Finnish Shipping Company Containerships plans additional investment in LNG technology

By Curious

Finnish shipping company Containerships is aiming to continue its growth through investment in LNG technology during 2017.

The group, that currently has over 40 LNG-fueled trucks in use will add four LNG-fueled container vessels, one in each quarter of 2018.

Finnish Shipping Company Containerships plans additional investment in LNG technology

Container ship Containerships VII - Image courtesy: Ian Greenwood

“The aim is to be the first company to offer a full transport chain based on LNG-powered solutions in its market area,” the company said in its latest report.

Containerships signed a shipbuilding contract with Guangzhou Wenchong Shipyard in China for the construction of four LNG-fueled container ships with an option for additional four vessels.

The vessels with a capacity of 1,400 TEU that will be operating in the Baltic and Nordic sea are built in co-operation with the ship management company Nordic Hamburg.

Containerships have already made a €17.2 million (Approx: US$18.3 million) prepayment for the four LNG-vessels, with further payments to be made once the vessels enter service. The company also received the support of European Union with a €2.2 million prepayment for the project. EU’s total support for the project totals €17 million.

Source: LNG World News