Swedish Furetank and Canadian Algoma Central Corporation announce the expansion of the FureBear joint venture with two additional vessel orders, bringing the total newbuild order to ten Vinga ice-classed product tankers of 17,999 Dwt.
The two ships will be constructed at China Merchants Jinling Shipyard in Yangzhou, China, with expected delivery in second and third quarters of 2026, as Furetank says.
All ten FureBear vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg, Sweden, mainly trading in North Europe.
With this further fleet expansion, Furetank believes that they are ready to expand into new markets and meet the future demand for biofuels transportation.
Lars Höglund, CEO of Furetank, said that “We see the upcoming phasing out of older tonnage in the market far exceeding the amount of newbuildings underway. Since we launched the Vinga series, no other vessels have been introduced that exceed their environmental performance. This encourages us to expand the series, improving our customer service, while continuously developing and refining the emission-saving technology on board.”
Gregg Ruhl, President and CEO of Algoma Central Corporation, notes that “The closer we get to the delivery of our first FureBear newbuild, the more confident we are that our JV with Furetank will yield superior long-term results. We see a need for more Vinga tankers to ensure that we can support customer demand into the coming years and even decades, and with a best-in-class environmentally friendly design that will stand the test of time.”
