Furetank and Algoma Central Corporation have expanded the FureBear joint venture with orders for two additional Vinga dual-fuel battery hybrid vessels, bringing the total order to 10 intermediate product tankers to trade in Northern Europe.
The two ships will be constructed at China Merchants Jinling Shipyard in Yangzhou, China, with delivery expected in the second and third quarters of 2026. The two new orders bring the Vinga vessel series to a total of 19 ships. Construction on the first FureBear vessel is on schedule for its 2024 delivery. All 10 FureBear vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg, Sweden.
The Vinga ships are ice class 1A 17,999 DWT product tankers designed by Furetank and FKAB Marine Design. They all have dual-fuel capability, run on LNG/LBG or gasoil and are fully equipped for shore power. They are designed with a battery hybrid solution and several features that reduce fuel and energy consumption, resulting in lower emissions of CO2, sulphur oxide, nitrogen oxide and hazardous particles. According to the International Maritime Organization (IMO), the ships have scored the best Energy Efficiency Design Index (EEDI) value in their segment globally.
One factor supporting the joint venture expansion is the growing demand for biofuels and renewable feedstocks in European trade. According to the companies, this type of demand benefits modern, intermediate-size tankers designed for efficient cargo handling and tank preparation.
Lars Höglund, CEO of Furetank, said, “We see the upcoming phasing out of older tonnage in the market far exceeding the amount of new buildings underway. Since we launched the Vinga series, no other vessels have been introduced that exceed their environmental performance. This encourages us to expand the series, improving our customer service, while continuously developing and refining the emission-saving technology on board.
“The vessels in service have been very well received in our market and have proven to function far beyond our expectations. The first ship has been operating for five years, the main engine running for 25,000 hours and not missing a single day in service because of technical issues. With that in mind, it is amazing to have found a business partner like Algoma who wants to join forces, place the investments, and continue this journey with us.”
Gregg Ruhl, president and CEO of Algoma Central Corporation, commented, “The closer we get to the delivery of our first FureBear new-build, the more confident we are that our JV with Furetank will yield superior long-term results. We see a need for more Vinga tankers to ensure that we can support customer demand into the coming years and even decades, and with a best-in-class environmentally friendly design that will stand the test of time.
“Our aspiration is to grow FureBear only as large as it needs to be to meet the market demand of our customers. This is not an asset play; it is a customer service play, which has always been at the heart of what we do at Algoma and now with our partners.”
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