Fratelli Cosulich pens charter deal for its second LNG bunkering vessel

Italian shipowner Fratelli Cosulich and PETCO Trading Labuan Company Limited (PTLCL), a trading arm of Malaysian energy major Petronas, have signed a two-year charter agreement for Paolina Cosulich, Fratelli’s latest LNG bunker barge.

Operating under PTLCL, the bunker barge will cater to the increasing demand for LNG as bunker fuel in the Straits, Fratelli stated.

The vessel features a cargo capacity of 8,200 cubic meters of LNG, making it an ideal vessel for bunkering and complex operations, such as cooldowns and gas-ups of various vessel types, Fratelli said, noting that, in addition to LNG, Paolina Cosulich can provide 500 metric tons of marine gas oil (MGO), providing flexibility to accommodate various fuel requirements.

Guido Cardullo, Head of Business Development at Fratelli Cosulich, commented: “I am extremely pleased with the agreement we have reached with PTLCL, a trading arm of PETRONAS. It underscores our mutual commitment to advancing alternative fuels and I am excited for a fruitful and long-lasting partnership.”

To remind, Fratelli Cosulich celebrated the christening and launch of its second small-scale LNG bunkering vessel Paolina in the summer of 2023.

The company’s inaugural LNG bunker vessel Alice Cosulich set sail from Qidong, China, towards Europe in October 2023. This vessel has been chartered to Titan Clean Fuels for a multi-year period.

As for other activities, in December 2023, the shipowner placed an order for its first methanol dual-fueled chemical bunker tanker with a capacity of over 8,000 cubic meters and the ability to carry both green methanol and biofuels.

This vessel is scheduled for delivery in the last quarter of 2025, and as disclosed, it will be located at the Port of Singapore under a fixed-rate time charter contract with global commodities trader Trafigura.