V.Group to technically manage three LNG-fuelled newbuilds

UK-based ship management company V.Group will be providing full technical management of the three LNG dual-fuel new build ships currently under construction at Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME).

New York-based tanker company International Seaways (INSW) owns these three LNG dual-fuel very large crude carriers. V.Group said the vessels will be joining its fleet management in the first quarter of 2023.

Upon delivery, the three vessels will be employed on long-term time charters to Shell.

In addition to their emission-reducing LNG-powered engines, the ships also feature optimised hull forms and propellers, wake improvement ducts, and rudder bulbs to further improve vessel efficiency. 

René Kofod-Olsen, CEO of V.Group, said: “International Seaways’ trust in V.Group recognizes the considerable investments we have made in our LNG capabilities… This success combined with our work with LNG and LNG dual-fueled vessels in France mean we are well poised to support the growth of the global LNG fleet; a strategic priority for V.Group. We see LNG as the primary transition fuel to meet shipping’s decarbonisation goals.”

William Nugent, senior vice president at International Seaways, added: “At International Seaways, we are strongly committed to both advocating for and implementing leading ESG practices.  LNG provides a solid window of opportunity for the shipping industry to decarbonise and we see the future of INSW working more in the LNG segment.”

Recently, V.Group reinforced its commitment to decarbonisation of the shipping industry by launching a dedicated ‘Sustainability & Decarbonization’ department. Moreover, it entered into a strategic partnership with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping.