of owned and chartered vessels and the corporate has an bold newbuild program consisting of Titan Krios and Titan Hyperion designs. The two new additions to the fleet permit Titan to ship gasoline to a wider vary of LNG-powered vessels, together with all containerships. After the upgrades, the vessels will have the ability to load in any respect main LNG terminals and carry out ship-to-ship bunkering and loading operations.
Thanks to their cargo conditioning capabilities, the vessels are additionally able to doing extra advanced initiatives, together with gas-up cool-down operations and commissioning parcels. On high of this, the cargo tanks are product of stainless-steel, making them suitable with propylene, ethylene, and ammonia.
“Retrofitting these ships so that they can trade and bunker LNG, LBM, and in the longer-term hydrogen derived e-methane, offers Titan even more flexibility in its clean fuel operations,” mentioned Douwe de Jong, fleet improvement director at Titan. “The team is currently specifying the upgrades and finding a suitable shipyard for the retrofit work.”
“A solid double digit EBITDA in 2022 has allowed us to make this additional investment in our fleet,” Niels den Nijs, proprietor and CEO of Titan. “This decision aligns with Titan’s ambitious growth strategy in Europe and the Mediterranean. We look forward to continuing to work with our partners, like Sole Shipping Group, to expand our fleet to support our LNG and LBM distribution targets and serve our customer’s long-term demand.”
Titan says it stays dedicated to supplying all clear fuels that may decarbonize delivery, transportation and trade in a considerable method as they turn out to be possible. It acknowledges that decarbonization would require a variety of options and says that the LNG pathway to net-zero emissions, utilizing LNG, LBM and hydrogen-derived e-methane, is a sensible possibility out there proper now.
