Kanfer Shipping AS Signs Shipbuilding Contract With Taizhou Yard for Construction of Two LNG Bunker Vessels

Kanfer Shipping AS (“Kanfer”), the Norway-based shipping company focusing on small-scale LNG sea transportation and LNG bunkering, today signed shipbuilding contract with China-based Taizhou Wuzhou Shipbuilding Industry Co. Ltd (“Taizhou”) for the construction of its first two small-scale LNG bunker and distribution ships with 6,000 cbm tank capacity each. Kanfer had signed an LOI with Taizhou in January earlier this year. The vessels are scheduled for delivery by second half 2023, with the option to build additional vessels.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210526005689/en/

“Taizhou has deep experience in building small-scale LNG carriers and Kanfer’s technological partner, CGR Arctic Marine AS, has worked closely for years with the yard. This relationship and their competitiveness have made Taizhou an ideal choice for construction of Kanfer’s 6,000 cbm capacity small-scale vessels,” says Founder and CEO Stig Hagen of Kanfer Shipping.

CGR’s concept design for these two LNG bunker and distribution ships including their specialized cargo and gas process plants, addresses the immediate industry need for more cost-efficient and environmentally friendly LNG bunkering. Key features include:

• Mono-tank design, with simple arrangement and minimal boil-off
• Pure gas electric power production combined with hybrid battery technology
• Lowest possible environmental footprint
• Extreme manoeuvrability with Azipull thrusters and bow thruster combined with joystick operation
• 500 cbm MDO cargo tank

The above technical features allow for both capex and opex savings:

• Reduced crew size
• Lower operational and maintenance costs
• Minimal boil-off
• Significant capex savings due to LNG-fueled vs dual-fueled design

These savings result in lower day-rates for our customers while at the same time offering excellent functionality and clear environmental benefits.

Taizhou Yard has extensive experience with building gas carriers. CGR Founder, Capt. Bård Nordberg, has been leading the design & construction of 10 small-scale gas carriers at the shipyard, including several LNG vessels. Such extensive ship-building experience is unique in this space, and Kanfer is excited to leverage this.

“This announcement represents an important step for Kanfer in realizing its goal to provide cost-efficient and environmentally friendly bunker vessels. Having strong cooperation with blue-chip shipping companies and LNG terminal owners has positioned Kanfer to move forward today with these two new LNG bunkering vessels,” said Mr. Hagen.

“This is just the start”, continues Mr. Hagen. We will be building a large fleet of small- and medium-scale LNG distribution and bunkering ships. We see a rapidly expanding market for LNG bunker vessels as the world maritime industry continues to pivot towards its decarbonisation goals through LNG. The current very modest orderbook for new LNG bunkering vessels makes our decision well-timed, especially now that equivalent, new-built vessels to be delivered in 2022 and 2023 have already been chartered out. The need for the emergence of new LNG bunkering centres will indeed be critical as the trading pattern for gas-driven vessels will be global and very diversified. The existing hubs will also need to expand to cater for growing demand and for the requirement of different sizes of bunkering and distribution ships that Kanfer is in a position to build. This is one of the reasons why Kanfer is confident that the timing is advantageous. The designed for purpose vessels offers lower CAPEX as well as OPEX and will be a competitive LNG bunkering vessel in the market.”

For more information about Kanfer Shipping, visit: http://kanfershipping.com/home/

For more information about CGR Arctic Marine, visit: https://www.cgrmarine.com/

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005689/en/

Contact information

MEDIA
Kanfer Shipping: Stig Anders Hagen, Tel: +47 413 599 80 or stig@kanfershipping.com.
CGR Arctic Marine AS: Bård Norberg, Tel: +47 913 18 441 or bard@cgrmarine.com