Total Charters Its First LNG-Powered VLCCs

Source: AET
Source: AET

Published Apr 8, 2020 4:41 PM by The Maritime Executive

Total has signed an agreement to charter its first two LNG-powered very large crude carriers (VLCCs). 

The two vessels, which are able to carry about 300,000 tons of crude oil each, will be delivered in 2022 and will join the time-chartered fleet of Total. The VLCCs will be chartered from Malaysian shipowner AET. AET currently operates two LNG dual-fuel Aframax vessels and two LNG dual-fuel Dynamic Positioning Shuttle Tankers within its global fleet.

The new dual-fuel vessels have been designed with LNG propulsion to benefit from reduced greenhouse gas emissions and with the latest technologies to further lower their consumption. The vessels comply with IMO Tier III levels, the IMO 2020 sulfur cap and represent a significant step towards the IMO’s ambition to reduce carbon emissions by 50 percent by 2050 from a 2008 baseline.

The supply of LNG for the two LNG-powered VLCCs will be provided by Total Marine Fuels Global Solutions, Total’s dedicated business unit in charge of worldwide bunkering activities.

“LNG is the best and immediately available solution to reduce the environmental footprint of shipping,” said Luc Gillet, Senior Vice-President Shipping at Total. “The use of LNG to fuel our chartered vessels is the illustration of our determination to reduce the carbon footprint of our activities. With this decision, we reaffirm today our positive contribution to a sustainable shipping industry and our commitment to extend the use of LNG as a clean marine fuel.” 

Total is the second-largest private global LNG player, with an overall portfolio of around 50 Mt/y by 2025 and a worldwide market share of 10 percent. The group has stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the U.S., Australia and Angola and sells LNG in all markets.