Avenir LNG Partners with ExxonMobil for New Bunker Vessel
Avenir LNG Limited has secured a significant Time Charter Party (TCP) with SeaRiver Maritime, LLC, the marine transportation arm of Exxon Mobil Corporation. This agreement, which involves Avenir’s second newbuild 20,000cbm LNG bunker vessel, is set to commence in the first quarter of 2027. The partnership aims to enhance Avenir’s chartering strategy and ensure sustainable cash flow for its upcoming projects.
Strategic Partnership and Future Growth
The TCP agreement marks a pivotal moment for Avenir LNG, as it effectively de-risks the company’s 2024 newbuilding program. This multi-year charter not only provides a stable revenue stream but also aligns with Avenir’s recent success in signing five new charter agreements over the past year, all with reputable market entrants. Jonathan Quinn, Managing Director of Avenir LNG, expressed enthusiasm about the partnership, stating, “We are delighted to announce this agreement to enter into a long-term partnership with ExxonMobil.” He emphasized that this collaboration supports the growth of LNG and BioLNG as marine fuels globally, reinforcing Avenir’s commitment to expanding its operations.
ExxonMobil’s involvement in this agreement is equally significant. Amy Wood, Global Low Emission Fuels Business Development Manager at ExxonMobil, highlighted the company’s eagerness to enter the LNG marine bunkering market. She noted that this partnership allows ExxonMobil to leverage its scale and integration to meet the rising demand for LNG and bio-LNG, addressing the evolving needs of the maritime industry. This collaboration is expected to play a crucial role in shaping the future of marine fuel solutions.
