Avenir LNG has entered into a multi-year time charter party (TCP) with Eni’s wholly-owned subsidiary LNG Shipping for the Avenir Aspiration, a 7,500m3 liquefied natural gas (LNG) bunker vessel.
The charter agreement is set to commence in 2025.
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With this latest development, Avenir demonstrates its continued commitment to executing its chartering strategy, having completed four new term charter agreements for its fleet of five operational vessels, and two that are under construction, in the last 12 months.
The latest charter with Eni is expected to significantly contribute to the company’s third-party charter revenue backlog, to more than $285m, which includes options that will provide long-term sustainable cash flow for the group and its shareholders.
Avenir LNG managing director Jonathan Quinn said: “We are excited to be working with Eni to support their expansion into the LNG Bunkering market.
“This transaction further solidifies Avenir as the trusted partner for modern and efficient small-scale LNG vessels as well as delivering on our strategy to facilitate the growth of LNG as a marine fuel globally.
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By GlobalData“We look forward to embarking on this long-term relationship with Eni whom we will serve with the highest safety and operational standards which Avenir has come to be known for.”
Currently, the Avenir Aspiration operates alongside the Avenir Ascension in Northwest Europe.
It provides ship-to-ship bunkering and small-scale supply services as part of Avenir Supply and Trading, the physical LNG trading division of Avenir.
In March this year, Fincantieri collaborated with RINA and Eni on initiatives aimed at maritime industry decarbonisation, including the establishment of a permanent global observatory in Italy.
