The FureBear joint venture will double its fleet to include four more dual-fuel product tankers
Swedish company Furetank AB and Canada-based Algoma Central Corp launched their FureBear joint venture this August, operating four dual-fuel ice-class 1A 17,999-dwt product tankers. The addition of four new 17,999 dwt tankers brings the total investment to eight vessels.
Furetank placed the order for two of the four new ships in September and two are now placed as new orders. All four Vinga-class vessels will be built by China Merchants Jinling Shipyard in Yangzhou, China with delivery expected by 2025.
Designed in co-operation with FKAB Marine Design, all Vinga vessels feature dual-fuel capability, running on LNG or liquid biogas. These vessels are designed with a battery-hybrid system to reduce fuel and energy consumption, resulting in extensively lower emissions of CO2, SOx, NOx and hazardous particles.
Furetank said the Vinga-class ships have chalked up the best Energy Efficiency Design Index (EEDI) value in their segment globally.
Algoma president and chief executive Gregg Ruhl said, “In our strategic plan, we set out to find sustainable areas to grow our business and deploy capital in the highest and best uses. This investment enables us to further diversify Algoma’s asset base and geographic trading zones in a segment we know well with partners that share our values.”
Upon completion, all eight vessels will be entered into the Gothia Tanker Alliance, and will be operated by Furetank out of Gothenburg, Sweden.
Riviera Maritime Media has a comprehensive conference programme for the rest of 2022 and will provide free technical and operational webinars in 2023.
