Furetank and Algoma Central form a joint venture agreement to build four dual-fuel product tankers
Swedish Furetank AB and Canadian Algoma Central Corporation formed a joint venture agreement to build four dual-fuel product tankers intended to trade in Northern Europe in August 2022, according to Offshore Energy.
The four ships are expected for delivery between 2023 and 2025. Upon completion, all four vessels will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg, Sweden. The four 17,999 DWT ice-class 1A product tankers have been designed in collaboration with FKAB Marine Design and they have a dual-fuel capacity with the ability to operate on LNG/LBG or gasoil.
These vessels are similar to the Vinga Series, a group of eight ships currently operated by the Gothia Tanker Alliance. The FureBear tankers feature a battery hybrid system and various fuel and energy efficiency measures. These design elements result in reduced emissions of CO2, sulfur oxide, nitrogen oxide, and hazardous particles. The vessels are also equipped for shore power usage, according to Furetank.
In November 2022, FureBear joint venture expanded the orderbook to include a total of eight dual-fuel product tankers to trade in Northern Europe, and last month the partnership booked the construction of two additional Vinga-class vessels. The latest order for Vinga series vessels grows the FureBear joint venture to a total of ten ships under construction, with the first vessel slated for delivery in the first quarter of 2024.
