UK-based Avenir LNG Limited (Avenir) has signed a Time Charter Party (TCP) for its second newbuild 20,000cbm LNG bunker vessel with SeaRiver Maritime, LLC, the marine transportation affiliate of US-headquartered oil and gas conglomerate Exxon Mobil Corporation.
The multi-year time charter to SeaRiver Maritime is set to begin in the first quarter of 2027.
The company said the TCP agreement “commercially de-risks” its 2024 newbuilding programme and will provide long-term sustainable cashflow.
“It also supports Avenir’s chartering strategy, which includes successfully signing five new charter agreements over the past 12 months, all of which to new blue-chip market entrants,” the company added.
Jonathan Quinn, managing director of Avenir LNG, commented: “This transaction delivers on our strategy to facilitate the growth of LNG and BioLNG as a marine fuel globally and demonstrates a successful commercial conclusion of our 2024 newbuilding program, providing the company with a solid foundation to continue to grow from.”
Avenir is a midstream LNG & BioLNG company focused on serving small-scale demand for the maritime sector, industrial consumers, and power generation. Avenir owns and operates a fleet of five LNG bunker and supply vessels with two vessels under construction.
