Avenir secures time charter extension for two LNG vessels
Small-scale LNG player Avenir LNG has extended the time charter for two LNG vessels, Avenir Advantage and Avenir Accolade, it said on January 4.
Avenir's affiliate, Future Horizon, a joint venture between Avenir and Malaysia's MISC, has inked a new two-year time charter agreement with PETCO Trading Labuan Company (PTLCL), the trading arm of Petronas.
Additionally, Avenir has entered into a time charter agreement for the Avenir Accolade for a period of up to two years with NFE Transport Partners, a subsidiary of New Fortress Energy. The Avenir Accolade, previously under a bareboat contract with New Fortress Energy, will now continue its service under this new time charter agreement, extending the term until Q4 2025.
Avenir LNG currently has a total fleet of five tankers in the water. The latest vessel to join the fleet was the 20,000 m3 Avenir Achievement in May 2022. It also owns a small-scale LNG terminal in Sardinia, with assets/partnerships now operating in China, Malaysia, the Mediterranean, Baltic Sea and the Caribbean.
In September last year, Avenir awarded the management of three LNG bunker vessels - Avenir Achievement, Avenir Ascension, and Avenir Aspiration - to Norway's Wilhelmsen Ship Management.