Neste hires Terntank’s e-methanol-ready product tankers

Finnish company Neste has signed an agreement with Terntank Rederi A/S for time chartering two new lower-emission product tankers. 

As disclosed, the tankers are constructed to transport a wide variety of liquid cargoes including renewable raw materials, such as waste and residue oils and fats, to Neste’s refineries.

At the refineries, products such as renewable diesel and sustainable aviation fuel (SAF) will be loaded for transport. 

The ships, each able to carry altogether 15,000 tons of chemicals, were ordered by Terntank, designed by Kongsberg, and will be built by CMHI Jinling Shipyard in Yangzhou, China. The ships are due for delivery during the second half of 2025 and beginning of 2026. 

The units are designed with foldable suction sails and dual-fuel engine enabling the use of e-methanol as fuel, which is produced with Power-to-X technology using captured carbon and renewable energy.

Both new tankers are ice-strengthened and equipped with Terntank’s Hybrid Solution® electric power supply system, battery pack and on-shore power connection. The ships can operate on new low-emission fuels such as e-methanol to meet net-zero emission goals. 

Their design and onboard emission reduction technologies are expected to further reduce Neste’s environmental impact and emissions of shipping.

These next-generation product tankers are forerunners when it comes to reaching the climate targets set by the International Maritime Organization (IMO), according to the company.

“Our partnership with Terntank supports our commitment to sustainability, particularly our target towards reducing emissions across our value chain. With these vessels we continue to reduce the emissions and environmental impacts of transportation. We are delighted to partner with Terntank,” said Lauri Helin, Vice President Logistics and Operations, Oil Products at Neste.

“It is great to have Neste back again as a time charter partner after 10 years. We are happy to be able to provide them with the state-of-art product tankers and innovative technologies to minimize the environmental impact of shipping and work together towards carbon neutrality targets,” stated Tryggve Möller, owner, Terntank.

Recently, Terntank also signed a charter deal with North European Oil Trade (NEOT), a Finland-based group specializing in oil and bioproducts sale in the Nordic countries, for two wind/methanol-ready hybrid tankers.