Marinakis' Capital, CMA CGM, TotalEnergies advance LNG bunker vessel JV with LOI in China

Riviera reported in late 2025 that Capital Group and CMA CGM had formed a joint venture to place an order for LNG bunker vessels, which are expected to be chartered to energy major TotalEnergies.

Sources close to the collaboration have now confirmed that a letter of intent (LOI) has been signed with Nantong CIMC Sinopacific Offshore & Engineering Co, Ltd (CIMC SOE) for the construction of up to two ships.

While the capacity of the vessels has not yet been confirmed, some shipbroking sources suggest they will be 20,000-m³ units.

CIMC SOE is a leading builder of LNG bunker vessels. Last month, the yard disclosed that its orderbook includes 10 20,000-m³ vessels along with three 18,900-m³ ships.

All three partners are strong proponents of the LNG market. 

Capital Group is one of the largest LNG carrier operators globally, with US-listed Capital Clean Energy Carriers Corp managing a significant orderbook. 

CMA CGM has placed multiple orders for LNG-powered vessels and, last year, entered a 50-50 joint venture with TotalEnergies to develop and operate an LNG bunkering platform at the Port of Rotterdam.

TotalEnergies has also been linked to charters for two 18,600-m³ vessels ordered by Spanish shipowner Ibaizabal at Hudong-Zhonghua Shipbuilding in China.

The formation of joint ventures in the LNG bunker vessel market has become increasingly common in recent months, as established shipping companies pursue collaborations to support market growth. 

Despite ongoing debates over which alternative fuel will dominate the future, LNG continues to play a central role in the energy transition, with Greek stakeholders already urging regulators to further emphasise its significance.