Norwegian shipping company Knutsen OAS Shipping has placed an order for a new liquefied natural gas (LNG) carrier under a long-term charter agreement.
On December 9, Knutsen announced via its official website that it had signed a long-term charter agreement with Italian energy company Edison Group to provide a new 174,000 m³ LNG carrier.
The new vessel will be constructed by Hanwha Ocean, with delivery expected starting in 2028, and subsequently chartered by Edison. The shipbuilding cost has not been disclosed publicly. Based on reference prices for LNG carriers published by Clarkson and Hanwha Ocean’s publicly announced LNG carrier orders in October, the estimated cost is approximately $250 million.
Knutsen stated that this LNG carrier will be constructed according to the most advanced technology and sustainability standards, featuring four membrane-type cargo tanks equipped with high-efficiency insulation systems to minimize evaporation losses—the natural evaporation of LNG within the cargo tanks—ensuring optimal performance during transportation. It will incorporate a dual-fuel LNG/marine diesel propulsion system, shaft generator sets for more efficient onboard energy utilization, and a complete reliquefaction system enabling full recovery of evaporated gas, thereby optimizing energy consumption and emissions.
The new vessel’s design fully complies with the latest international environmental requirements, including International Maritime Organization (IMO) regulations, the newly promulgated EU FuelEU Maritime Regulation, and the EU Emissions Trading System (EU ETS) regulations, enabling it to be both competitively operational and perfectly aligned with future environmental sustainability standards.
Knutsen emphasized that the signing of this charter agreement will further solidify the company’s partnership with Edison, underscoring both parties’ shared vision for developing efficient and sustainable energy solutions.
Knutsen and Edison’s collaboration began in 2018 with the joint construction of the first 30,000 m³ LNG carrier, the “Ravenna Knutsen.” The vessel offers exceptional operational flexibility. Edison utilizes it to supply a small sustainable transport fuel depot for the Port of Ravenna Cosenza and to refuel other vessels with LNG. Its configuration adapts to various storage facilities and vessels, enabling it to also supply coastal regasification terminals.