Avenir expands in Chinese LNG bunkering
UK-based Avenir LNG said on January 24 it had agreed to co-operate with Shanghai SIPG Energy Service (SSES), a joint venture between China's Shanghai International Port Group and Shenergy Group, on LNG bunkering.
Under the agreement, Avenir will market LNG bunkering at the port of Shanghai and support SSES in bunkering containerships belonging to French shipping group CMA CGM.
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"This important milestone expands Avenir's bunkering network into the rapidly growing Chinese market, adding another hub to its existing bunkering network in the Mediterranean, northwest Europe and Malaysia," Avenir said.
Avenir has sold its newbuild 20,000-m3 Avenir Allegiance bunkering vessel, the world's largest, to SSES as part of the agreement. It did not disclose the price, but said it would use the sale's proceeds to build up its working capital and fund future growth.