Avenir LNG Limited (NOTC: AVENIR ) announces it has signed a Time Charter Party (TCP) with LNG Shipping S.p.A., a 100% subsidiary of Eni S.p.A.(Eni) for one of the Company’s 7,500cbm LNG Bunker Vessels, the Avenir Aspiration. The multi-year time charter to Eni will commence from delivery in Europe in 2025.
This agreement further establishes Avenir as the leading provider for modern LNG bunker vessels, both as an owner and operator. With this announcement, the Company continues to deliver on its chartering strategy which has successfully concluded four new term charter agreements over the past 12 months across its fleet of 5 vessels on the water and 2 under construction.
This charter increases the Company’s third-party charter revenue backlog, including options, to over $285 million, securing additional long term sustainable cashflow for the Group and shareholders over the next decade.
The Avenir Aspiration currently trades alongside the Avenir Ascension in the Northwest Europe performing small-scale supply services and ship-to-ship bunkering operations as part of Avenir’s physical LNG trading division, Avenir Supply and Trading.
Mr. Jonathan Quinn, Managing Director of Avenir LNG, commented:
“We are excited to be working with Eni to support their expansion into the LNG Bunkering market. This transaction further solidifies Avenir as the trusted partner for modern and efficient small-scale LNG vessels as well as delivering on our strategy to facilitate the growth of LNG as a marine fuel globally. We look forward to embarking on this long-term relationship with Eni whom we will serve with the highest safety and operational standards which Avenir has come to be known for.”