Shell charters Avenir Achievement LNG bunkering vessel

UK-based LNG company Avenir LNG has entered into a time charter party (TCP) with Shell for the newbuild LNG bunkering supply vessel Avenir Achievement.

The Avenir Achievement is a 20,000 cubic metres LNG bunkering ship. Chinese shipyard CIMC SOE will deliver the vessel to Avenir in the second quarter of 2022.

The vessel will feature BOG reliquefication and simultaneous operations (SIMOPs) capabilities. Thus, it will be the world’s largest, most efficient, and versatile LNG bunker supply vessel, according to Avenir LNG.

The time charter to Shell will commence at the start of 2023. The parties specifically signed it for a period of three years with an option to extend up to five years.

Moreover, this charter increases Avenir’s overall vessel charter revenues backlog to $81 million as of 1 December 2021.

Peter Mackey, CEO of Avenir LNG, said: “We are delighted to have executed this agreement with Shell for the Avenir Achievement and to play an important role in expanding Shell’s LNG bunkering capabilities. This deal marks another major achievement in Avenir’s development as we fix the last vessel in our current newbuilding programme.”